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Chairman's Speech (Country Club Hospitality & Holidays) Year : Mar '12
Dear Shareholder''s
 
 India''s travel and tourism industry is one of the most profitable
 industries in the country, and also credited with contributing a
 substantial amount of foreign exchange.  Indian tourism offers a
 potpourri of different cultures, traditions, festivals, and places of
 interest.
 
 Growth trends
 
 The tourism and hospitality sector''s direct contribution to the GDP in
 2011 was estimated at US$ 32.7 billion. It registered a compound
 annual growth rate (CAGR) of 13 per cent during 2006-11.  Total
 contribution increased to US$ 76.7 billion in 2011 from US$ 56.3
 billion in 2009. The total contribution comprises direct, indirect and
 induced contribution to the GDP.
 
 Foreign Tourist Arrivals (FTAs) during the Month of April 2012 was
 452,000 as compared to FTAs of 438,000 during the month of April 2011.
 
 Indian medical tourism is a sunrise sector valued at more than US$
 31 0 million. Currently, India receives more than 1 00,000 foreign
 patients a year. The number of medical tourists is anticipated to grow
 at a CAGR of over 19 per cent during the forecast period to reach 1.3
 million by 201 3.
 
 Foreign Direct Investment
 
 Foreign direct investment (FDI) of up to 1 00 per cent is permissible
 in the sector through the automatic route. The term hotels include
 restaurants, beach resorts, and other tourist complexes providing
 accommodation and/or catering and food facilities to tourists. Tourism
 related industry include travel agencies, tour operating agencies and
 tourist
 
 transport operating agencies, units providing facilities for cultural,
 adventure and wild life experience to tourists, surface, air and water
 transport facilities to tourists, leisure, entertainment, amusement,
 sports, and health units for tourists and convention/seminar units and
 organizations.
 
 According to data released by the Department of Industrial Policy and
 Promotion (DIPP), the hotel and tourism sector has attracted FDI worth
 Rs14,770.58 crore (US$ 2.64 billion) between April 2000 and January
 2012.
 
 Government initiatives
 
 The Ministry of Tourism functions as the nodal agency for the
 development of tourism in the country. It plays a crucial role in
 coordinating and supplementing the efforts of the State/Union Territory
 Governments, catalyzing private investment, strengthening promotional
 and marketing efforts and in providing trained manpower resources.
 
 Augmentation of quality tourism infrastructure throughout the country
 is a key area of functioning of the Ministry. More than 50 per cent of
 the Ministry''s expenditure on Plan schemes is incurred for development
 of quality tourism infrastructure at various tourist destinations and
 circuits in the States/ Union Territories (UTs).
 
 Some of the major initiatives taken by the
 
 Government of India to promote tourism and
 
 hospitality sector in the country are:
 
 - Gujarat has allocated Rs400 crore (US$ 71.6 million) for tourism
 promotion in the State during the current fiscal. The amount includes
 Rs120 crore (US$ 21.49 million) as grant which has been approved by the
 Planning Commission for 2012-13.
 
 - The Andhra Pradesh Tourism Development Corporation (APTDC) is
 investing Rs300 crore (US$ 53.72 million) to implement nine hotel
 projects and develop new facilities, including three eco-tourism sites.
 
 - In an endea vour to give a stimulus to the ''Incredible India1
 campaign and cinema as a sub- brand of Incredible India, at various
 international film festivals abroad, the Ministry of Information and
 Broadcasting (l&B) and Ministry of Tourism have signed a memorandum of
 understanding (MoU) to provide support for film tourism.
 
 - It is proposed to promote places of tourist interest under the
 control of the Central Agencies. The developmental work under this
 Scheme taken up by the Central Agencies should follow prescribed norms
 and the monuments/structure should be restored to its original
 form/condition.
 
 - State Tourism Development Corporations are entrusted with
 responsibility of formulating and implementing Rural Tourism Projects
 in consultation with District Collectors/Deputy Commissioners to ensure
 convergence from other yojnas, schemes and allocations for
 broader/integrated development at the site to benefit local
 communities.
 
 - The Department of Tourism will provide financial assistance to
 State Governments / UT Administrations for organising fairs / festivals
 and tourism related events such as seminars, conclaves, conventions
 etc. for the promotion of tourism.
 
 Road ahead
 
 The Indian tourism industry has been upswing for last few years
 partially due to an excellent ''Incredible India'' campaign and is
 expected to rise up to US$ 431.7 billion by the end of 2020.
 
 The presence of world-class hospitals and skilled medical professionals
 make India a preferred destination for medical tourism. The segment
 could earn India US$ 2.2 billion per year by 2012. Tour operators are 
 teaming up with hospitals to tap this market.
 
 Cruise shipping is one of the most dynamic and fastest growing
 components of the global leisure industry. India with a vast and
 beautiful coastline, virgin forests, and undisturbed idyllic islands
 can be a fabulous tourist destination for cruise tourists.
 
 India has the potential to develop the rural tourism industry as most
 of its population resides in rural areas. This can benefit the local
 community economically and socially, and enable interaction between
 tourists and locals for a mutually enriching experience.
 
 Signed
 
 Y Rajeev Reddy
 
 CMD
Source : Dion Global Solutions Limited
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