Maharashtra Tourism Policy: Big Investment Boost for Hotels

Mumbai, Jul 20 (PTI) A section of hotel and restaurant owners on Saturday welcomed the Maharashtra government's Tourism Policy 2024, which is aimed at positioning the state as a premier global tourist destination.

“This progressive framework, aimed at positioning Maharashtra as a premier global tourist destination, is a game-changer for our industry,” the Hotel And Restaurant Association (Western India) - HRAWI said in a statement.

The policy's strategic initiatives and incentives are set to attract significant investments, HRAWI president Pradeep Shetty said.

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 big boost to the state's tourism and hospitality sector, Shetty said.

"We eagerly anticipate its effective implementation within the stated objectives and the Ease of Doing Business framework," Shetty added.

The Maharashtra Cabinet had recently approved a comprehensive tourism policy for 2024, which aims to attract Rs 1,00,000 crore in investment and generate 18 lakh jobs over the next decade.

The policy identifies key areas to boost tourism's contribution to Maharashtra's goal of becoming a USD 1 trillion economy by 2028.

It focuses on developing robust infrastructure and partnering with various stakeholders, including tour operators and MICE (meetings, incentives, conference, events) organisers, to double revenue generation in their respective sectors.

"This progressive 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.

"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," Shetty added.