FAITH – आवारा मुसाफिर

Hospitality industry has task cut out to achieve sustainability goals

September 27, 2023663 Views

India one of the few countries to adapt to changing times, says Nakul Anand, Chairman-FAITH ‘We Don’t Inherit the Earth from Our Ancestors, We Borrow it from Our Children’ “A vision of creating a $3 Trillion tourism GDP for India by 2047 through 100 million foreign tourist arrivals, 20 Billion domestic tourism visits and more than 200 Million direct and indirect tourism driven jobs — this is the scale envisioned by the Federation of Associations in Indian Tourism & Hospitality. The Ministry of Tourism’s unique initiative, ‘Travel for Life’ encourages Sustainability in Tourism and this will accelerate hospitality and tourism businesses”, stated Nakul Anand, Chairman FAITH. Anand was speaking at ‘Travel for LiFE’, a global first initiative by the Ministry of Tourism to boost ...

खबरनामाट्रैवल उद्योग

FAITH proposes ‘PM -Holiday in India Export Support’ to foreign trade policy

AWARA MUSAFIR BUREAU

September 16, 2022170 Views

FAITH, the policy federation of all the ten national associations representing the complete tourism, travel and hospitality industry of India - ADTOI, ATOAI, FHRAI, HAI, IATO, ICPB, IHHA, ITTA, TAAI & TAFI has proposed ‘PM - HINES’ or ‘Prime Minister - Holiday in India Export Support’ for the upcoming foreign trade policy to fast track tourism, travel and hospitality exports from India. PM - HINES is a combination of two existing similar support mechanisms of the government of encouraging duty-free exports and PLI scheme. On similar concept, to increase tourism, travel and hospitality exports from India PM - HINES is based on two key market principals Drawback of all domestic duties, levies and taxes which have become implicitly built into the price of tourism in India M...

खबरनामाट्रैवल उद्योग

FAITH suggests 5 measures for tourism GST rationalisation

AWARA MUSAFIR BUREAU

July 28, 2022737 Views

Federation of Associations in Indian Tourism & Hospitality, FAITH, the policy federation of all the ten national associations representing the complete tourism, travel and hospitality industry of India - ADTOI, ATOAI, FHRAI, HAI, IATO, ICPB, IHHA, ITTA, TAAI & TAFI, has thanked the Fitment Committee for considering favourably the drawback of taxes on foreign tourists on their goods purchases in India. They have recommended five rationalisation measures across the tourism, travel and hospitality value chain for consideration for the next GST Council meeting. FILE PHOTO: A group of tourists in Dharmsala, India, Saturday, June 18, 2022. (AP Photo/Ashwini Bhatia) · Hotels to be allowed to charge IGST which will enable seamless availability of credit across India to all travel ag...

खबरनामाट्रैवल उद्योग

Left out in cold by budget, travel industry looks for way ahead

UPENDRA SWAMI

February 4, 2021781 Views

It was definitely not what the Indian travel and tourism industry has been expecting. Budget 2021-22 has come as a rude shock for an industry, which has faced the most severe brunt of the COVID-19 pandemic in the last one year. Global tourism suffered its worst year on record in 2020, with international arrivals dropping by 74% according to the latest data from the World Tourism Organization (UNWTO). Destinations worldwide welcomed 1 billion fewer international arrivals in 2020 than in the previous year, due to an unprecedented fall in demand and widespread travel restrictions. This collapse in international travel represented an estimated loss of USD 1.3 trillion in export revenues - more than 11 times the loss recorded during the 2009 global economic crisis. The crisis has put betwee...

खबरनामाट्रैवल उद्योग

Implementing Kamath Committee report won’t be easy for Tourism sector

AWARA MUSAFIR BUREAU

September 9, 2020495 Views

The tourism industry has welcomed the recommendations of the Kamath Committee, however industry players think it may be difficult for some to meet the parameters. The KV Kamath Committee has listed tourism among the 26 sectors that require financial restructuring in the aftermath of the COVID-19 crisis. The five-member committee appointed by the Reserve Bank of India (RBI) has recommended five financial parameters or ratios with sector-specific thresholds that lending institutions can factor in as part of a graded approach to restructuring or finalising a resolution plan for a borrower. The five parameters for each sector are the total outstanding liability to adjusted net worth, total debt to EBITDA, debt service coverage ratio (DSCR), average DSCR, and current ratio. Debt/E...