The eagerly awaited inauguration of the Ram Mandir took place in Ayodhya on Jan 22. With over $10 billion in investments made, the city is expected to attract around 5-10 cr footfall every year. This influx of pilgrims is poised to create lucrative opportunities for many sectors. Let s take a look:
The emerging industry of spiritual tourism, which focuses on inner peace and connection with the divine, has gained popularity, especially after COVID-19. The Ayodhya Ram Mandir in Ayodhya is expected to become a hub for spiritual tourism, attracting thousands of visitors daily. The government s efforts to revive tourism sites and the contribution of tourism to India s GDP make it an attractive sector for investors. Stocks in sectors such as hotels, travel, telecom, and infrastructure are expected to benefit from the growth of spiritual tourism.
Standstill Obligations Removed for Open Market Transactions natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
Hospitality and travel sector players demand infrastructure status for the hotel industry, tax exemption on LTA, and reduction in income tax levels. They also recommend removal of TDS on automated bookings and reducing the number of licenses required to establish a hotel. The industry seeks rationalization of GST and a Central single window clearance for hotel projects. Lowering of GST rates on hotel room tariffs above Rs 7,500 is also requested.