With the Union Budget 2025 approaching, Pushpendra Bansal, COO of Lords Hotels & Resorts, has reiterated the need for transformative reforms in the hospitality sector. Contributing nearly 10% of India’s GDP, the sector remains a significant driver of economic growth, and Bansal emphasizes the importance of granting it the recognition it deserves.

Bansal advocates for the government to issue a Gazette notification granting industry status to the hospitality sector. This step, implemented uniformly across states, would foster infrastructure development, provide incentives for developers, and ease financial burdens on new projects. Such recognition would not only strengthen the industry but also bolster GDP, create employment opportunities, and enhance foreign exchange earnings. 

He also addressed the complexities surrounding GST rates in the hospitality industry, which vary across services. To create a more transparent and business-friendly environment, Bansal suggests introducing a uniform GST rate of 12%. This would simplify taxation, promote ease of doing business, and provide much-needed support to hotels and restaurants nationwide.

By urging these critical changes ahead of the Union Budget 2025, Bansal highlights the potential of the hospitality sector to drive India’s economic growth while improving global competitiveness.