Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget, outlining sector-wise allocations with a strong focus on tourism, mobility, and human capital as key growth drivers. Commenting on the budget, Zubin Karkaria, Founder & CEO, VFS Global Group, said “The Union Budget charts a strong roadmap to Vision 2047, positioning tourism, mobility, and human capital as engines of long-term growth. By recognising tourism as a catalyst for jobs, foreign exchange, and regional development, the government is building a more competitive and resilient travel ecosystem. The emphasis on capacity building is encouraging with measures towards infrastructure development, skill enhancement, and institutional support that will help strengthen service quality, destination readiness, and ease of doing business. Initiatives like the National Institute of Hospitality, upskilling of tourist guides, and the National Destination Digital Knowledge Grid will have an enduring impact in the long-term.”
“Sustainable, heritage, and experiential tourism, along with support for medical tourism hubs, will diversify India’s offerings, while reductions in TCS on overseas tour packages and TDS under the Liberalised Remittance Scheme for education will ease financial pressure on Indian travellers and students, boosting global mobility and connectivity.”
He welcomed the emphasis on capacity building through infrastructure development, skill enhancement, and institutional support, noting that initiatives such as the National Institute of Hospitality, up-skilling of tourist guides, and the National Destination Digital Knowledge Grid will strengthen service quality and destination readiness. Support for sustainable, heritage, experiential, and medical tourism is expected to diversify India’s travel offerings, while reductions in TCS on overseas tour packages and TDS under the Liberalised Remittance @abhishekjha157 Scheme for education are set to ease financial pressure on Indian travellers and students, boosting global mobility and connectivity.
FAQs on VFS Global CEO Welcoming the Union Budget
Who is Zubin Karkaria?
Zubin Karkaria is the Founder and CEO of VFS Global, a leading company providing visa and consular services to governments worldwide.
What is VFS Global?
VFS Global is a global outsourcing and technology services provider specializing in visa, passport, and consular solutions.
Why did Zubin Karkaria welcome the Union Budget?
He welcomed the budget for its growth-oriented approach, focus on infrastructure, digitalization, and support for travel and tourism.
How does the Union Budget affect the travel sector?
The budget boosts tourism, infrastructure, and international connectivity, positively impacting travel-related services.
Which budget initiatives benefit VFS Global?
Initiatives related to digital governance, infrastructure investment, skill development, and ease of doing business benefit VFS Global.
What is the link between tourism growth and visa services?
Higher tourism and global mobility increase visa application volumes, supporting service providers like VFS Global.
Does the budget promote technology-driven services?
Yes, it emphasizes digital transformation and technology-led solutions across sectors.
How does VFS Global support global mobility?
VFS Global enables efficient and secure visa processing, facilitating international travel and mobility.
Why is ease of doing business important for global firms?
Simplified regulations and transparent policies encourage investment and operational efficiency.
Why has the Union Budget received positive industry feedback?
Industry leaders view it as a strategic framework for sustainable growth and global integration.