Indian Economy News

Under India’s G20 Presidency, the Indian tourism sector will contribute US$ 56 billion forex to GDP and generate 140 million jobs

Under India’s G20 Presidency, the Ministry of Tourism, in partnership with the Confederation of Indian Industry (CII), will be organizing the country's first Global Tourism Summit in New Delhi from April 10-12, 2023, where all G-20 member countries will be invited to participate.

The tourism ministry officials have been emphasizing on how G20 will be the ministry’s main area in 2023 to establish the country as a key tourism destination during its year-long leadership.

Mr. Prashant Ranjan, Director, Ministry of Tourism highlighted that at the Global Tourism Investor’s Summit, India will be showcasing opportunities for investment and trade in various segments of tourism such as theme parks, adventure tourism, and wellness tourism. He added that the Government of India has a vision of US$ 56 billion forex, creating around 140 million jobs in tourism by 2030, by particularly focusing on cruise tourism, ecotourism, and adventure tourism. He also mentioned that the Indian government is now introducing a scheme called Swadesh Darshan 2.0 which will focus on sustainable and responsible development of tourist destinations.

Mr. Sunit Kothari, Co-Convener, CII Maharashtra Sub-group on Tourism and Aviation & Director, Kothari Group while welcoming the delegates said that the Indian travel and tourism industry is a rapidly growing and becoming an attractive investment destination, because of the efforts by the government to boost the industry, the diverse range of tourist experiences offered, the increasing digitalization of the industry, and the significant untapped potential for growth. 

The policy initiatives undertaken by the respective tourism departments of the states of Goa, Madhya Pradesh, Daman, and Diu have been presented to improve the ease of doing business. They also presented investment success stories and reaffirmed their commitment to utilizing the potential of the tourism sector as a vehicle for transformational socio-economic change.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.