With the imposition of TCS, the tourism product sold from India will become almost 5% – 10% more expensive at the time of booking as against when booked through travel companies based outside of India
Federation of Associations in Indian Tourism & Hospitality (FAITH)
Posted inBusiness
FAITH raises a host of requests to KV Kamath RBI expert committee
The hospitality body has requested 24-month extension of the moratorium for tourism, direct benefit transfer on funds closer to repo rate, tourism asset classification to stay ‘standard & not NPA’ among others
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FAITH requests Tourism Ministry to address negative travel advisory from the USA on an urgent basis
The United States of America currently has a travel advisory, rated level 4 for India (as on 23rd Aug 2020)
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FAITH Bodies requests Ministry of Tourism to revive both demand and supply drivers
FAITH and its 10 member associations in a multi association meeting with Ministry of Tourism proposed multi-step strategies for the revival of tourism. These issues were identified to enhance tourism demand while protecting tourism supply in India
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Posted inBusiness
FAITH makes SOS requests to Government to support Tourism
FAITH has over the week requested RBI, Ministry of Finance, Ministry of Civil Aviation, Ministry of Commerce, Ministry of Tourism, Niti Aayog for structured fiscal & monetary support to the tourism, travel & hospitality industry
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With deteriorating situation, FAITH revises tourism value at risk guidance to ₹15 lakh crores
FAITH’s first guidance which was calculated and was shared with the Government in March 2020 had put tourism’s economic value at risk at ₹ 5 lakh crores from this pandemic
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Indian states set to lose tourism as an industry; FAITH requests CM of 28 states for specific support package
COVID-19 Pandemic has jeopardized all top-performing foreign source markets for tourism impacted (USA, Canada, UK, Germany, China, Japan, Singapore, Russia, Italy, Spain), interstate domestic season which is almost 60%+ in the April – July period has collapsed for the FY 2020-21
Posted inBusiness
FAITH urges Govt of India for immediate revival package
FAITH urges the Government to declare immediate survival measures to prevent mass bankruptcy and crores of unprecedented layoffs
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Tourism bodies demand RBI’s 3-month moratorium on loan repayments be extended to 12 months
In the wake of coronavirus pandemic, they said interest accrual should stop during that period to help out the sector.
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Coronavirus Impact: FAITH, nodal agency for tourism seeks PM Modi’s help for exemptions
Anand highlighted that, “around 70% out of a total estimated workforce of 5.5 crores (direct and indirect) could get unemployed (~ 3.8 crores)