Mysuru: The annual Dussehra Exhibition in Mysuru, a long-standing tradition during the Dussehra festival, has proven to be a significant source of revenue for the Karnataka Exhibition Authority this year, breaking previous records.
This year, the authority awarded the material exhibition contract through a competitive bidding process, and the winning bid exceeded the authority’s fixed rate, resulting in an impressive income of 11.52 crores over a 90-day period. The contract, valued at 8.88 crores, was put up for global tender, with two Bangalore-based companies participating. Fun World India Resort Ltd. from Bangalore secured the contract with a winning bid of 11.52 crores, surpassing the initial rate set by the authority.
Rajesh G. Gowda, the CEO of the Karnataka Exhibition Authority, expressed his enthusiasm, noting that this is the first time the authority has received such a substantial amount of revenue.
In 2022, the contract for the exhibition was awarded at 8.08 crores, slightly exceeding the fixed rate of 8 crores. The limited bidding activity during the previous year was a result of the COVID-19 pandemic’s impact. Despite the challenges, Fun World India Resort Ltd. successfully secured the contract for the material exhibition. In 2020 and 2021, the material exhibition was canceled due to the pandemic, leading to a significant revenue loss for the authority.
This year’s achievement marks a historic milestone for the Karnataka Exhibition Authority, with competitive bidding resulting in record-breaking revenue. To attract tourists and enhance the overall experience, the authority has organized various programs. Traditionally, the exhibition contract was directly awarded to the organization, but this year’s competitive bidding process not only yielded higher rates but also significantly increased revenue. Fun World India Resort Ltd. made special efforts to attract tourists to the exhibition.
The revenue earned by the authority has set new standards, offering a promising outlook for the future. In 2021, the exhibition was canceled due to the COVID-19 pandemic.