Advantage India
Robust
Demand
* The Medical Tourism sector is predicted to increase at a CAGR of 21.1% from 2020-27.
* The travel market in India is projected to reach US$ 125 billion by FY27 from an estimated US$ 75 billion in FY20.
* International tourist arrivals are expected to reach 30.5 million by 2028.
Attractive
Opportunities
* India is geographically diverse and offers a variety of cultures that come with its own experiences, making it one of the leading countries in terms of international tourism expenditure.
* Travel and tourism are two of the largest industries in India, with a total contribution of about US$ 178 billion to the country’s GDP.
* The country’s big coastline is dotted with attractive beaches.
Policy
support
* US$ 2.1 billion is allocated to Ministry of Tourism in budget 2023-24 as the sector holds huge opportunities for jobs and entrepreneurship for youth.
* Under the Union Budget 2023-24, an outlay of US$ 170.85 million has been allocated for the Swadesh Darshan Scheme.
* 68 destinations/sites have been identified in 30 States/UTs for development under the PRASHAD Scheme as on March 31, 2022.
Diverse
Attractions
* India is geographically diverse and offers a variety of cultures that come with its own experiences, making it one of the leading countries in terms of international tourism expenditure.
* Travel and tourism are two of the largest industries in India, with a total contribution of about US$ 178 billion to the country’s GDP.
* The country’s big coastline is dotted with attractive beaches.
Indian Hotels Company Ltd.
Indian Hotels Company Limited (IHCL) provides a fusion of warm Indian hospitality and world class services to its guests. The group was incorporated in 1903 with its first ever hotel, The Taj Mahal Palace, Mumbai. It is present in 12 countries across four continents including India, North America, United Kingdom, Africa, Sri Lanka, etc. The group has a portfolio of about 200 hotels and an inventory of over 25,000 rooms in over 100 locations. Taj, Vivanta, and The Gateway are the three award winning brands functioning under the group with 37, 33, and 28 hotels operating under the brands, respectively.
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Mahindra Holidays and Resorts India Ltd.
Mahindra Holidays and Resorts India Limited (MHRIL) is a part of the leisure and hospitality sector of the Rs. 14,467.23 crore (US$ 20.7 billion) multinational Mahindra Group. It offers conventional vacation ownership programmes. MHRIL is one of the largest vacation ownership brands in the world. It is the market leader in India in vacation ownership industry. As of FY20, the company employed 24 million people across 100 countries. The company has 70 resorts across various locations in India and abroad. MHRIL caters to the urban families which can incur discretionary expenditure on vacations. The company has a vision to be in the top five vacation ownership (VO) companies in the world in terms of member base by 2021.
Read MoreMake My Trip
Make My Trip is India’s leading online travel company which provides Indian traveller with instant bookings and comprehensive choices. It initiated its services by serving the US-India travel market in 2000 offering a range of best-value products and services powered by technology and round-the-clock customer support. It started its operations in India in 2005. It has proactively diversified its products offering by adding a variety of online and offline products and services.
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