High Taxes Hinder India's Hospitality Potential
Puneet Chhatwal, MD and CEO of Indian Hotels Company Limited, highlights high tax rates as a major obstacle for India's hospitality sector in attracting foreign tourists and building global brands. He calls for additional support, citing infrastructure status for tourist sites and the need for industry status.
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- India
Puneet Chhatwal, MD and CEO of Indian Hotels Company Limited, emphasized the significant potential for India to attract foreign tourists. However, he pointed out that high tax rates severely hinder the country's ability to create global hospitality brands.
At the CII's Annual Business Summit, Chhatwal called for additional support for the sector, referring to the infrastructure status accorded to 50 tourist destinations in the recent budget and the demand for industry status. He noted the lack of competitive advantage due to high taxes and limited promotional budgets.
Chhatwal acknowledged the recent budget's recognition of tourist destinations and infrastructure needs, hoping for further progress. He emphasized India's future role in global tourism, powered by the aspirations of a growing middle class with disposable income and international travel ambitions.
(With inputs from agencies.)
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