Travel and Tourism industry in India.
India is known for its rich cultural heritage and an element of mysticism, which is why tourists come to India to experience it for themselves.
A crucial cornerstone of the Make in India initiative is the Indian tourist industry. India's tourism sector is a major economic multiplier and is becoming more and more important as the country strives for rapid economic growth and employment creation.
India offers diverse geographical regions, world-class tourist attractions, and specialised travel services including ecotourism, adventure travel, and medical travel. Incredible India has encouraged growth in employment and tourist arrivals. India wants to raise the number of cruise passengers from the current 0.4 million to 4 million. The economic potential of cruise tourism is anticipated to increase from $110 million to $5.5 billion over the next few years.
Tourism tends to drive the development of multipurpose infrastructures such as hotels, resorts, restaurants, transportation infrastructure (air, road, shipping, rail) and medical facilities. 13. For visitor exports, WTTC (2020).
- According to the World Economic Forum's Travel & Tourism Development Index, India is now rated 54th (2021).
- India is anticipated to rank among the top five markets for business travel by 2030.
- 100% FDI is permitted under the automatic route in the tourism sector.
- In tourism construction projects, including the creation of hotels, resorts, and recreational facilities, 100% FDI is permitted.