The Indian hospitality sectors are an excited lot over the recent budget announcements. This year the hospitality Industry czars were over excited as the government seems to have hit the bulls’ eye, leaving hoteliers and tourism professionals feeling optimistic about the future.
"This is a budget that truly understands the needs of our industry," says Vikram Kamat, Chairman of VITS Kamat Group, echoing the sentiments of many. He particularly applauded the move to extend Mudra loans to homestays, recognizing the vital role they play in promoting tourism in diverse regions of the country.
One of the other highlights is the significant investment in infrastructure. Paritosh Ladhani, Joint MD of Sincere Developers, owner of Taj Hotel & Convention Centre Agra and Hard Rock Cafe, Delhi, is particularly excited about the proposal to integrate hotels and tourism for developing infrastructure which will help the tourism sector. "This will be a game-changer," he says, "strengthening connectivity, attracting more visitors, and creating exciting business opportunities."
The budget also recognises the power of tourism to showcase India's rich cultural heritage. Vishal Vincent Tony, MD of Ayatana Group, lauded the strategic focus on spiritual and medical tourism, along with e-visa facilitation and visa fee waivers for select countries. These initiatives are expected to draw a wider range of travelers, eager to experience India's unique offerings.
And for those who've braved the bureaucratic hurdles for licenses and permits, they have some good news. The budget proposes streamlining these processes, making it easier for businesses to operate and expand. Tarun Gulati, Director of Himalayan Hotels, believes this will "significantly boost tourism, enhance the traveler experience, and create new opportunities for hospitality entrepreneurs."
Navneet Nagpal, Principal Consultant and Director of Spectra Hospitality Services, points out, this budget are a "significant turning point" that will attract more foreign travelers and boost the economy. The hospitality sector is a major engine for job creation and economic growth, and Budget 2025 fuels its potential to contribute even more to India's prosperity”.
Overall Budget 2025 has struck a sync chord with the hospitality industry. Basically investment on infrastructure, and promoting tourism, as this will help the hospitality sector to thrive.It’s not hotels and restaurants; it's all about creating opportunities, showcasing India's vibrant culture, and paving a future path. As Ritwik Khare, Founder & CEO of Elivaas, puts it, the budget's emphasis on supporting startups which will "further enable growth" and innovation in the sector. The hospitality industries have already started raising a toast for Budget 2025.
