The Government of India (GOI) said that the goal of the government is committed to creating multiple opportunities for MSMEs, boost tourism with the help of upcoming infrastructure projects, in a webinar on ‘MSME Travel and Hospitality Industry’, organized by FICCI and supported by (On Your Own) OYO Hotels and Indian Association of Tour Operators.
The infrastructural projects in the pipeline as part of the Central Government’s plans have laid the foundation to boost domestic tourism in the country, using innovation as key to the revival of the travel and hospitality sector.
The government's initiatives, such as collateral-free automatic loans for business, including MSMEs; INR 50,000 crore equity infusion through MSME Fund of Funds, which benefits companies with higher credit ratings, will generate tremendous business opportunities. It will turn into a win-win situation for the industry.
The domestic tourist destinations, including hills, forests, and religious pilgrimage, will benefit from upcoming projects such as Char Dham Road, New Delhi-Dehradun Expressway, 22 Green Express Highways, and others. There's a huge potential for small hotel partners, agents to tap into this and look at expanding their offerings catering to the needs of tourists.
The government's vision to support MSMEs and their efforts to revive the hospitality sector in the country is supported by the OYO Hotels & Homes, thus boosting the local communities and small businesses with various initiatives such as home-stays, generating economic opportunities to boost domestic tourism in the country.
Pronab Sarkar, President, Indian Association of Tour Operators (IATO) & Founder Member said: "With domestic tourism uptake being affected during the pandemic, we have been continuously supporting the government in its measures to revive the economy. However, with the sector being worst affected, we are still hopeful for some financial support/stimulus package, policy changes so that our tour operators and travel agents can benefit from the required working capital to sustain these challenging times."
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