40 projects across 23 states have been identified under Special Assistance to States/Union Territories for Capital Investment (SASCI) scheme, to develop iconic tourist centers to global standards.
About SASCI Scheme
- Aim: To infuse long term interest free loans for a period of 50 years to States for comprehensively develop iconic tourist centers in the country, branding, and marketing them at global scale.
- It envisages the local economy growth and creates employment opportunities through sustainable tourism projects.
India’s Tourism Sector
- Status: India ranked 39th among 119 countries according to Travel and Tourism Development Index (TTDI) 2024 report published by World Economic Forum (WEF).
- India recorded 9.52 million Foreign Tourist Arrivals in 2023, reflecting a 47.9% increase compared to 2022.
- Significance:
- Contribution in GDP: It contributed 5% to India’s gross domestic product (GDP) during 2022-23.
- Employment: In 2022-23, 76.17 million direct & indirect jobs were created due to tourism.
- Foreign Exchange Earnings: India earned over ₹2.3 lakh crore in 2023 through tourism.
- Future Outlook: By 2028, India's tourism and hospitality industry is projected to generate revenue of over $59 Bn.
Initiatives taken to promote tourism in India
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