Kolkata, Nov 9 (PTI) Confederation of Indian Industry (CII) on Thursday hailed the decision of the West Bengal government to grant industry status to the hospitality sector, saying it will attract investment and boost tourism.
The West Bengal Cabinet on Wednesday approved a proposal to grant industry status to the hospitality sector in a bid to promote employment and attract investment in the sector.
In a statement, CII said that this sector has the potential to draw Rs 5000 crore investment in the next few years and with a job-generating potential of nearly two lakh.
CII through its various forums and interactions had requested the West Bengal government to recognise the hospitality industry as an independent one.
"This move emphatically distinguishes the hospitality sector's role as a vital industry contributing to the state's economy," the statement said.
K Mohanchandran, chairman, CII Eastern Region tourism subcommittee, and senior vice president (East & Northeast), Indian Hotels Company Ltd, said, "This (decision) will benefit the industry by way of more competitive industrial rates for power, water and property tax apart from providing better FAR (floor-area-ratio).
“It will attract investments, and boost tourism, thereby stimulating economic activities and fostering the state's development." Past chairman of CII Eastern Region & managing director, Apeejay Surrendra Park Hotels Limited, Vijay Dewan, termed the state government’s decision as "excellent and progressive”.
“This will significantly help in the growth of the hospitality industry and will bring in more investments in the state. We are committed to the development of our 250-luxury-room hotel in Kolkata for which work will commence in the next financial year," he said.
This recognition comes at a crucial time as the world is recovering from the economic aftermath of the pandemic when the hospitality industry faced unprecedented setbacks, CII said, PTI dc NN