G-20 presidency: Indian Tourism Sector to Contribute USD 56bn forex to GDP and Generate 140 Mn Jobs

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Under the aegis of India’s G20 Presidency, the Ministry of Tourism, Government of India shall be organizing the country’s first Global Tourism Summit in New Delhi from 10-12 April 2023, where all G-20 member countries will be invited to participate. CII is the Industry Partner for this event.

In a roadshow held ahead of the summit at St Regis Hotel, Mumbai, the Tourism Ministry officials from various Western Region States emphasized how G20 will be the Union Tourism Ministry’s main area in 2023 to establish the country as a key tourism destination during its year-long leadership. Global perspective was given by various Consulates.

Mr Prashant Ranjan, Director, Ministry of Tourism, Government of India shared 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. The Government of India has a vision of USD 56 Billion forex, creating around 140 million jobs in tourism by 2030 through inclusive growth and are particularly focusing on cruise tourism, ecotourism and adventure tourism. He also mentioned that the Indian government has been investing in infrastructure and promoting the tourism and hospitality sector through various schemes and initiatives, and are now introducing the scheme called Swadesh Darshan 2.0 which will focus on sustainable and responsible development of tourist destinations.

Mr Saurabh Vijay, Principal Secretary – Tourism & Cultural Affairs, Government of Maharashtra highlighted that the Government is discussing the development of an online application portal to facilitate investment opportunities in the tourism industry in Maharashtra, India. They have identified various opportunities such as land for amusement parks, autism, cruise tourism, and ecotourism, and are also focusing on private investment and partnerships. GoM has identified specific locations and projects such as a mangrove park and aquarium project and are also exploring opportunities in MICE tourism and responsible tourism. Maharashtra has reduced the no. of licenses to 10 only for Ease of Doing Business’ “Mumbai is the Cruise Capital” and Tadoba is the ‘Tiger Capital’.

Mr Vijay also thanked CII for organising this roadshow in Mumbai and Maharashtra would be happy to participate at the 1^st Global Tourism Investors’ Summit, 2023.

Mr Sunit Kothari, Co- Convener, CII Maharashtra Sub-group on Tourism and Aviation & Director, Kothari Group while welcoming the delegates said “The Indian travel and tourism industry is a rapidly growing and attractive investment destination, due to the growing middle class, 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. Maharashtra, a state in western India, is a popular tourist destination known for its diverse range of attractions including beaches, hill stations, wildlife sanctuaries, ancient temples, and monuments. The state has the potential to become an ideal tourism destination, drawing on its many strengths and addressing its current limitations.”

The State Officials of Goa, Madhya Pradesh, Daman & Diu, presented policy initiatives undertaken by their respective Tourism /Industries Department to improve ease of doing business and a summary of unique fiscal and non-fiscal incentives in the sector. They also presented investment success stories and reaffirmed their commitment towards utilizing the potential of the tourism sector as a vehicle for transformational socio-economic change. The roadshow created significant interest among the small and medium operators on the possibilities and promise of the upcoming summit.