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Record Revenue for Karnataka Exhibition Authority from Dussehra Exhibition
The annual Dussehra Exhibition, a cherished tradition during the Dussehra festival, has proven to be a significant source of income for the Karnataka Exhibition Authority this year, setting a new record.
Mysuru: The annual Dussehra Exhibition, a cherished tradition during the Dussehra festival, has proven to be a significant source of income for the Karnataka Exhibition Authority this year, setting a new record.
Contractors were awarded the material exhibition contract through a bidding process at a rate exceeding the authority's fixed rate. The authority is set to earn a remarkable sum of 11.52 crores from this exhibition, which spans a period of 90 days. For this year's exhibition, a global tender was issued for the contract, valued at 8.88 crores. Two companies based in Bangalore participated in the competitive bidding process. Fun World India Resort Ltd., Bangalore, submitted the winning bid of 11.52 crores, exceeding the rate initially set by the authority.
Rajesh G. Gowda, the CEO of the Karnataka Exhibition Authority, expressed his excitement, stating, "This is the first time in the history of the Authority that we have received such a substantial amount of revenue."
In 2022, the contract for the exhibition was awarded at 8.08 crores, while the fixed rate was 8 crores. The impact of the COVID-19 pandemic led to limited bidding activity during the previous year. However, Fun World India Resort Ltd. secured the contract for the material exhibition. The years 2020 and 2021 saw the cancellation of the material exhibition due to the pandemic, resulting in a significant revenue loss for the authority.
This year marks a historic achievement for the Karnataka Exhibition Authority, as the competition in the bidding process resulted in record revenue. To attract tourists and enhance the overall experience, the authority has organized a range of programs. Traditionally, the exhibition contract was awarded directly to the organization itself. However, this year's competitive bidding process yielded higher rates and a substantial increase in revenue. Fun World India Resort Ltd. has made special efforts to draw tourists to the exhibition.
The revenue received by the authority has set new benchmarks, offering a promising outlook for the future. During 2021 the exhibition was canceled owing to covid.
