India’s tourism and hospitality industry leaders have slammed the government for ignoring the industry in the US$263 billion stimulus package.
After weeks of discussions, the industry has been left in a state of ‘disbelief and shock’ the Federation of Associations in Indian Tourism and Hospitality (FAITH) said.
The organisation made multiple requests to the respective ministries.
"Indian tourism industry has gone into a state of disbelief and shock. It was looking forward to deep set of survival measures for tourism from the 20 trillion rupees package announced over five days, which however were not addressed," it said in a statement.
"With no visible cash inflows, the Indian tourism industry is now looking at large scale bankruptcies, business closures which will lead to job losses across India. This has the potential to set back the Indian tourism, travel and hospitality industry by many years," FAITH said.
According to the body’s CEO, Aashish Gupta, the short term survival of the industry is now in doubt.
FAITH wants an interest- and collateral-free long-term fund to help pay for salaries and operating costs and a 12-month waiver of state taxes and banking fees.
The Hotel Association of India said the travel and hospitality industry is bracing for losses of $66 billion and tens of millions of direct and indirect jobs are at risk.
