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New Delhi [India], August 4 (ANI): India's <keyword id="21307504" type="General" weightage="100" keywordseo="outbound-tourism" source="keywords">outbound tourism</keyword> market is expected to reach USD 18817.72 million (USD 18.81 billion) in 2024 and grow at a <keyword id="20256055" type="General" weightage="20" keywordseo="CAGR" source="keywords">CAGR</keyword> of 11.4 per cent in the decade between 2024 and 2034 to reach approximately USD 55388.41 million (USD 55.38 billion), highlighted a FICCI-Nangia knowledge paper. The paper titled '<keyword id="22661864" type="General" weightage="20" keywordseo="Navigating-Horizons" source="Orion">Navigating Horizons</keyword>: <keyword id="22661865" type="General" weightage="20" keywordseo="The-Rise-and-Future-of-Indian-Outbound-Tourism" source="Orion">The Rise and Future of Indian Outbound Tourism</keyword>', released during the '3rd Outbound Tourism Summit' here in the FICCI office earlier this week, asserted that few emerging markets and opportunities for outbound <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> include various Southeast Asian, Middle Eastern, African and Eastern European countries. India's online travel market, which consists of sales of travel services through online channels, is expected to grow at a CAGR of 10.5 per cent between 2024-29, from USD 17.24 billion to USD 28.40 billion. International travel has thus been eased by the steady growth in affordable technology, states the paper. It further states that the government administration and the tourism industry stakeholders in India may undertake various strategic interventions to promote the outbound tourism market. These include bilateral engagement; improved connectivity; support to travel industry stakeholders; marketing of international destinations; curated packages; and hospitality partnerships, among others. Speaking at the launch of the report, Mary M Mutuku, Deputy High Commissioner of Kenya to India said that Kenya is not only committed to deepen the relations between India and Kenya but also promoting Kenya as a preferred tourist destination. "Currently, the India market is among the top 5 Kenya's key sources of tourists, and this has the potential to grow even further," she said in her brief address. To attract more <keyword id="110519" type="General" weightage="20" keywordseo="Indian-tourists" source="Orion">Indian tourists</keyword> to Kenya, Mutuku stated that Kenya has put in place the necessary infrastructure to ease travel in the country. "With an increase in the number of flights between the two countries along with the opening of the Nairobi Expressway, tourists will have more convenience traveling in Kenya. A new cruise terminal at Mombasa port is a major boost to cruise tourism. The berth targets to enhance passenger handling capacity as well as allow for an increased volume of cruise ships arrival at the port," she added. Seitenov Darkhan, Deputy Ambassador, Embassy of Kazakhstan to India had said, "We have huge potential for mutual and beneficial cooperation in the tourism sector. There has been significant growth in the number of tourists coming to Kazakhstan from India which is also due to offering 14 days visa-free regime for Indian tourists along with an increase in a number of direct flights." While highlighting the investment potential for Indian industry, Darkhan further said that in order to meet the needs of Indian tourists in Kazakhstan, it would be advisable to consider building a network of Indian hotels and restaurants in the major cities in Kazakhstan. "We invite major Indian investors to participate in implementing these initiatives in our country," he added. Geshan Dissanayake, Minister Commercial, High Commission of Sri Lanka in India said, "The strong shared heritage between India and Lanka forms the bedrock of our bilateral relationship. India alone stands out as a key source market for Sri Lanka. The integration of the Indian UPI payment system with 'LankaPay' has made simplified payment options for Indian tourists visiting Sri Lanka," he added. Dissanayake further stated that to fully realize the potential of outbound tourism there is a need to focus on marketing and promotion of various offerings by Sri Lanka; infrastructure development; promoting sustainable tourism and further streamlining the visa process. Working together, we can unlock the potential of outbound tourism between India and Sri Lanka," he added. Jyotsna Suri, Past President, of FICCI and CMD, The Lalit Suri Hospitality Group stated that any country has to have healthy inbound and outbound tourism. "<keyword id="644076" type="General" weightage="20" keywordseo="Indian-tourism" source="Orion">Indian tourism</keyword> has witnessed a major growth in the last few years and while we are at the threshold of massive growth, we must be cognizant of sustainability as well," she added. Ankush Nijhawan, Chairman, of FICCI Outbound Tourism Committee and Co-Founder, TBO.com and MD, of Nijhawan Group said that the global travel and tourism industry is expected to reach USD 2.6 trillion by 2027, growing at a CAGR of 8.2 per cent. "Traveler preferences are becoming increasingly diverse, and demand tailor-made travel services. Demographic boost, government support, increased connectivity, and niche segment growth are powering India's outbound travel boom," he added. Representatives from the Embassy of Madagascar to India, the Embassy of Georgia to India, the Malaysia Tourism Promotion Board, Singapore Tourism Board also shared their perspectives during the session.

Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

<ul class="summary-list"><li>A US woman was found chained to a tree in Maharashtra, India.</li><li>Lalita Kayi, 50, said her husband had chained her to the tree and left her without food or water.</li></ul>The case of a US woman who was discovered chained to a tree in a rural part of the western <a target="_blank" class="" href="https://www.businessinsider.com/category/india">Indian</a> state of Maharashtra is puzzling investigators.Lalita Kayi, 50, was found last week in the state's Sindhudurg district after her screams were heard by a local, according to local media reports.A cow herder who found Kayi told <a target="_blank" class="" href="https://www.bbc.co.uk/news/articles/c4ngne7g5v3o">BBC Marathi</a> that he had heard screams "coming from the forest on the side of the mountain" as he took his cattle to graze."When I went there, I saw that one of her legs was tied to a tree. She was screaming like an animal. I called other villagers and the local police," he said.Police said the 50-year-old was found with a copy of her passport, an Indian ID card, a cellphone, a tablet, and 31,000 rupees (about $370), per the BBC.<a target="_blank" class="" href="https://indianexpress.com/article/cities/mumbai/us-woman-chained-to-tree-india-decade-ago-to-learn-yoga-9485315/">The Indian Express</a> reported that she also had a medical prescription with her.She appeared emaciated and was reportedly taken to hospital and then on to a psychiatric facility to recover. Doctors said Kayi seemed to be experiencing a mental health condition.Unnamed sources told <a target="_blank" class="" href="https://www.indiatoday.in/india/story/attempted-murder-case-against-husband-of-us-woman-tied-to-tree-in-maharashtra-2574172-2024-07-31">India Today</a> that after her rescue, Kayi provided police with a written statement in which she alleged that her husband had chained her to the tree and left her without food or water."Injection for extreme psychosis which caused a severely locked jaw and inability to drink any water. Need intravenous food. 40 days without food and water. Husband tied me to a tree in the forest and said I would die there," she wrote on a pad.Police said it was unlikely she would have survived for so long, however.Sindhudurg police have since registered a case of attempted murder against Kayi's husband.Details about Kayi's life are scant, and it remains unclear exactly how she ended up in the forest.Police believe Kayi moved to India from the US around a decade ago to study yoga and meditation. She had previously lived in the state of Tamil Nadu in the south of the country, where authorities are now searching for her husband.The Indian Express said that Kayi had recently fallen out with her husband and had been staying in Goa, a small neighboring state on India's southwestern coast.Authorities are reportedly still searching for the husband.A spokesperson for the US embassy in Delhi told the BBC that it would not respond to questions "due to the US Privacy Act."

Indian police launch murder investigation after a US woman was found screaming and chained to a tree in the middle of a forest

The <keyword id="6354457" type="General" weightage="50" keywordseo="national-company-law-tribunal" source="Orion">National Company Law Tribunal</keyword>, Chandigarh bench, has withheld the merger of realty firm <keyword id="252055" type="General" weightage="80" keywordseo="embassy-group" source="Orion">Embassy Group</keyword>'s certain residential and commercial projects with <keyword id="51993" type="General" weightage="50" keywordseo="indiabulls-real-estate" source="Orion">Indiabulls Real Estate</keyword>. Mumbai-based Indiabulls Real Estate (<keyword id="406465" type="General" weightage="80" keywordseo="ibrel" source="Orion">IBREL</keyword>) said it will decide on the next course of action after reading the full judgement and will explore all options, including filing an appeal against the order of the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="100" keywordseo="nclt" source="Orion">NCLT</keyword>) before the appellate tribunal. In August 2020, Bengaluru-based realty firm Embassy Group entered into a definitive agreement to merge its certain residential and commercial projects with IBREL through a cashless scheme of amalgamation. Embassy Group will become the promoter of the merged entity. Through a regulatory filing, IBREL informed that "the sanction to the merger of NAM Estates Pvt Ltd (NAM Estates) and Embassy One Commercial Property Developments Pvt Ltd (Embassy One) into IBREL has been withheld by the National Company Law Tribunal, Chandigarh Bench". IBREL said the merger scheme has already been sanctioned by the NCLT, Bengaluru Bench, which has jurisdiction over NAM Estates and Embassy One, on April 22, 2022. "However, the NCLT, Chandigarh Bench, which has jurisdiction over IBREL, had earlier raised certain concerns based on the objections cited by the Income Tax department to the merger. "IBREL strongly believes that these objections and concerns were unfounded, unjustified and do not impact the merger in a significant manner and had accordingly addressed the same before the NCLT," the company said in the filing. IBREL said it will await the detailed order to further evaluate the next steps and shall explore all options, including filing an appeal against the order of the NCLT, Chandigarh Bench, before the National Company Law Appellate Tribunal (NCLAT) at the earliest. The merger has already received overwhelming support from 99.9987 per cent of its shareholders who voted on the same and has also received approval from other regulators, it added. "IBREL's board shall be meeting over the next day to chalk out its plan and strategy to move forward and shall communicate the same to all its stakeholders," the filing said. In February 2021, the Competition Commission of India (CCI) approved the proposed merger of Embassy Group firms -- NAM Estates Pvt Ltd and Embassy One Commercial Property Developments Pvt Ltd -- with IBREL. At present, Embassy Group has around 14 per cent stake in IBREL and the same will increase to 45 per cent after the merger of assets of these two companies. Post-merger, the combined entity will have 80.8 million square feet of launched and planned development potential. The merged entity will have about 30 projects. Under the terms of the agreement, IBREL's shares are valued at Rs 92.5 per share. IBREL has a land bank of 3,280 acre, near major metropolitan cities. It has a presence in six cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Jodhpur, Vadodara, Vizag and Indore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/end-of-covid-emergency-to-affect-sales-of-diagnostics-cos-globaldata-report/articleshow/100103557.cms">End of Covid emergency to affect sales of diagnostics cos: GlobalData report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/jamtara-global-indian-whatsapp-users-flooded-with-spam-calls/articleshow/100103446.cms">'Jamtara Global': Indian WhatsApp users flooded with spam calls</a>

NCLT withholds merger of Embassy group firms with Indiabulls Real Estate

Mumbai, <keyword id="21027898" type="General" weightage="20" keywordseo="indian-real-estate-investment-trust" source="keywords">Indian Real Estate Investment Trust</keyword> (REIT) industry on Wednesday pitched for the entities to get access to direct bank lending and classification as equities. At present, such vehicles can issue bonds or borrow from non-bank lenders or mutual funds, but are prohibited to borrow from banks, said the <keyword id="21027897" type="General" weightage="20" keywordseo="indian-reits-association" source="keywords">Indian REITs Association</keyword> (IRA), a newly formed umbrella body for the five-year-old sector, which comprises four listed entities. The body's Chairman and Embassy REIT's Chief Executive <keyword id="21027895" type="General" weightage="20" keywordseo="arvind-maiya" source="keywords">Arvind Maiya</keyword> told reporters it is in touch with the RBI (<keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword>) for allowing banks to lend to such vehicles. The real estate industry is asset-heavy and needs funds regularly to buy assets for which it should be allowed to borrow directly from banks, he added. Typically, banks have access to deposits which brings down the cost of funds, and hence, the cost of borrowing can become softer for a borrowing entity. <keyword id="21027894" type="General" weightage="20" keywordseo="alok-aggarwal" source="keywords">Alok Aggarwal</keyword>, the Managing Director and Chief Executive of Brookfield India Real Estate Trust, said, at present REITs are classified as a "hybrid" instrument which creates confusion in the minds of the investors. <keyword id="21027896" type="General" weightage="20" keywordseo="maiya" source="keywords">Maiya</keyword> said classification as equities will lead to passive money coming into REITs as the instrument gets included in indices. Other geographies like Singapore, which has inspired the Indian REIT regulations, as well as the US, treat the instrument as equity, he said, stressing that all the features of the instrument are similar to equity. An industry participant said the tax advantages which it gets courtesy of the hybrid status will continue even if it is classified as equity, while another hoped that it can also get gains from a taxation front courtesy of the Long Term Capital Gains (LTCG) which is applicable for equity. The IRA said there are lots of opportunities for the REITs sector to grow in the country, both from a supply side, where the demand for real estate is bound to keep growing and also on the demand for such instruments as Indians look for newer asset classes. <keyword id="20375329" type="General" weightage="20" keywordseo="ramesh-nair" source="keywords">Ramesh Nair</keyword>, the Chief Executive of Mindspace REIT, said the <keyword id="20069427" type="General" weightage="20" keywordseo="global-capability-centres" source="keywords">Global Capability Centres</keyword> (GCCs) of multinationals alone present a very handsome opportunity for the REITS story in the country. Citing the experience in the US, industry executives said there will be dedicated REITs for specific aspects like warehousing and residential properties. When asked about the lack of demand in the residential space till now -- three Indian REITs are in commercial space while the fourth is in retail -- an industry executive said the yields are very low at 2-3 per cent which prevents REITs' play. Nair said the sector wants to reach out to mutual funds' lobby grouping Amfi to learn and partner with them, given that the REIT's current priority is also to create awareness among the investors.

Real estate investment trust pitch for direct bank lending, classification as equity

Indian tourists do not need a visa for visiting <keyword id="19915592" type="General" weightage="100" keywordseo="iran" source="keywords">Iran</keyword> with a new policy coming into effect from February 4, according to a statement issued by the Embassy of Iran here on Tuesday. "Individuals holding ordinary passports will be allowed to enter Iran without a visa once every six months, with a maximum stay of 15 days," the Embassy said in a statement. It is important to note that the 15-day period cannot be extended, the statement clarified. The visa-free entry applies only to individuals entering Iran for tourism purposes. Indians who visit Iran for business or educational purposes would have to apply for visa under the respective categories. Those who want to visit Iran more than once within the six-month time span will have to obtain a visa. The statement also made it clear that the visa-free entry would be applicable only to those Indian tourists who arrive in Iran by air. Those coming to Iran via the land route through Turkey, Afghanistan, Pakistan or any neighbouring nation would not be allowed to enter without a prior visa. Iran now joins the list of countries like <keyword id="19913659" type="General" weightage="20" keywordseo="thailand" source="keywords">Thailand</keyword>, Malaysia, <keyword id="19931726" type="General" weightage="20" keywordseo="sri-lanka" source="keywords">Sri Lanka</keyword> and Vietnam, which have recently waived visa requirements for Indian visitors.

After Thailand and Sri Lanka, Iran allows Indian tourists entry without visa

<ul class="summary-list"><li>Indians are being duped into joining the Russian military through false employment promises.</li><li>One person said his brother had been promised a job in Dubai but ended up on the front lines in Ukraine.</li></ul>Some Indian nationals are being tricked into fighting for the Russian army after having been promised <a target="_blank" href="https://www.lemonde.fr/international/article/2024/02/29/des-indiens-recrutes-a-leur-insu-dans-l-armee-russe_6219341_3210.html">jobs in Dubai</a>, Le Monde reported.<a target="_blank" href="https://www.telegraph.co.uk/world-news/2024/03/02/india-ukraine-war-uae-job-dubai-fight/#:~:text=At%20least%2020%20Indian%20citizens,forced%20to%20join%20the%20army.">About 20 Indians</a> are thought to have fallen victim to similar schemes and are now caught on the front lines in Russia.One victim, Aazad Yousuf Kumar, 31, a science graduate, traveled from his home in northern India to Dubai in the hopes of working for an employment consultancy named Baba Vlogs, which is run by a man named Faisal Khan.Kumar's mother told The Telegraph that after he arrived in the United Arab Emirates, he was told there were no jobs available and that he would have to go to Russia to do kitchen work.But she said he was then brought to a military base where he was given weapons training."We lost touch with him for a while. When he finally phoned after about twenty days, he told us that he had been tricked and taken to an unknown place in Russia, where he had received weapons training for a fortnight, along with a dozen other Indians," his brother, Sajad Ahmad Kumar, told Le Monde."He was deployed near the front line with the Russian army. I spoke to him on December 26th. He cried constantly. He told me he wanted to come home," he added.Another victim told Indian news outlet <a target="_blank" href="https://www.thehindu.com/news/national/indians-hired-as-russian-army-security-helpers-forced-to-fight-on-ukraine-border/article67868196.ece">The Hindu</a> that at least three Indians had been forced to fight for Russian forces after having been sent there as "army security helpers."He said he had also found the job through Faisal Khan and that they had been "categorically told" that they would not be sent to the battlefield.But after receiving basic weapons training, he said they were sent to <a target="_blank" href="https://www.businessinsider.com/images-wagner-troops-descend-rostov-don-apparent-armed-rebellion-2023-6">Rostov-on-Don</a> and then on to Donetsk, where they then were forced to join the fighting.The man, who said that he had not received any of the money he had been promised for the job, told the outlet that he had been able to escape the conflict area and had been admitted to a hospital for frostbite.He added that he was now struggling to get help from the Indian Embassy in Moscow, saying he had been "turned away several times."A spokesperson for India's Ministry of External Affairs told The Telegraph that the government was working to secure the release of those stuck in Russia."We are trying our best and we are in touch, regular touch with Russian authorities both here in New Delhi and also in Moscow and we are trying to do our best," he said.

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Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

ANI

Indian police launch murder investigation after a US woman was found screaming and chained to a tree in the middle of a forest

Rebecca Rommen

NCLT withholds merger of Embassy group firms with Indiabulls Real Estate

PTI

Real estate investment trust pitch for direct bank lending, classification as equity

PTI

After Thailand and Sri Lanka, Iran allows Indian tourists entry without visa

IANS

An Indian science graduate was promised a job in Dubai but was tricked into fighting for Russia, reports say

Rebecca Rommen

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