Indian hospitality sector has attracted foreign players in a big way with an investment of $2.32 billion in last April. According to reports, the country's hospitality industry, hotel and tourism sector has witnessed a sudden spurt in foreign direct investment (FDI).
In 2012-13, the hospitality industry had received $ 3.25 billion, second only to the services sector in getting FDI. India's FDI increased 24.2 per cent year-on-year to $ 3.95 billion in April-May of the current financial year.
Data from the Department of Industrial Policy and Promotion (DIPP) reveals that the FDI in the hotel and tourism sector in April compares with $ 6.63 billion received during the 13 years ended March 2013. Foreign inflows in the sector did not figure in the DIPP's list of top 10 recipients of FDI prior to September 2012.