The third day of the FHRAI Hospitality Awards Convention saw some of the most influential voices in the tourism and hospitality sectors address key issues related to India's growth story. Mr. Suman Billa, Additional Secretary, Ministry of Tourism, Government of India, delivered a compelling speech, shedding light on the transformative growth anticipated in the industry.
Mr. Billa underscored the significant investment needs for India’s tourism sector, which is expected to reach a market size of ₹2 million crore by 2029. He said, "India is on a long-term growth cycle, but to maintain this momentum, we require an additional investment of ₹6.5 million crore. We have already identified the need for ₹8,72,000 crore in investment to meet our ambitious goals."
He emphasised the importance of reforming capital structures, especially by shifting hotels from the real estate lending list to the infrastructure list. This would enable lower interest rates on debt and longer repayment periods. If the government can create the right conditions for entrepreneurial growth, investments—both domestic and international—will flow into the tourism and hospitality sectors. India's tourism growth story is only just beginning."
The day also featured an inspirational speech by legendary South African cricketer Mr. Jonty Rhodes, who spoke passionately about India's global impact, not only in sports but across industries. "India has transformed from 'Incredible India' to 'Inevitable India.' Everyone wants to be here, and we have seen tremendous growth, particularly in cricket and tourism. It's exciting to see the passion and energy driving this transformation. The FHRAI Convention is playing a key role in highlighting these possibilities and creating a roadmap for growth, making India not just a destination, but an unforgettable experience for visitors across the world." said Rhodes, sharing his experiences with the Mumbai Indians cricket team and their shared journey in India.
One of the highlights of the evening was the presentation of the Hotel Entrepreneur Award to Mrs. Anju Timblo, Managing Director & CEO of Fomento Resorts & Hotels Pvt. Ltd. for her outstanding contributions to the hospitality sector. Mrs. Timblo's leadership and vision have been instrumental in elevating the standards of luxury hospitality in India.
The event concluded with a Vote of Thanks delivered by Mr. Chetan Mehta, Co-Chairman of the FHRAI Convention Organizing Committee, who expressed gratitude to the dignitaries, award recipients, and all participants for making the event a grand success.
As the convention moves forward, it continues to address the critical role of tourism in India's economic growth and the collaborative efforts needed to sustain its momentum.