Maharashtra's Ambitious Tourism Policy: A Game-Changer for Industry

Hotel and restaurant owners have praised Maharashtra's new Tourism Policy 2024, set to position the state as a top global tourism destination. The policy includes incentives and strategic initiatives aimed at attracting significant investments, boosting job creation, and enhancing infrastructure, thereby contributing favorably to the state's economic goals.

A section of hotel and restaurant owners on Saturday welcomed the Maharashtra government's Tourism Policy 2024, aimed at positioning the state as a premier global tourist destination.

"This progressive framework is a game-changer for our industry," the Hotel And Restaurant Association (Western India) - HRAWI said in a statement. The policy's strategic initiatives and incentives are set to attract significant investments, HRAWI president Pradeep Shetty stated.

Key initiatives include additional Floor Space Index (FSI), relaxed building restrictions, capital subsidies, SGST reimbursement, electricity duty exemptions, and interest subventions on loans, which will boost the state's tourism and hospitality sector, Shetty explained.

"We eagerly anticipate effective implementation within the Ease of Doing Business framework," Shetty added.

The Maharashtra Cabinet recently approved the policy, aiming to attract Rs 1,00,000 crore in investment and generate 18 lakh jobs over the next decade.

Identifying key areas for tourism, the policy targets making Maharashtra a USD 1 trillion economy by 2028. It focuses on developing infrastructure and partnering with stakeholders to double revenue generation in various sectors.

"This policy demonstrates the Maharashtra Government's dedication to becoming a global tourism hub. We are confident these initiatives will significantly contribute to the socio-economic development and elevate the state's global tourism standing," Shetty concluded.

(With inputs from agencies.)