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Industry Scenario & Employability
The easing of restrictions in capacity expansion for incumbents, removal
of price controls and reduction in the corporate tax rate in the 1980s initiated the process
of market growth in India. India Market Growth got further accelerated with the economic
liberalization of 1991 which marked an end to the License Raj, thereby ending many public
allowing direct foreign investment in many sectors.
Today the leading markets of India are the - Tourism & Hospitality, Telecommunications and
Communication, Manufacturing, Construction, Transport and Communication, Personal products,
Health care, Education, Recreation and Vehicle.
Travel & Tourism, one of the world's largest industries, - employ approximately 231 million
people and generating over 10 per cent of world GDP, according to the World Travel & Tourism
Council report in 2007. It is the largest generator of wealth and significant creator of job
opportunities.
Today the hospitality industry is much more than hotel and restaurant enterprises. It now
encompasses an array of companies that specialize in airlines; cruise lines; sports arenas
and entertainment /amusement centers; senior living communities; car rentals; casinos; club
management; real estate development; meeting planning; consulting; corporate managed services;
finance companies with ties to investment banking and the stock markets; asset management;
conference/convention planning; facility design; catering; bed-and-breakfast operations;
large chain restaurants; general bank management and franchise management; accounting; law;
human resources and management training; information technology; travel agencies; and much more.
In India Several global hotel chains like the Hilton, Accor, Marriott International,
Berggruen Hotels, Cabana Hotels, Premier Travel Inn (PTI), InterContinental Hotels
group and Hampshire among others have all announced major investment plans for the
country. The Government has moved to declare hotel and tourism industry as a high
priority sector with a provision for 100 per cent foreign direct investment (FDI).
This has also provided a further impetus in attracting investments in this industry.
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