New Maharashtra Tourism Policy to Attract Significant Investments: HRAWI

The Maharashtra government’s Tourism Policy 2024 was welcomed by hotel and restaurant owners that is aimed at positioning the state as a premier global tourist destination. The Hotel and Restaurant Association (Western India)-HRAWI issued a statement to the press that the New Maharashtra Tourism Policy aims to position Maharashtra as a premier global tourist destination and it will be a game-changer for our industry. HRAWI president Pradeep Shetty said “The policy’s strategic initiatives and incentives are set to attract significant investments.”

Additional Floor Space Index (FSI), relaxed building restrictions to expedite projects, capital subsidies, SGST reimbursement, electricity duty exemptions and interest subventions on loans are some of the key requirements of the industry and once implemented will give a boost to the state’s tourism and hospitality sector, Pradeep said “That we eagerly anticipate its effective implementation within stated objectives and the Ease of Doing Business framework.”

The Maharashtra Cabinet has recently approved an all-inclusive tourism policy for 2024, which aims to attract Rs 1,00,000 crore in investment and generate 18 lakh jobs over the next decade. HRAWI president Pradeep said “The policy’s vital initiatives and incentives are set to attract significant investments.” The policy focuses on key areas to boost tourism’s contribution to Maharashtra’s goal of becoming $1tn economy by 2028.

The policy focuses on key areas such as developing robust infrastructure and partnering with various stakeholders, including tour operators and MICE (meetings, incentives, conference, events) organizers to double revenue generation in their respective sectors. “This reformist policy is a testament to the Maharashtra Government’s dedication to making the State a global tourism hub. We are confident that these initiatives will significantly contribute to the socio-economic development of the region and elevate the state’s standing in the global tourism landscape. Shetty added “We look forward to collaborating with the government to ensure the successful implementation of this policy and transforming the state into a world-class tourist destination.”