Tag Archives: EbixCash Travel & Holidays

Naveen Kundu, MD, EbixCash Travel & Holidays, has said that while they keep doing something new, they are currently consolidating themselves in India because when we acquired companies in 2018-2019, we were hit by pandemic, which was bad. “We had made huge investments in India and it’s time to relaying our foundation and now everything is growing organically, and we are very focused in what we are doing,” he said.

Naveen Kundu, Managing Director, Ebixcash- Travel & Holidays, has said that he has huge expectations from this budget and his request to the Finance Minister is to declare tourism sector as a priority sector for the next two years and offer it industry status. Also, he requested for tax refunds to domestic travellers who spend large amount of their vacation budgets in India. Other recommendations included budget for loans with rates of interests as offered to industry, with flexibility of re-structuring the loans at least twice due to the frequent lean cycles. “The government shall offer tariffs which are at par with the industry if not lower. Provide tax concession to hotels and resorts in India to boost demand for domestic tourism and inbound tourism. Provide tax subsidy to travel agents who promote inbound tourism (FOREX earning agencies) and offer them incentives on earning FOREX as exports sector. Create a budget to appoint several large PR companies globally to promote ‘Product India’ with all its diversity and hospitality. Offer a financial tax support to corporates / associations who conduct their meetings & events in India. Offer direct financial support of up to Rs. 1000 crores for all global companies/ associations and world bodies who conduct their events, conferences and exhibitions in India. Announce a state-of-the-art skill development institute on the lines of IIM, which will be India’s first tourism university offering various courses. Reduce haulage on luxury trains and offer tax subsidy on operating more luxury and Bharat Gaurav trains in India,” he said.

Analysing the revival plans for the tourism industry post-COVID-19crisis, Naveen Kundu, Managing Director, EbixCash Travel & Holidays has said that there will be a lot of behavioural changes in the industry including a complete price realignment for every tourism product. He said that post-COVID-19 crisis, rationalisation and consolidation will become important they will look at special interest acquisitions going forward when the situation is normalised.  “Ebix has always been bullish about the Indian market. Post COVID-19, there will be a complete paradigm shift in the industry, which will make a consolidation opportunity for us. We will be looking at special interest acquisition and continue the way we have progressed in the Indian market. Among sectors, I believe MiCE industry will be the first one to bounce back,” said Kundu.