Tourism offers the highest employment potential per dollar invested and represents one of the biggest opportunities for India’s next growth wave, Commerce and Industry Minister Piyush Goyal said on Thursday at ASSOCHAM’s 105th Annual General Meeting.
He also called for a concerted strategy to attract high-spending tourists, he urged greater investments in the tourism and hospitality industry to unlock its full potential.
Goyal noted that the world is currently facing a shortage of aircraft post-pandemic, constraining the availability of seats for international travel. According to Goyal, most flights are running full and any significant bump-up in international tourism will require a major addition in capacity. He also added that India’s international tourism has doubled in the last decade.
To further accelerate growth, the government is identifying the top 50 tourist destinations to develop world-class infrastructure and connectivity. Political, diplomatic and business travel today takes up a large share of flight capacity, Goyal said on Friday. He added that there is a need to ensure that leisure and high-value tourism are adequately supported.
Responding to a query from ASSOCHAM’s Past President and SpiceJet CMD Ajay Singh on India-US trade talks, the minister remarked that negotiations are not conducted in public forums. “Perhaps Ajay is more worried about Boeing’s supply of his planes and engines,” he quipped.
