Unleashing India's Tourism Potential: A Roadmap to Employment and Economic Growth
Lemon Tree Hotels Chairman Patanjali Govind Keswani highlights the potential of India's tourism sector to address 50% of employment challenges with proper government support. Speaking at the National Conclave on India 2047 by IIM Calcutta, he emphasized the sector's potential economic impact, drawing parallels to China's growth trajectory.
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Lemon Tree Hotels Chairman and Managing Director Patanjali Govind Keswani believes India's tourism sector could resolve 50% of the country's employment issues with adequate government support. Speaking at the first National Conclave on India 2047, organised by IIM Calcutta, Keswani emphasized that India's tourism industry is nearing a significant turning point.
Keswani noted that in many countries, tourism contributes 15-20% to GDP and accounts for 25% of employment. He lamented that in India, tourism only contributes 6.5% to GDP and employment. He argued that with appropriate government leverage, the sector's job-creating potential could address half of India's employment challenges.
Discussing India's economic climate, Keswani likened India to China during its rapid growth phase, highlighting a 6-7% annual growth in household incomes. This growth sets the stage for major changes in consumption patterns. He predicted a surge in households able to afford discretionary goods, with expected expansion in infrastructure offering new opportunities for tourism.
(With inputs from agencies.)