The 10% Dream: India Bets Big on Travel to Power Its Economic Future

Union Minister Gajendra Singh Shekhawat recently made a mega announcement to increase the contribution of tourism to the Indian economy to 10% by 2047 from 5-6% at the moment. Since the economy is likely to become $32 trillion by that time, tourism can become a Rs 260 lakh crore behemoth.

 

Key Takeaways from the CII YiFi

Entrepreneurship Summit 2025

 

- India's tourism and travel sector will grow at a CAGR of 24%

- Infrastructure bottlenecks are resolved, with new destinations opened

- One crore foreign tourists visited India last year

- India's religious tourism is unmatched in the world, with domestic tourism skyrocketing

 

Why the Push Matters

- Tourism is an employment generator: a Rs 1 crore investment can create hundreds of jobs

- Domestic tourism is increasing, as opposed to international destinations that only depend on foreign tourists

- Experiential tourism is gaining pace after Covid, with routes like Ujjain's Mahakal drawing lakhs every month

 

Challenges and Opportunities

- India stands third behind Thailand, Switzerland, and Dubai in international tourist arrivals

- Status of the infrastructure of 50 tourism destinations' hospitality projects is designed to attract private investment

- The state promotes sustainable development, reconciling economic development and the protection of culture

 

Prospect
 

India is positioning tourism not just as recreation, but as a strategic pillar of its economic emergence. With cultural depth, spiritual fascination, and growing global stature, the country is creating a tourism narrative that's experiential as well as economically relevant.

 

Sources: The Indian Express, Fortune India, Economic Times Travel, Business Standard, Daijiworld Media Network