Government aims to raise share of tourism in economy to 10%: Union Minister Shekhawat | Business News

“The expansion in India’s financial system is predicted to double each 8 years. At the moment, the dimensions of our financial system is $4 trillion, and it’s more likely to attain near $32 trillion by 2047. When the financial system reaches round $32 trillion, our dedication is that the contribution of tourism ought to grow to be 10 per cent, which might be equal to the worldwide parameters. That is inevitable,” Shekhawat stated in his tackle at CII YiFi Entrepreneurship Summit 2025.

He stated the tourism sector within the nation goes to witness a compounded annual progress charge of 24 per cent.

The minister stated that each state in India, with its wealthy range and distinctive cultural id, affords different experiences to vacationers from around the globe.

He stated that just about a decade in the past, the most important problem to the event of tourism within the nation was insufficient infrastructure, he stated.

“The Narendra Modi-led authorities has addressed infrastructure in such a way that it has opened a huge horizon for the expansion of tourism in our nation,” Shekhawat stated.

He stated within the final one yr, shut to at least one crore international vacationers have arrived in India. This quantity could look smaller as in comparison with the variety of vacationers visiting international locations similar to Thailand (4 crore), Switzerland (3 crore) and Dubai (2.5 crore), yearly. Nonetheless, in contrast to India, these new vacationer locations have zero potential to draw home vacationers.

He said that in the case of religious tourism, India has no competitors.

The minister additionally emphasised that whereas the sector ought to deal with progress, it needs to be accomplished in a sustainable method.