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Our Bureau

Hyderabad , Jan. 23

THE Indian amusement and theme parks industry has tremendous potential for growth, according to the Indian Association of Amusement Parks and Industries (IAAPI), the apex body representing the new and bubbling industry, which expects to see the establishment of about 500 theme parks by the year 2010.

The President of IAAPI, Mr Balwant Chawla, the Vice-President, Mr Rajen Shah and the General Secretary, Mr V.G.P. Ravidas, said that the industry, which witnessed overall investments of about Rs 3,000 crore, is growing at a hectic pace of about 30 plus per cent per annum.

"If the Government provides the necessary support through some tax sops, we could see faster growth across various parts of the country."

Speaking to newspersons before the association national annual event to be held at the World Trade Centre (WTC) in Mumbai, Mr Chawla and his colleagues said that the income generated from these investments could seem relatively small but there is great potential for related services growth. Given the large manufacturing base and cost advantages that Indian manufacturing companies bring to the amusement industry, India could well play a major role and provide the necessary support infrastructure to the global market.

Mr Chawla said that for every job created in the park, four more are generated in other services. This is something policy makers would have to keep in mind and encourage the growth of the sector.

Currently, some 25,000 persons are directly associated with the industry.

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