Even as the travel and tourism industry continues to be one of the worst-affected sectors in India due to the coronavirus pandemic, world economics are gradually opening up and people are looking to move, both for leisure and official purposes.
Shikhar Aggarwal, joint MD of BLS International Services, an online visa application centre, said that there is a lot of pent-up demand as economies are opening up.
“Countries are opening up across the world, there is a lot of pent-up demand, there is revenge tourism, Aggarwal told CNBC-TV18 in an interview. He said that the company hopeful of achieving healthy numbers and expects to surpass last year's visa application volume.
Aggarwal explained that value-added services contribute around 20-25 percent to the overall revenue. They expect this revenue to improve this year as more people are opting for biometric services at home given the social distancing norms in place due to the COVID-19 pandemic.
On receivables, he said, “From the Punjab government, at one point in time, we had more than Rs 300 crore outstanding. Now we have received most of the money, only Rs 67 crore is pending and we will be getting that money as well in the next few quarters.”
For the entire management interview, watch the video