TTT NEWS NETWORK
NEW DELHI | 5 OCTOBER 2026
PRISM, the corporate parent of OYO, has entered a strategic partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) to support the development of a more structured, collaborative and growth-oriented ecosystem for India’s rapidly expanding events sector. Under the Memorandum of Understanding (MoU), the two organisations will explore opportunities to strengthen collaboration across the event management and hospitality ecosystem, with a focus on enabling industry partnerships, knowledge exchange and new opportunities for businesses operating across the sector.
The partnership will focus on strengthening industry standards for planning, execution, and safety in large-scale events across sectors, facilitate knowledge exchange through joint workshops, seminars, and training programs for event management professionals, support skill development by creating structured learning pathways and certification opportunities for practitioners entering the field. PRISM and FICCI will also explore the development of whitepapers and industry reports to provide insights into emerging trends, evolving consumer expectations and opportunities shaping India’s event management ecosystem.
The development comes at a time when India’s live-events and concert economy is expanding rapidly. The Government of India has established the Live Event Development Cell (LEDC) under the Ministry of Information & Broadcasting to address regulatory, infrastructure, safety and operational challenges and support the development of the live-events ecosystem. According to the FICCI–EY Media & Entertainment Report 2026, India’s organised live-events segment grew 44% in 2025 to approximately Rs.14,500 crore and is projected to reach around Rs.19,600 crore by 2028.
Speaking on the occasion, Varun Jain, Chief Operating Officer, PRISM said, ” Events today require much more than efficient execution. They bring together hospitality, technology, operational excellence, stakeholder management and increasingly, safety and security. This partnership with FICCI reflects our shared commitment to raising the bar for event management in India. By combining PRISM’s on-ground expertise with FICCI’s reach and policy influence, we can help build a more professional, safe, and future-ready event ecosystem for the industry.”
Anant Swarup, Secretary General, FICCI added, “India’s events sector growth has consistently outpaced the frameworks needed to govern it. Too often, safety, standards, and skilling have played catch-up to scale. Our partnership with PRISM changes that equation by bringing an organised, on-ground operator to the table to help design the benchmarks this industry has needed for years. This is about building the guardrails for a sector that is set to create multiple job opportunities”.
This collaboration builds on PRISM’s ongoing efforts to elevate standards across its areas of operation, and FICCI’s continued role as a bridge between industry and policy in India. Both organizations expect the partnership to yield tangible outcomes over the coming months, including joint programs and initiatives to be announced in due course.
About PRISM: PRISM (formerly Oravel Stays Ltd.) is the corporate parent of OYO and a portfolio of brands with growing number of more than 22000 hotel storefronts and 123000 home storefronts in over 35 countries as on June 30, 2025. From short stays and extended living to luxury escapes, co-working hubs, celebration spaces, and hospitality technology solutions, PRISM simplifies and enriches urban living through scalable innovation.
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