A Rs26k crore Masterplan for a new convention centre in Delhi has been approved by the Indian government.
The Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) has said that the IECC, when completed, will be one of the biggest centres in Asia. Progress on the project has, however, been painfully slow.
Land for the site of the new venue was earmarked by the government in Dwarka, south-west Delhi back in March.
Now the DMICDC says the major national infrastructure project would catalyse trade and industrial development through the MICE industry and help power economic growth.
Nearly 90 hectares of land in Sector-25 Dwarka were made available for the project which will include exhibition halls, convention centres, banquet halls, an arena, a financial centre, hotels, food and beverage outlets, commercial and retail services and common internal infrastructure facilities.
The planned IECC will be able to host up to 10,000 delegates, and will be 15 minutes from the international airport.
The Delhi Metro Rail Corporation (DMRC) has said it will build an extension of the Airport Express metro line to provide dedicated metro connectivity to the new complex.
The authorities said Phase I of the project could now be commissioned by June 2019.
The existing convention and exhibition facilities around the capital are still concentrated at Pragati Maidan, which continues to face severe capacity and traffic constraints and cannot meet full demand. Local experts estimate India is missing out on a large chunk of the US$60bn Asian MICE market.