Category Archives: Associations

India on track to become third-largest economy by ’27; tourism’s contribution can be immense: Puneet Chhatwal

“India is on the path to become the third-largest economy by 2027,” said Puneet Chhatwal, MD & CEO, IHCL at the 54th FHRAI Convention, adding that the contribution of tourism can be significant in this. He predicted the sector could double its $250 bn contribution to the GDP in the coming years.

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India’s Hospitality Set to Contribute $250 Bn to GDP by 2030: Pradeep Shetty at 54th FHRAI Convention

The Indian hospitality industry is primed to make a significant contribution to the country’s economy, according to Pradeep Shetty, President, Federation of Hotel & Restaurant Associations of India (FHRAI). Addressing the 54th FHRAI Annual Convention on Day 1, Shetty projected that the sector will contribute a substantial $250 billion to India’s GDP by 2030, supporting 137 million jobs. To achieve this ambitious target, Shetty emphasised the need for long-term financing and regulatory reforms. The industry aims to contribute $3 trillion to the GDP by 2047. FHRAI Calls for Regulatory Reforms Shetty highlighted the critical need for long-term financing in the sector, noting that current funding options are limited to 7-8 years. He urged the government to implement regulatory reforms, such as streamlined licensing procedures and single-window systems, to unlock the industry’s full potential. Hospitality Sector Outperforms Other Industries The Indian hospitality industry is already making a substantial impact on the economy, contributing 12-13 per cent to the GDP and employing over 12 per cent of the workforce. These figures surpass those of the automobile and IT sectors, highlighting the industry’s economic significance. Sector to Add 50,000-60,000 Rooms in Next Five Years The President announced that the hospitality sector is set to expand significantly, with plans to add between 50,000 and 60,000 new hotel rooms over the next five years. This expansion will further boost employment opportunities and contribute to the country’s economic growth. FHRAI Submits Ease of Doing Business Report To address the challenges faced by the industry, FHRAI has submitted a comprehensive report on the ease of doing business in hospitality to the government. The report focuses on critical areas for reform, including simplifying regulatory compliance, reducing licensing burdens, …

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Focus is on members, that’s our priority, addressing their challenges and engaging them comprehensively: Sunil Kumar

Newly elected TAAI President Sunil Kumar has said that the focus of the new team will be on members. “TAAI’s goodwill and its strength lies in its members. Members First is our mission. We aim to address their challenges, learning from their concerns, engaging them much more comprehensively in the overall design and administration of TAAI, through various means like member networking opportunities,” he said.

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Jimmy Shaw Named HRAWI President

Jimmy Shaw, Managing Director, The Waterfront Shaw, Lavasa has been elected the new President of The Hotel and Restaurant Association Western India (HRAWI). The appointment took place during the 74th Annual General Meeting (AGM) held in Mumbai on 21st September, 2024, where new Office Bearers for the 2024-25 term were also appointed. In his new role, Shaw will continue to lead HRAWI’s efforts in spearheading various campaigns that cover critical facets of the hospitality industry, including food safety, regulatory advocacy, talent retention and development and sustainability. A third-generation hotelier, Shaw also serves as Director of Bona Sera Hotels and Shaw Hotels & Consultancy Services. In addition to his hospitality ventures, he is also the Managing Director of ShawMan Software and Director at IDS NEXT Business Solutions. Known for his advocacy within the industry, Shaw previously held the position of Honorary Secretary of HRAWI. “HRAWI has made significant progress, crossing many important milestones in recent years. The past committee’s leadership worked tirelessly to address member concerns and engage with the Government, facilitating swift resolutions where necessary. The Association has been proactive in addressing key challenges, from simplifying GST compliance to tackling issues like cyber-bullying and talent shortages. My goal is to continue this legacy and work in the best interest of our members and the hospitality sector as a whole. I am grateful to the Executive Committee for placing their trust in me and electing me as President,” said Jimmy Shaw, President, HRAWI. Under Jimmy Shaw’s leadership, HRAWI will continue engaging with the Government during the GST Council meetings and Union Budgets, collaborating with the Ministry of Tourism and making legal interventions to address industry-wide concerns. The Association will be particularly …

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