The Federation of Indian Chambers of Commerce and Industry (FICCI), one of the largest and oldest apex business organizations in India, has always promoted the strengthening of travel and tourism ecosystem in India, and has in fact been a front leader in the cause. The organisation understands that with changing times, technology has come into playing a pivotal role in the evolution of travel business. And now, as a part of its mandate to increase the country’s digital drive in the travel and tourism industry, FICCI, has unveiled its maiden initiative “Travel Tech Launchpad” focused at travel startups.
Travel Tech Launchpad will act as a platform that will encourage travel startups to strive for growth and innovation during the second edition of FICCI’s flagship event titled “Digital Travel, Hospitality and Innovation Summit,” which is scheduled to be held on March 22-23 next year in India’s capital, New Delhi.
“FICCI is launching The Travel Tech Launch pad with an objective to encourage entrepreneurship and technology innovation in the field of Travel & Hospitality” said Rahul Chakravarty, Director and Head – Tourism, FICCI in a statement.
Travel Tech Launchpad 2017 is being organized by FICCI in association with Agnitio Consulting LLP, Nucleus Partners, TravHQ Media and Charson Advisory.
FICCI’s Digital Travel, Hospitality and Innovation Summit will provide travel startups in the country an opportunity to learn about the industry right from the industry experts. In addition to this, they will also get to exhibit their business ideas, and display their products and services. The summit can prove to be a great chance for travel startups and entrepreneurs to connect with the right set of ecosystem partners. The summit is expected to see a number of travel startups, hospitality and technology companies from across India and abroad gather under one roof. The summit will also see the presence of some of the leading startup investors like Inventus Capital, Kae Capital, Sequoia, and several other angel/venture capital firms.
The Indian Travel and tourism sector still has a huge unexplored potential. Though it has been on a steady growth path for quite some years now, still the industry needs to keep exploring new technologies and innovations in order to be at par with its foreign contemporaries.
According to data from IBEF, the travel and tourism sector’s direct contribution to India’s GDP is expected to grow by a whopping 7.2% per annum during the ten years period from 2015 to 2025. The tourism sector saw investments worth $42.9bn in the year 2015. This is expected to reach $132.9bn by the year 2025.