The Union Ministry of Tourism is open to considering financial incentives for the travel trade and has discussed treating tourism earnings as export earnings for taxation purposes, said Bhuvnesh Kumar, Secretary, Ministry of Tourism, at the 69th TAAI Convention in Kolkata. No specific incentive scheme or tax change was announced.
“We are also open to looking at financial incentives,” Kumar said, referring to discussions on whether tourism earnings should be treated as exports and exempted from tax. He said India’s tourism foreign exchange balance had turned negative from a net positive position around four years ago, as outbound travel increased. Kumar called for attracting more foreign visitors to India to help offset the outflow, adding that Indians should continue travelling overseas.
Shreya Bansal is a reporter at TravTalk India, covering the travel and tourism industry. She brings a keen eye for emerging trends, trade developments, and the stories shaping the travel landscape. Through in-depth reporting and on-ground insights, she connects industry stakeholders with news that matters. Beyond travel, Shreya has a growing interest in the premium lifestyle space, particularly the world of fine jewellery and is eager to explore the craftsmanship, culture, and commerce that define luxury living.