New Delhi, July 02, 2019: ‘The hospitality and tourism is one of the fastest growing sectors in India and it has the potential to expand by 2.5 per cent with higher budgetary allocation. The employment opportunities are expected to rise by 2% each year to 52.3 million jobs by 2028. While the hospitality sector is expecting better policies and tax reforms, keeping in mind the primary GST rate of 28% on luxury hotels. The high percentage has made the star category hotels in Indian cities the most taxed in the world. By rationalised changes, one may standardise the luxury segment and making India a competition ready with an increase in demand. This would also result into India’s positioning as one of the chosen destinations, enabling the foreign exchange value for the nation’.
Corporate Comm India(CCI Newswire)
