Amusement Park Industry to grow at 6 p c: IAAPI

Hyderabad, Jan 17 (UNI) Indian Amusement Park Industry, worth around Rs 4,000 crore, is estimated to grow by six per cent per annum till 2010, Indian Association of Amusement Parks and Industries (IAAPI) President V G P Ravidas said today.

In a statement here, he said over 150 amusement parks, water parks and snow parks in the country, were attracting a whopping 50 million visitors annually, giving employment to around five lakh people.

Indian Amusement and Leisure industry is pegged as a more lucrative and faster growing amusement industry than the Chinese, he added.

''Though there is a healthy growth through the years, the industry is burdened by local entertainment tax ranging from 10 to 25 per cent in various states. The whole industry may suffer if there is any further imposition of Central Tax like Service Tax. The industry can absorb either of the taxes and not both,'' Mr Ravidas stated.

The IAAPI would organise an Amusement and Entertainment Industry -- IAAP Trade Show 2008 from February 14 to 16 at Mumbai. Around 50 exhibitors from countries like USA, UK, Argentina, Belgium, Canada, China, Dubai, Germany, Hong Kong, Italy, Japan, Luxembourg, Singapore, Switzerland, Taiwan and Thailand are expected to participate in the show, he informed.

UNI VA JJ 1340