ROLE OF TOURISM INDUSTRY IN INDIA'S ECONOMIC DEVELOPMENT

Tourism is an important catalyst in the socio-economic development of both rural and urban areas since the last two decades, contributing in several ways and strengthens the interconnected processes. Tourism Industry is the most vibrant tertiary activity and a multibillion industry in India. It has emerged as a key factor for sustainable socio-economic development globally Tourism industry has potential to strengthen the inclusive economic development. It is a limitless industry with immense growth potential having clear remarkable positive impact on economic and social aspects of Indian economy. Developing countries like India, tourism has become one of the major sectors of the economy, contributing to a large proportion to GDP and employment opportunities. Tourism is one of the fastest growing service industries in the country with great potentials for its further expansion and diversification. Since the last few years, Indian tourism industry has been growing at a rapid pace and has paved the way for huge potential for generating employment, earning foreign exchange thereby uplifting the economy.