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India Pegged To Be More Lucrative and Faster Growing Amusement Industry Than China

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The Amusement & Leisure Industry in India is on the verge of an explosive growth. According to Indian Association of Amusement Parks and Industries(IAAPI), an industrial trade body, Indian Amusement Park Industry is around Rs 4, 000 crore and is estimated to grow by 6 per cent per annum till the year 2010.

In a press note issued in Hyderabad , President Mr. VGP Ravidas said over 150 amusement parks, water parks and snow parks which are operational currently in India are attracting a huge 50 million visitors annually, giving employment to an enormous number of people. And Indian Amusement and Leisure industry is pegged as a more lucrative and faster growing amusement industry than China.

Through the years though there is a healthy growth, but at the same time it is burdened by local entertainment tax ranging from 10 to 25 per cent in various states. Further if any imposition of Central Tax like Service Tax will cripple the whole industry. The industry can absorb either of the taxes and not both, he stated. Further he urged to make amusement industry an integral part of tourism and development in India at the Central Government Level.

The IAAPI is also organising a Amusement and Entertainment Industry IAAP Trade Show 2008 in February 14 to 16 at Mumbai. To participate in the same are 50 exhibitors from countries like USA, UK, Argentina, Belgium, Canada, China, Dubai, Germany, Hong Kong, Italy, Japan, Luxembourg, Singapore, Switzerland, Taiwan, Thailand etc Ravidas informed.

About IAAPI.

IAAPI was established in 1999 to offer a common platform for the united voice and has been providing a suitable platform for its members to present their perspective for overall healthy growth of the indusry.

 

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