MAM
Events & activation industry to touch Rs 5,779 crore by 2016-17
MUMBAI: The events and activation industry is clearly on a roll in the country. According to the EY-EEMA (Event and Entertainment Management Association) report, the sector is expected to grow to Rs 5,779 crore by 2016-17.
This growth will be on the back of marketers increasing their below the line (including digital) spends to 21 per cent of their total marketing spends. The growth will also be led by personal events, MICE (meetings, incentives, conferences and exhibitions), activations and sports.
According to the report titled ‘Making experiences in India: The events and activations industry,’ the events and activations industry has seen a growth of 15 per cent annually from Rs 2,800 crore in 2011-12 to Rs 4,258 crore in 2014-15.
The report states that while managed events remain the largest service offering, IP (Intellectual Property) and digital events are growing at a faster rate than managed events. The key strength of the industry remains its ability to get things done and the ideation and efficiency with which it operates. “That said there is a need for the industry to work on acquiring the right talent, managing costs, demonstrating ROI to marketers and increasing transparency in operations,” states the report.
Non-metro markets are expected to increase in importance as marketers look to tier II and tier III cities for incremental growth, states the report. Digital events and activation is also expected to grow significantly on the back of smart phone penetration, internet availability and the cost efficiency of such campaigns for marketers.
While the industry has reported very few M&A transactions over the last few years, there exists scope for consolidation. Valuations are driven by IPs owned, advertising agencies’ interest in activations, and digital events and sports leagues. On the taxation front, double taxation, taxation across multiple states, and varying and inconsistent application of different taxes are some of the challenges faced by the industry. Also, the introduction of Goods and Services tax (GST) could have a significant impact on the industry in terms of rates and implementation across multi-state activities.
The report also states that the introduction of the new Companies Act, 2013, will result in some key changes in internal financial controls, compliance with more than 60 acts and regulations, and implementing a vigil mechanism to identify undesirable activities.
EY also conducted a workshop with CEOs of the industry that resulted in Vision20:20 for the industry’s future success. It felt that the industry needs to work towards the following initiatives:
Internal aspects: Improve the quality of talent through skill definition for various jobs, skill development, job security, compensation benchmarking and implementation of health and safety standards. The industry must build robust policies, processes and information systems to manage business efficiently and safely, and implement technology and automation.
External aspects: The industry needs to work on its positioning to marketers, build an account focus and demonstrate returns more effectively. There is a need to improve the supply chain by developing quality vendors, implementing a system of vendor accreditation and improving overall risk management. The regulatory ecosystem needs to be made more conducive by simplifying taxation, permissions and copyright issues.
Strategic aspects: The industry must build more IPs focused on defined communities of interest to marketers, and embrace the opportunity provided by marketers’ increasing spends on digital media.
The report is based on the findings of a survey conducted via extensive discussion with over 60 respondents including the heads of events and activation companies across the country, along with inputs from advertisers and sponsors.
EY India partner and media and entertainment advisory leader Ashish Pherwani said, “The events and activations industry holds great potential and this is evident from the considerable growth that the industry witnessed over the last few years.”
Event and Entertainment Management Association president Sabbas Joseph added, “With a new government at the helm, there is a growing interest in the culture and people. The events and activations industry is best poised to capitalize on this opportunity and there is a crying need for a new world order – one in which event companies work along with government to create an events calendar that drives tourism and related industries.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
