In a significant decision aimed at making Delhi a hub for live events and shows and promoting the concert economy, the Sports Authority of India (SAI) has reduced rentals for major stadiums across the city by 40-50 per cent, Delhi’s Art and Culture Minister Kapil Mishra said on Saturday.
According to the minister, this step has been taken to make Delhi the most event-friendly city in the country, transforming it into a global hub for live entertainment.
He said that the decision aligns with the vision of Prime Minister Narendra Modi.
The decision, taken under the leadership of Union Minister of Youth Affairs and Sports Mansukh Mandaviya, is set to give a new momentum to national and international live events and concerts in the city.
Speaking on the development, Mishra said that the historic decision was taken after extensive discussions with Union Minister Mandaviya and two roundtable meetings with the industry.
He added that one of the major obstacles to the PM’s vision of making Delhi a hub for live events and the concert economy was the high stadium booking rates, which led to large events being organised outside the national capital.
Earlier, on September 2, Mishra met the Union Minister to discuss advancing the vision, with senior representatives from the Event and Entertainment Management Association (EEMA) and the PHD Chamber of Commerce and Industry (PHDCCI) also attending the meeting.
The discussions focused on reducing rental rates for major Delhi stadiums and simplifying event procedures.
The Union Minister had assured that all necessary measures would be taken to make Delhi a global centre for cultural activities and live entertainment.
Meanwhile, industry leaders welcomed the government’s decision, calling it historic for the city of Delhi.
The minister said the decision will not only promote Delhi’s cultural and tourism activities but also significantly increase employment opportunities.