TCS has not impacted business, but it has complicated it: Harmandeep Singh Anand

Speaking about how TCS has affected bookings, Harmandeep Singh Anand, MD, Jagsons Travels, says, “Indians in tiered cities are taking frequent holidays now – often twice a year – and they are travelling not just within India but also taking international trips. Therefore, I would say that the much-dreaded TCS has not impacted business, but it has complicated it.”

He added that the recovery he was expecting by 2025 was fast-tracked and happened by 2023, and most agencies in these smaller cities have seen this growth. Jagsons has also seen a four-fold jump in FY 2023-2024 in its sales turnover as compared to 2019. One of the reasons is that the number of players in the market have gone down, more people are travelling, plus the overall travel expense has increased by about 40-50%. That also added to its turnover.