Indian Hospitality Sector Anticipates Growth and Policy Support
The next Interim Budget 2024-2025 is expected to boost India’s booming hospitality industry as the travel sector recovers. India’s diversified tourism offerings—cultural heritage, adventure, wellness, and more—have regained worldwide appeal thanks to Government efforts like Swadesh Darshan and international events.
Travel and hospitality are resilient and growing, and the Hotel Association of India expects a US$ 1,504 billion GDP contribution by 2047. The sector requests infrastructure status for hotels, GST rate rationalization from 18 percent to 12 percent, and faster approval processes in the Interim Budget to maximize this potential.
The industry also promotes UN Sustainable Development Goal-aligned skill development, sustainability, and incentives. Tourism and hospitality contribute significantly to India’s GDP; therefore, stakeholders emphasize policy assistance to ensure growth, job creation, and economic effect. India wants a ‘New India’ on its 100th Independence Day and unleashing the hospitality sector’s potential drives inclusive economic development.