Tag Archives: investments

Telangana is keen to establish its distinct identity after separating from Andhra Pradesh.

Telangana unveils Tourism Policy 2025-30; envisages INR 15lakh crore investments

The Telangana Legislative Assembly on Tuesday approved the state’s first-ever tourism policy — Telangana Tourism Policy 2025-30 — a comprehensive framework to attract investments, create employment and increase the state GDP, while facilitating ‘safe tourism’.

Introducing the tourism policy in the Assembly, Tourism & Culture Minister Jupally Krishna Rao said that the tourism sector was grossly neglected in the last 10 years. He also noted that the tourism sector witnessed losses during the last 10 years.

The tourism policy is also aimed creating infrastructure like tourist attraction projects close to Rajiv Gandhi International Airport, dry ports along the proposed Regional Ring Road (RRR), shopping facilities, river based tourism, and creating Special Tourism Areas (STAs).

The Telangana Tourism Policy 2025-30 is designed to provide necessary impetus to tourism infrastructure development with strategic concessions and incentives to significantly accelerate the establishment of new tourism projects. It is expected to promote Telangana as one among the top tourist destinations across the globe with effective branding strategies, capacity-building and institutional mechanisms, reads the policy document.

The government also proposes to establish the State Tourism Promotion Board (STPB), Empowered Committee (EC), State Tourism Promotion Committee (STPC), Destination Management Organisations (DMOs), and special frameworks for the implementation of tourism policy.

The key objectives include: Attract Rs 15,000 crore new investments to the tourism sector in next five years, to create additional employment opportunities for three lakh people, to position the state in top five states in domestic and international tourist arrivals. The government also proposes to return 50 per cent of state GST collected, and give special incentives to some of the tourism projects.

As part of providing safe tourism experience, the policy has provisions to create dedicated tourist police units/tourist patrols across the key tourist destinations. The tourism policy also acknowledged women-friendly measures to ensure the safety of female tourists, and leverage Tourism Friendly Index (TFI) to evaluate the safety standards of destinations.

Proposed infrastructure development
• Position Rajiv Gandhi International Airport, Shamshabad as focal point by creating iconic projects in the vicinity, within one to two hours drive
• Develop dry ports along the proposed Regional Ring Road (RRR) duly connecting it with Greenfield Highway to Machilipatnam Port, thus facilitating it as hub for construction materials /building materials shopping and promoting business tourism
• Promote Godavari and Krishna river tourism by developing jetties and launch stations, water sports, house-boats and initiate “River Festivals” on the lines of Venice Water Carnival
• Encourage Waterfront development along the lakes in urban areas as weekend getaways with adventure activities, kids’ zone and local retail outlets
• Explore golf tourism potential in the state
• Conduct Familiarisation (FAM) trips for domestic and international travel community, more importantly South East Asian countries for attracting large numbers of Buddhist tourists & investments to the state

(Source: New Indian Express)

Karnataka has a variety of options to entice tourists.

Karnataka clears new Tourism Policy; eyes INR 1,500cr investments

The Karnataka Cabinet yesterday cleared the new Tourism Policy for the state, with the government eyeing investments to the tune of INR 1,500 crore in the sector.

Karnataka plans to attract 20 lakh foreign tourists a year to be among the top five states in this category, and with respect to domestic footfalls it wants to be among the top three states with a target of 48 crore local tourists, Law and Parliamentary Affairs Minister H K Patil told reporters after the Cabinet meeting.

“The Cabinet after detailed discussion has given its nod to announce the Karnataka Tourism Policy 2024-29 and to release subsidies, grants under the policy,” Patil said. He further said the new tourism policy wants to promote tourism in the state under themes — adventure, agriculture, caravan, coastal, beach, cuisine, cultural, traditional, environment, education, film, golf, sports, tribal, wedding destination, health tourism among others.

“… apartment, hotel, service apartments, aquarium, beach shacks, amusement parks among 46 tourism projects have also been identified and special impetus will be given for tourism promotion among all these sectors,” he said.
Patil said the state government’s intention is to see an increase in influx of both foreign and domestic visitors.

“To be among the top five states which are destinations for foreign visitors, we must reach 20 lakh foreign visitors a year, our target is to reach a minimum 20 lakh… it is now about 12-14 lakh,” he noted.

“To become one among the top three destinations among the states for domestic footfall, the footfall in our existing tourism points should be about 48 crore a year, but we are now about 30-32 crore. We would make efforts in the next five years to reach 48 crore,” he added. (Source: PTI)

 

World T&T deals decline 10.9% during Jan-March: GlobalData

Travel and tourism sector witnessed 10.9% year-on-year (YoY) decline in the number of deals (mergers and acquisitions (M&A), private equity (PE) and venture financing) announced globally during January-May 2024.

Despite this downturn, PE deals showed improvement, and European markets showed growth, highlighting new opportunities for strategic investments, according to GlobalData, a data and analytics company.

An analysis of GlobalData’s Deals Database revealed that the total number of deals announced in the travel and tourism sector globally fell from 321 during January-May 2023 to 286 during January-May 2024.

Meanwhile, the number of M&A and venture financing deals declined by 5.7%, and 28.4%, respectively, during January-May 2024 compared to January-May 2023, whereas private equity deals volume showcased 9.1% YoY growth.
Aurojyoti Bose, Lead Analyst at GlobalData, said, “Deal-making sentiments have taken a hit across several sectors, including travel and tourism. The impact was felt in most of the regions and several key markets.”

For instance, deals volume for North America, Asia-Pacific, Middle East and Africa and South and Central America regions recorded YoY decline of 32.3%, 8.2%, 25% and 40%, respectively, during the review period. However, Europe emerged as an exception and showcased a YoY growth of 13.4% in deals volume during January-May 2024.

Meanwhile, several key global markets including the US, China and Australia saw respective deals volume declining by 30.4%, 52.2% and 15.4% during January-May 2024 compared to during January-May 2023. However, some markets such as the UK, India, South Korea and Germany managed to see some improvement in deal activity.

Bose added, “Despite the overall decline in deal activity in the travel and tourism sector, the improvement in markets like Europe, the UK, India, South Korea, and Germany demonstrate the sector’s adaptability and potential for strategic investments. Investors should seize these emerging opportunities to navigate the evolving landscape and drive future growth.”

Global T&T deals decline 10.9% during Jan-March: GlobalData

Travel and tourism sector witnessed 10.9% year-on-year (YoY) decline in the number of deals (mergers and acquisitions (M&A), private equity (PE) and venture financing) announced globally during January-May 2024.

Despite this downturn, PE deals showed improvement, and European markets showed growth, highlighting new opportunities for strategic investments, according to GlobalData, a data and analytics company.

An analysis of GlobalData’s Deals Database revealed that the total number of deals announced in the travel and tourism sector globally fell from 321 during January-May 2023 to 286 during January-May 2024.

Meanwhile, the number of M&A and venture financing deals declined by 5.7%, and 28.4%, respectively, during January-May 2024 compared to January-May 2023, whereas private equity deals volume showcased 9.1% YoY growth.

Aurojyoti Bose, Lead Analyst at GlobalData, said, “Deal-making sentiments have taken a hit across several sectors, including travel and tourism. The impact was felt in most of the regions and several key markets.”

For instance, deals volume for North America, Asia-Pacific, Middle East and Africa and South and Central America regions recorded YoY decline of 32.3%, 8.2%, 25% and 40%, respectively, during the review period. However, Europe emerged as an exception and showcased a YoY growth of 13.4% in deals volume during January-May 2024.

Meanwhile, several key global markets including the US, China and Australia saw respective deals volume declining by 30.4%, 52.2% and 15.4% during January-May 2024 compared to during January-May 2023. However, some markets such as the UK, India, South Korea and Germany managed to see some improvement in deal activity.

Bose added, “Despite the overall decline in deal activity in the travel and tourism sector, the improvement in markets like Europe, the UK, India, South Korea, and Germany demonstrate the sector’s adaptability and potential for strategic investments. Investors should seize these emerging opportunities to navigate the evolving landscape and drive future growth.”

Ixigo IPO to open on June 10; plans to raise INR 840cr

The initial public offering (IPO) of Le Travenues Technology (Ixigo) is set to open on Monday, June 10, 2024. The company will be offering its shares in the range of INR 88-93 apiece.

Investors can apply for a minimum of 161 equity shares and its multiples thereafter until Wednesday, June 12.

Founded in 2006, Le Travenues Technology is an online travel agency (OTA) that enables travellers to book train, flight, and bus tickets as well as hotels under the brand name ‘Ixigo’. The company has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps, reports Business Today.

The IPO of Ixigo will include a fresh share sale of INR 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares by its existing shareholders amounting to little more than INR 620.10 crore. At the upper end of the price band, the company is looking to raise about INR 840 crore via IPO route.

SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Madison India Capital and Capital Trusteeship are the selling shareholders in the offer-for-sale. Anchor book will open on Friday, June 7.

The net proceeds from the issue shall be utilised towards part-funding working capital requirements of the company; investments in cloud infrastructure and technology; funding inorganic growth through unidentified acquisitions and other strategic initiatives; and general corporate purposes. Proceeds from the OFS shall go to the selling shareholders of the company.

Its list of services includes PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support. (Source: Business Today)

SKIL appoints Deepak Bohra as Chief Financial Officer

SKIL has appointed Deepak Bohra as Chief Financial Officer (CFO). Bringing over 15 years of overall experience, Bohra is a distinguished Chartered Accountant (CA) and Company Secretary (CS) with a remarkable track record in finance, accounts, and strategic financial management.

Bohra’s career journey has navigated diverse sectors, including NGOs, startups, corporates, and CA firms, highlighting his ability to adapt to and excel in varied financial landscapes. His expertise spreads to business analysis, management, and adept liaison skills, etc., that are crucial to safeguarding any organization’s financial well-being.

His expertise spans various financial tools, including SAP, Zohobooks, Quickbooks, Tally, and advanced Excel. Deepak is also recognized for strategic budgeting, financial modelling, fundraising, CSR funding, crowdfunding, investor relations, process streamlining, and accounting automation. His in-depth knowledge of finance has aided him to soar to newer heights in terms of his responsibilities in accounting and control systems, along with core competencies in taxation, legal compliance, and accounting.

He has been exceptional in academics and holds the prestigious titles of Chartered Accountant (CA) from ICAI and Company Secretary (CS) from ICSI.

In his prior role as Associate VP – Finance at 1 to 1 Help Pvt Ltd., Bengaluru, Bohra showcased his financial leadership expertise. Notable highlights from his career include successfully overseeing the merger of City Link Portal Private Limited with Jayem Inland Transport, securing significant financial facilities for a logistic startup, and founding an Edtech startup with a novel revenue generation model targeting the untapped customer niche of unsuccessful CA students.

Speaking about his appointment as CFO at SKIL, Deepak said, “It is going to be an exciting role with SKIL, and I look forward to contributing to the company’s financial success and growth. SKIL has a robust reputation, and I am excited to be part of the team.”

Shylendra Jindal, Managing Director, SKIL Travel, said, “We are excited to welcome Deepak Bohra to SKIL as our CFO. His extensive experience and seasoned financial acumen will surely enhance our strategic financial collaborations and investments, helping SKIL to achieve new heights.”

Having managed teams and projects with precision, including a team of 56 professionals in a technology-based work-from-home environment with zero errors, Bohra is poised to play a pivotal role in SKIL’s financial strategy and overall success.