Brands
India’s tourism bonanza continues as foreign arrivals hit record high
MUMBAI: India’s tourism sector is roaring back to life, with foreign tourist arrivals surging to nearly 100 million last year—the highest on record. The ministry of tourism announced that 99.5 million foreigners visited India in 2024, up from just 15.3 million during the pandemic-ravaged year of 2021.
The recovery has been spectacular. Foreign exchange earnings from tourism more than quadrupled from Rs 64,000 crore in 2021 to Rs 293,000 crore in 2024. Tourism’s share of GDP has jumped from a measly 1.5 per cent in 2020-21 to 5.2 per cent in 2023-24, making it a significant economic driver.
Americans lead the charge, with 1.8 million visitors in 2024, followed closely by Bangladeshis at 1.75million. The British, Australians and Canadians round up the top five source markets. Notably, Australia saw its visitor numbers soar from just 34,000 in 2021 to over 518,000 in 2024.
The boom has created jobs too. Employment in tourism rose from 68 million positions in 2020-21 to 84.6 million in 2023-24, providing livelihoods for millions across the country.
Union minister for tourism and culture Gajendra Singh Shekhawat shared these figures in parliament, highlighting how India has bounced back from the travel restrictions that decimated global tourism. International tourist arrivals, including non-resident Indians, reached 206 million in 2024.
The numbers suggest India is capitalising on pent-up demand for travel as the world emerges from the pandemic’s shadow. With its rich cultural heritage, diverse landscapes and competitive costs, India appears well-positioned to maintain this momentum.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
