Pradeep Shetty, President, Federation of Hotel & Restaurant Associations of India (FHRAI), revealed that India’s hospitality industry contributes 12-13% to the GDP and employs over 12% of the workforce. These figures place the industry ahead of both the automobile and IT sectors in terms of economic contribution.
Read More »FHRAI calls for long term financing and regulatory reforms for hospitality sector
At 54th FHRAI Annual Convention, Pradeep Shetty, President, FHRAI, highlighted the need for long-term financing in the hospitality sector, with current funds only available for 7-8 years. He urged for regulatory reforms, including streamlined licensing and single-window systems, to unlock the industry’s full potential.
Read More »India’s hospitality industry to contribute US$250 bn to the country’s GDP by 2030, says Pradeep Shetty
Pradeep Shetty, President, FHRAI, projected that the hospitality industry will contribute US $250 bn to India’s GDP by 2030, supporting 137 million jobs. He stressed on the role of long-term financing and regulatory reforms to achieve this vision, aiming for a US $3 tn contribution by 2047.
Read More »India’s Hospitality Set to Contribute $250 Bn to GDP by 2030: Pradeep Shetty at 54th FHRAI Convention
The Indian hospitality industry is primed to make a significant contribution to the country’s economy, according to Pradeep Shetty, President, Federation of Hotel & Restaurant Associations of India (FHRAI). Addressing the 54th FHRAI Annual Convention on Day 1, Shetty projected that the sector will contribute a substantial $250 billion to India’s GDP by 2030, supporting 137 million jobs. To achieve this ambitious target, Shetty emphasised the need for long-term financing and regulatory reforms. The industry aims to contribute $3 trillion to the GDP by 2047. FHRAI Calls for Regulatory Reforms Shetty highlighted the critical need for long-term financing in the sector, noting that current funding options are limited to 7-8 years. He urged the government to implement regulatory reforms, such as streamlined licensing procedures and single-window systems, to unlock the industry’s full potential. Hospitality Sector Outperforms Other Industries The Indian hospitality industry is already making a substantial impact on the economy, contributing 12-13 per cent to the GDP and employing over 12 per cent of the workforce. These figures surpass those of the automobile and IT sectors, highlighting the industry’s economic significance. Sector to Add 50,000-60,000 Rooms in Next Five Years The President announced that the hospitality sector is set to expand significantly, with plans to add between 50,000 and 60,000 new hotel rooms over the next five years. This expansion will further boost employment opportunities and contribute to the country’s economic growth. FHRAI Submits Ease of Doing Business Report To address the challenges faced by the industry, FHRAI has submitted a comprehensive report on the ease of doing business in hospitality to the government. The report focuses on critical areas for reform, including simplifying regulatory compliance, reducing licensing burdens, …
Read More »Sustainable tourism to rise at 19.3% CAGR by 2032, eco-tourism to expand by 5.7% from 2019 to 2027
According to a report prepared by FHRAI, KPMG and PHDCCI, India’s sustainable tourism market is projected to grow at CAGR of 19.3 per cent by 2032. Eco-tourism alone is projected to expand by 15.7 per cent from 2019 to 2027, reaching a staggering market size of US$4.55 billion.
Read More »Awards like ‘DDP Trailblazer’ inspire us to do much more, says Pradeep Shetty at India Travel Awards
Pradeep Shetty, President, HRAWI & FHRAI won the DDP Trailblazer award at the India Travel Awards. Upon receiving the award, he said, “Awards like these play a vital role in boosting the morale of the younger generation and inspiring them to consider careers in hospitality. This recognises the efforts made by the hospitality industry at large, by the owners and associations, all of whom are behind me and supporting me. It also inspires us to do much more.”
Read More »FHRAI reiterates its demand for infrastructure status to hotels and convention centres in meeting with govt
FHRAI reiterated one of its key requests in the pre-budget meeting conducted by the Finance Ministry to grant infrastructure status for hotels across all categories and convention centres built at a project cost of ₹10 crore and above to give a fillip to the budget segment in the industry, along with 12 per cent GST rate across all hotels.
Read More »FHRAI hosts gathering to boost J&K’s travel sector, aims to make the UT a premier tourist destination
In a bid to boost tourism in Jammu and Kashmir, FHRAI organised a pivotal gathering of tourism stakeholders. The event ignited discussions to propel Union Territory’s tourism development through regulatory frameworks, facilitating investments, and implementing innovative marketing strategies to showcase J&K as a premier tourist destination.
Read More »FHRAI to file writ petition in Delhi HC to seek relief from adverse provisions under DGFT policy: Pradeep Shetty
In a significant development, the Federation of Hotel & Restaurant Associations of India has initiated legal action to seek appropriate remedies for hotel members affected by adverse provisions from the Delhi HC for the hospitality sector from the DGFT. “The hospitality sector must receive fair treatment under the Foreign Trade Policy,” said Pradeep Shetty, President, FHRAI.
Read More »54th FHRAI Annual Convention to be held in Goa from 16-18 October, announces Pradeep Shetty
The 54th Annual Convention of FHRAI will be held in Goa from 16-18 October, 2024. Pradeep Shetty, President, FHRAI, announced the same at Travel For Life Tourism Sustainability Summit, held in Delhi. “FHRAI is committed and focused to make sustainable tourism its new agenda for growth,” he said.
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