Govt approves new liberalised visa policy to attract foreigners, boost trade
The Union Cabinet, chaired by Prime Minister Narendra Modi, also decided to extend the e-Tourists Visa to eight more countries, taking the total number of countries which are under cover the scheme to 158.
Aiming to attract more tourists and boost trade, government today approved a new liberalised visa policy that include long-term multiple-entry comprehensive visa by merging tourist, business, medical and conference visas into one.
The Union Cabinet, chaired by Prime Minister Narendra Modi, also decided to extend the e-Tourists Visa to eight more countries, taking the total number of countries which are under cover the scheme to 158.
The Union Cabinet has given its approval for liberalisation, simplification and rationalisation of the existing visa regime in India and incremental changes in the visa policy decided by the Ministry of Home Affairs in consultation with various stakeholders, an official statement said.
The approval will facilitate entry of foreigners for tourism, business and medical purposes. This is expected to stimulate economic growth, increase earnings from export of services like tourism, medical value travel and travel on account of business and to make 'Skill India', 'Digital India', 'Make in India' and other such flagship initiatives of the government successful.
This will also considerably ease the travel of foreigners to India for the above-mentioned legitimate purposes, the release said.
Tourists, businessmen or people coming for treatment or to attend conferences or even for film shoots will be covered under the new category of visa, which was first mooted by the Commerce Ministry following a suggestion by the Prime Minister's Office (PMO) to boost services trade.
The long-term, multiple-entry visa will be given upto 10 years but under this category the visitor will not be allowed to work or stay permanently, a government official said.
Except those covered under 10 year travel and trade visa policy, citizens of other countries would be offered five year multiple visa for travel and trade.
As per the proposal, if a foreigner is granted long-term, multiple-entry non-working or non-permanent stay visa and his or her stay is restricted to 60 days on a visit, the government may waive the visa fee as well.
However, the visitors have to give biometric details and fulfil certain security obligations, the official said.
The plan is part of the Commerce Ministry's initiatives to boost India's services trade.
India is said to be missing out on a huge opportunity worth about $80 billion annually in terms of attracting foreigners and foreign exchange.
Medical tourism in India alone is estimated at $3 billion and projected to grow to $7-8 billion by 2020.
Foreign patients travelling to India for medical treatment in 2012, 2013 and 2014 stood at 1,71,021, 2,36,898, and 1,84,298 respectively.
Small countries like Thailand attract millions of people whereas tourists flow in India is far less.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
08:20 PM IST