Kolkata, Nov 13 (IANS) The Indian Association of Amusement Parks and Industries (IAAPI) has signed an agreement with its counterpart in China for exchange of knowledge and technical expertise in developing amusement parks in both countries.
The pact, signed by IAAPI president Arijit Sengupta and China Association of Amusement Parks and Attractions (CAAPA) chairman Liu Jingwang, will be effective for one year, an IAAPI release said here.
'The understanding with the CAAPA enables both the bodies to exchange ideas bringing in rapid development of the amusement industry both in India and China by adapting to the best practices of both the countries,' Sengupta said.
'Through this understanding, we also foresee an opportunity to build a relationship with China which can value add to our growth in the amusement parks industry,' he said.
IAAPI is the apex body for amusement parks in India and CAAPA is the primary body for amusement parks in China.
'Both bodies were formed with an objective of providing a common platform to face the emerging challenges of the amusement industry,' the statement added.
'This MoU (memorandum of understanding) is a step forward towards forging ties between the two countries which will help them in creating a better understanding of the problems in the industry and work towards them.'
The annual turnover of the Indian amusement park industry is Rs.15 billion ($308 million), and according to industry sources, it is poised for a 25 percent year-on-year growth.
The agreement was signed taking into account the growth potential of the amusement industry globally, and efforts are being made to set benchmarks on critical factors such as safety standards, equipment manufacturing and manpower training, the release said.
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