India to emerge as world’s third largest economy in 10 years

 Friday, March 23, 2018 


indiaCurrently India is the seventh largest tourism economy and is predicted to move ahead four places and emerge as the third largest in the next 10 years.
A report by the World Travel & Tourism Council (WTTC) has stated that the sector’s aggregate contribution to the economy would be more than double from Rs. 15 lakh crore in 2017 to Rs. 32 lakhs crore in the year 2028.
It would also be adding about 1 crore new jobs.
As per the WTTC the industry had contributed Ts. 14 lakh crore in the year 2016 or nearly 9.6% of the GDP of India. Domestic travel sector had comprised about 88% of that.
The same year it had supported 4.03 crore jobs in this sector or 9.3% of the nation’s jobs. It had ranked second worldwide in terms of employment generated by tourism. WTTC also said that the number of jobs would further rise from 4.29 crore in 2018 to 5.23 crore in 2028.
The president of WTTC, Gloria Guevara credited the growth to ‘some extremely proactive steps’ initiated by the government.
One of them was the introduction of e-visas for 136 countries to ease the arrival of foreign tourists and also the launch of Incredible India 2.0 Campaign with some major improvement in marketing and PR strategy.
A new cruise port in Mumbai would help make India an international cruise destination as per Guevara.
But then the nation needs to do more to boost growth as specified by Guevara. The primary goal is developing the infrastructure. India needs to focus more on building sophisticated airports, sea ports as well as an excellent network of rail and roads.
The Regional Connectivity Scheme to connect 350 undeserved locations was quite a great move they said.



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