TBM Staff - Mumbai The Niti Aayog, a policy think-tank, has put forward several recommendations to revive the Indian tourism industry and help industry stakeholders recover from the financial challenges caused by the COVID-19 pandemic.
The Niti Aayog suggests providing direct cash support to the aviation sector, including airlines, ground handling, and airports. It also recommends waiving parking and landing charges. These measures aim to help the aviation sector recover from the adverse impact of the pandemic.
Additionally, the Niti Aayog highlights the potential of medical value travel (medical tourism) in India. It suggests greater integration between the Ministry of Tourism and the Ministry of External Affairs to brand and market medical tourism effectively. The think-tank also proposes the creation of a separate tourism fund under the Ministry of Tourism, which would provide collateral-free loans with a 10-year repayment period, a two-year moratorium, and a minimal rate of interest.
As a pre-budget suggestion, the Niti Aayog recommends the establishment of a INR 500-crore fund invested in easily retractable government bonds or securities by the Ministry of Tourism. They also propose an annual investment of INR 100 crore for the next 20-30 years to ensure the industry’s sustainability during future crises.
Furthermore, the Niti Aayog suggests launching a new campaign called “Incredible India 3.0” with a focus on key source markets such as the USA, UK, France, Germany, Italy, Spain, Russia, and Japan. This campaign aims to promote tourism from these countries for the next five years.
These recommendations seek to address the challenges faced by the Indian tourism industry and provide support to revive and sustain the sector, thereby aiding its recovery from the pandemic’s impact.
