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Seamless visa processes, better infra to help India attract more foreign tourists: Agoda
Economic Times
·
1m ago
Medial
Agoda CEO Omri Morgenshtern emphasizes the importance of seamless visa processes and improved infrastructure to enhance India’s appeal as a global tourism destination. Currently, out of 18.9 million international arrivals, only 9.5 million were true foreign tourists. Morgenshtern believes that by making visas more accessible and upgrading infrastructure, India can significantly increase its foreign tourist numbers. Additionally, improving air travel options, especially budget segments, is seen as a way to boost tourism further.
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Thailand to waive visas for Taiwan and India to boost tourism
Reuters
·
1y ago
Medial
Thailand will waive visa requirements for arrivals from India and Taiwan from next month to May 2024, in an effort to attract more tourists during the upcoming high season. This move follows the previous scrapping of visa requirements for Chinese tourists, who were the country's top tourism market before the pandemic. Thailand is aiming to welcome around 28 million visitors this year, as the government seeks to boost the travel sector to offset weak exports and stimulate economic growth.
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US on-site openings shrink for techies as IT hits pause button
Economic Times
·
1m ago
Medial
Indian software majors like TCS, Infosys, and Wipro are pausing on-site deputations to the US amidst business uncertainties and tighter immigration policies. Though they cleared workers for foreign assignments, visa processes remain delayed. This pause is influenced by business dynamics, demand slowdown, AI efficiencies, and tighter US visa regulations. Additionally, hiring locals or subcontractors overseas increases costs, prompting firms to temporarily hold such deputations until more clarity from the US government emerges.
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OYO launches its first luxury hotel in Dubai, plans special packages for Indian tourists
YourStory
·
1y ago
Medial
OYO has launched its first luxury hotel in Dubai, called Palette Royal Reflections Hotel and Spa. The move comes as OYO anticipates a significant influx of Indian tourists to Dubai due to the relaxed visa policy. India currently ranks first in terms of visitors to Dubai, and OYO aims to meet the demand for premium accommodations with this initiative. The hotel will offer special packages and services tailored to Indian tourists, including authentic Indian cuisine and traditional hospitality. OYO has over 700 properties in the UAE, with more than 200 in Dubai.
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RBI move to deepen junk debt market to attract private credit funds, foreign investors
VCCircle
·
3m ago
Medial
The Reserve Bank of India's (RBI) new policy permitting the securitisation of stressed loans aims to attract foreign investors and deepen India's junk debt market. This move enables banks to offload bad loans as tradable securities, offering high-yield investment opportunities. Analysts believe this will bring more liquidity and diversity to the market, drawing interest from private credit funds and foreign portfolio investors. However, challenges like pricing, regulatory complexities, and slow recovery processes remain.
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Italian watchdog's AI staff struggle spotlights global challenge
Economic Times
·
1y ago
Medial
The Garante, an Italian watchdog, faced challenges in recruiting AI experts to strengthen its team following the temporary shutdown of ChatGPT. Similar issues are being faced by regulators worldwide, as the demand for AI talent surges. The relatively low pay, long hiring processes, and visa problems hinder their ability to attract top talent. European Union public bodies, which are rolling out significant AI regulation, may encounter similar problems. The United States, in contrast, has demonstrated a willingness to pay more and expedite recruitment processes to hire AI experts. Governments are recognizing the need for AI expertise but face hurdles in securing the necessary talent.
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India, China agree to hold 'functional talks' on trade, eco
Economic Times
·
1m ago
Medial
India and China have agreed to hold talks to address economic and trade issues during the visit of Chinese Vice Foreign Minister Sun Weidong. The discussions will focus on resolving specific concerns, including rare earth metal supply disruptions caused by Chinese export controls. Additionally, both countries aim to expedite the resumption of direct flights, update the Air Services Agreement, and facilitate visa processes and exchanges between media and think tanks to improve bilateral relations.
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NPCI International signs MoU with Greek bank to take UPI to Europe
Economic Times
·
1y ago
Medial
NPCI International Payments (NIPL) has signed a memorandum of understanding with Eurobank, a Greek bank, to process foreign inward remittance from Greece through UPI (Unified Payments Interface). This partnership positions Greece as one of the first European countries to enable seamless remittances to India using UPI rails. The agreement includes fund settlement, reconciliation, and dispute resolution in their respective jurisdictions. This initiative strengthens economic ties between India and Greece through increased remittance flows. Previously, UPI was launched in France, allowing Indian tourists to purchase Eiffel Tower tickets using UPI payments. NPCI has established relationships with several countries, resulting in the acceptance of UPI and RuPay as payment methods.
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India's UPI is now in France. UPI goes global for the first time!
IndianStartupNews
·
1y ago
Medial
The National Payments Corporation of India (NPCI) has launched UPI at the Eiffel Tower in Paris, France. This partnership with French payments leader Lyra allows Indian tourists visiting the iconic landmark to use UPI-powered apps to make seamless transactions. This is a significant step towards promoting digital payments and expanding UPI globally. The service will soon be extended to other merchants in the tourism and retail sectors, benefiting both Indian tourists and merchants in France and Europe.
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India eyes $100 billion annual foreign direct investment in coming years: Ashwini Vaishnaw
Economic Times
·
1y ago
Medial
India aims to attract $100 billion in annual foreign direct investment (FDI) in the next few years, according to the country's IT minister. With a growth rate of 6-8% over the next decade, India's strategy focuses on investment in infrastructure, uplifting the population, boosting manufacturing, and simplifying business processes. Despite concerns over protectionist policies, foreign companies like Apple and Samsung have expanded operations in India. In the first half of the current financial year, India attracted $33 billion in FDI, with a total of $71 billion in the previous financial year. The country expects its economy to grow by 7.3% this year.
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Government mulls better flexibility for strategic foreign investment
VCCircle
·
9m ago
Medial
The Indian government is considering measures to allow strategic foreign investors more flexibility in buying stakes in Indian companies, as offshore investment has reached a five-year low. The government is contemplating the option of allowing foreign investments through a combination of equity and debt, which is currently not permitted. This potential move would further liberalize the nation's capital market and foreign capital flows. The goal is to attract more foreign direct investment into India, which has remained weak in recent years despite a growing economy.
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