Key Points
In a resounding call for reform, Puneet Chhatwal, the Managing Director and Chief Executive Officer of the Indian Hotels Company Limited (IHCL), underscored the imperative need for the hospitality sector to be accorded industry status..
Speaking at the inauguration ceremony of Taj Taal Kutir hotel in Kolkata, Chhatwal elucidated the pervasive challenges faced by the sector, particularly the burden of being categorised as a luxury entity, resulting in the imposition of the highest tax rates without commensurate exemptions...
Chhatwal said that the call for industry status extends beyond the confines of IHCL, resonating with the broader spectrum of the hospitality industry..
Chhatwal said the hospitality sector also offers vast employment even to allied businesses such as a milk supplier and thus an industry status is a great thing...
Aligned with the industry's aspirations, prominent lobby bodies such as FICCI and CII have joined the chorus for the industry status.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
