Singapore beckons

Jamshedpur, Jan. 8: Several leading multinational companies are now setting up shop in the state for they know that the market is ready to be tapped.

The reason behind this phenomenon is an increased earning power of people and the desire to travel abroad. “Jharkhand is an upcoming market and also has tremendous potential. We have, therefore, decided to strengthen our base in the state,” said Sunil Gupta, chief operating officer of SOTC from Mumbai.

“We are planning to convert our preferred self agents (PSAs) in Jharkhand into SOTC Holiday Shops that will be known as SOTC Holiday World,” added Gupta. The “Holiday World” branding seeks to create awareness about SOTC as the pioneer in not just group packages, but also in free individual travel, special interest tours and domestic travel. This move would be at par with SOTC owned outlets throughout the country and this would be the first time the company would make an independent foray into the market.

Prior to this, these multinationals operated through certain specified local agencies. To begin with, the first two SOTC Holiday Shops would come up in Ranchi and Jharkhand by mid 2007.

Another leading multinational company, Cox and Kings, too, has shown keen interest. “We are looking forward to investing in the state. Initially, we would begin our operations in coordination with some local agencies, who would be responsible for setting up our franchises in the state,”said Thomas C, Thottathil, head, corporate communications, Cox and Kings.

Behind this move is a detailed survey, indicating market opportunities in the state. SOTC conducted a survey for 2004, 2005 and 2006 for Jharkhand and found it viable enough to invest in the state at this point of time, said Gupta.

However, local players are sceptical about their growth in a state like Jharkhand. “They cannot operate individually initially. They have to work with the local agencies. People here are used to customised packages, so the companies have to design economical tour deals,” said Anjani Nidhi, manager, Eastern Travels.