FAITH, the policy federation of all the national associations representing the complete tourism, travel and hospitality industry of India.
New Delhi, Oct 22: FAITH, the policy federation of all the national associations representing the complete tourism, travel and hospitality industry of India (ADTOI, ATOAI, FHRAI, HAI, IATO, ICPB, IHHA, ITTA, TAAI, TAFI), have jointly expressed their deep gratitude to Prime Minister Narendra Modi for leading a national effort of the Central and state governments, MPs and State Legislatures and most critically all vaccine warriors to achieve the 100 crore vaccination landmark.
All FAITH Associations constantly in one voice have been engaging with all stakeholders of the national & state governments, parliamentarians & institutions such as Parliamentary Committee, RBI, Niti Aayog and others over the past 18 months on extending support for survival and revival of the sectors.
Indian Tourism pre- pandemic had handled business of almost 11 million international inbound tourists, almost 17 million international visitors arrivals, almost $30 billion in forex, 2.3 billion and domestic tourism visits and almost 27 million outbound travellers. All of this business was shut down since February end/March 2020 creating severe financial distress over the past 18 months for the complete Indian Tourism Value Chain of travel agents, hotels, tour operators, tourist transporters, restaurants and other tourism service providers. FAITH Associations in March 2020 had estimated that this pandemic would have put at risk an estimated 5 crore jobs and almost Rs 15 lakh crore of economic impact both from a direct and indirect impact.
"Presidents and ECs of all FAITH member associations have been relentlessly jointly along with Min. of Tourism in one voice, engaging with national & state Governments on support to tourism, travel & hospitality industry of India .We are thankful to the PM for leading an unprecedented joint national team effort in such trying times to reach the 100 crore vaccination which will be the inflection point for restart to a healthy Indian tourism, travel & hospitality industry and will provide it with its rightful socio-economic contribution in Indian economy and on the world stage," said Nakul Anand, Chairman FAITH on behalf of all board of directors of FAITH.
The issues which have been constantly highlighted together by all the FAITH Associations have covered fiscal & taxation support from the Central government, monetary support from the RBI, regulatory support from the State Government & policy support from Ministry of Tourism.
These have covered requests such as GST tax holiday, interest free/low interest loans with multi year moratorium for principle & interest, e-visa fee waiver, waiver of statutory liabilities such as provident fund, ESI and license fee, power & utility tariff, interstate tourist transportation taxes, underwriting of travel agent losses, abolition of TCS among other things.