Travel Trade

ITDC celeberates 50th anniversary amidst disinvestment

DELHI: Even as the government is going forward with the disinvestment of India Tourism Development Corporation (ITDC), the corporation is celebrating its 50th year golden jubilee in Delhi with events and festive programmes. The corporation recorded gross revenues of Rs 465 crore in fiscal 2015-16. The net profit came in at Rs 32.42 crore.

At a 50th anniversary event held at The Ashok Hotel New Delhi, Vinod Zutshi, Secretary-Tourism, Government of India, called upon the ITDC family to not be “diffident” about “whatever processes going on”. He asked ITDC to get into more travel and tourism related areas with their 50 years of experience and expertise in the Indian tourism sector.

ITDC was incorporated in 1966 with an initial capital of INR 50 million. Today, its a multi-disciplinary organisation with interests in hotels, catering, travel, engineering and consultancy, light and sound shows, education and training, event management, advertising and publicity. ITDC had 34 hotels across India but now has 16 with 18 being divested since early 2000. Of the 16, it is set to lease out 14 now.

Umang Narula, CMD,  ITDC said that the Corporation had made significant contributions to India’s economy as a foreign exchange earner, employment generator, and creator of employment. He added that the firm had paid back all budgetary support and loans received as equity from the government in 1995-96 and was a debt free corporation.

As part of Golden Jubilee year celebrations, ITDC has announced free entry for Defence personnel and their families to all ITDC operated Light & Sound Shows across the country till March 31, 2017.

Musafir Namah Bureau



Please enter your comment!
Please enter your name here