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17 iconic sites to boost tourism

17 iconic sites to boost tourism
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Budget offerings for tourism sector

During the budget speech, FM Nirmala Sitharaman announced that the Government will develop 17 iconic sites as world-class tourist centres to improve the flow of domestic and foreign visitors to these destinations. 

Several Industry participants welcomed the move as being beneficial for the industry. The proposed initiatives by the government are expected to draw the attention from international as well as domestic tourists. These destinations will receive a boost and will improve the investment in the travel and tourism industry especially by the millennials who have the spending power.

Further budget’s focus on connectivity in rural and urban places will also boost and help tourism market. These initiatives will also assist the MICE industry which has been growing exponentially over the years and has further scope for record growth.

The Incredible India smallcase consists of companies that have exposure to the travel and tourism industry and stand to gain from India’s rising popularity as a tourist destination.

Brands & India: A love story

A brand is a name or symbol that is easily identifiable as belonging to a company. Branding a product or service allows the company to distinguish it from competitors and clarify what the brand stands for in the market. For example, the Apple brand conveys a sense of luxury and candour. The company always ensures that this message is conveyed, whether one is visiting an Apple store or unpacking the latest iPhone package. 

Confidence regarding the experience, personal or professional image and social acceptance are all reasons that people buy into specific brands. A company that is able to tap into any of these aspects is guaranteed to benefit financially. 

With a population of 1.3 billion and a fast-growing economy, India is expected to be the next global consumption engine. Sales of items like basic consumer goods, automobiles, branded clothes, leisure travel are all expected to surge in the near future. Companies with strong brands will be able to leverage the trend.

The Brand Value smallcase consists of companies that have been able to leverage their brand power into an outstanding financial track record over the years. The smallcase allows investors to hold a brand portfolio and benefit from their growth. The smallcase has surged 62.1% over the past 3 years. 

Markets update

US-India trade war concerns and budget proposals related disappointment pulled down benchmark indices this week. Nifty closed down 2.2% at 11,552.5 and Sensex closed at 38,736.2 down 2.0%.

India’s industrial production increased 3.1% from a year earlier in May 2019, the numbers were slightly below market expectations of a 3.2% rise.

Consumer price inflation rate rose to 3.18% year-on-year in June 2019, the highest since last October. The numbers were slightly below market expectations of 3.2%.

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17 iconic sites to boost tourism
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