FAITH proposes ‘PM – Holiday in India Export Support’

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FAITH, the policy federation of all the ten national associations representing the complete tourism, travel and hospitality industry of India – ADTOI, ATOAI, FHRAI, HAI, IATO, ICPB, IHHA, ITTA, TAAI and TAFI has proposed, PM – HINES or “Prime Minister – Holiday in India Export Support” for the upcoming foreign trade policy to fast track tourism, travel and hospitality exports from India.

PM – HINES is a combination of two existing similar support mechanisms of the government for encouraging duty-free exports and PLI scheme. Considering the drawback of all domestic duties, levies and taxes which have implicitly been built into the price of tourism in India and the market linked incentives based on increasing exports encouraging tourism, travel and hospitality companies to invest and push the GDP growth by broadening the prospects of jobs and tax collection pan India.

This will boost the tourism, travel and hospitality exports globally, as tourism enterprises will use the drawback incentive to market internationally, advertise, build global partnerships and reduce overall prices bolstering a remarkable increase in forex earnings.