Indian tourism sees silver lining of opportunity in plummeting rupee
MUMBAI, India - Tourism industry wants to 'make the most' of the falling rupee.
MUMBAI, India – Tourism industry wants to ‘make the most’ of the falling rupee. Unlike the common man in India, a section of the travel industry sees a silver lining of opportunity in the plummeting value of the rupee.
As the Indian currency prepares to drop to historic lows of Rs 62 to a dollar, raising the cost of basic items like fuel and edible oil and threatening interest rates, the tourism industry wants to “make the most” of the situation.
Addressing a press meet to announce the upcoming CII Tourism Fest, Randhir Brar, executive director, Le Passage to India, a private travel firm, said, “Considering the current dwindling of the rupee, the Indian tourism sector has the potential to grow tremendously because of cheaper costs.
Hence we should make the most of it and present the north as a major tourist destination (sic).” The CII Tourism Fest will be organised in December in Chandigarh. Navjotpal Singh Randhawa, director, tourism, in the government of Punjab, said the taxation regime of northern Indian states needs to be integrated to ensure “seamless travel”.