| | OCTOBER 20238According to the Federation of Associations in Indian Tourism & Hospitality (FAITH), the body that represents all travel trade associations, tourism will contribute $3 trillion to the GDP by 2047 through 10 million foreign arrivals, 20 billion domestic tourism visits, and 20 million direct and indirect jobs created in the sector. FAITH chairman Nakul Anand provided this industry estimate on September 27, World Tourism Day, at the tourism ministry's "travel for LIFE" initiative.According to Anand, India is one of the few countries that has made significant strides towards eco-friendly and sustainable tourism. "The launch of the G20 tourism and sustainable development goals dashboard is a tremendous tool for holding the industry accountable and on track to meet its sectoral goals by 2030... "The industry faces a difficult task in striking a balance between economic development and environmental preservation," Anand said.Ajay Bhatt, minister of state for tourism, tourism secretary Vidyavathi, and tourism ministry DG Manisha Saxena attended the 'Travel for LIFE' event."'Travel for Life' is dedicated to the tourism industry, in line with 'Mission Life,' which promotes tourism sustainability." G20 countries, international organisations, and states participated virtually in the global launch. Travel for LIFE will launch a number of initiatives, including a case study competition, a national TFL campaign to clean up tourist sites, and recognition of best practises in sustainable rural tourism, according to FAITH. Padget Electronics, a Dixon Technologies wholly owned subsidiary, announced on September 27 that it had signed an agreement with Xiaomi India to manufacture smartphones and other related products for the Chinese brand."We are delighted and encouraged by the trust they have placed in Dixon for the association," said Atul B. Lall, vice chairman and managing director, in a stock exchange statement. "We believe that this association will leverage our excellence, superior execution track record, and Xiaomi's expertise and leadership in India business ecosystem, and it represents a major milestone in the Indian government's "Make in India" initiative."The manufacturing services provider stated that Xiaomi-branded smartphones will be produced at its facility in Noida, Uttar Pradesh.The development comes after an earlier announcement about exploring manufacturing and exports in May after the two parties met with minister of state for electronics and information technology, Rajeev Chandrasekhar, at his office."They are an ideal strategic partner for us because they share our core values of quality, engineering, prowess, and customer satisfaction." "We are confident that this is just the beginning of a long and fruitful relationship, with enormous potential to further build on shared capabilities to deliver sustainable growth," Lall said in the statement.Dixon shares reached a 52-week high in intraday trade on Wednesday, before closing 3.7percent higher at Rs 5824.20. The announcement came after market close.To be sure, this is not the first time Dixon has collaborated with Xiaomi to develop products. Dixon has been producing televisions for the former smartphone market leader since 2018. The firm also produces smartphones for Motorola and Samsung. TOURISM TO CONTRIBUTE $3 TRILLION TO INDIA'S GDP BY 2047XIAOMI INDIA AND DIXON TECHNOLOGIES SIGN AGREEMENT TO PRODUCE SMARTPHONES LOCALLYIN FOCUSIN FOCUS
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