Indian travel company MakeMyTrip has announced plans to expand its franchise business in more than 100 cities by the end of 2023. The company, which began the year with 146 active franchisees, aims to expand by more than 50% to reach 220 by year end. MakeMyTrip has invested in technology and training to ensure consistent service across all its franchisees, and plans to build travel communities in smaller cities by building a hyper-local marketing connection with its franchisee partners. The company plans to target entrepreneurs who share a passion for travel, with more than 85% of the business partners who have joined the company in the past 12 months coming from a non-travel background.
‘Explanation by MakeMyTrip’s Mohit Kabra on 20% TCS to be levied for Foreign Travel starting July 1st’
From July 1st, foreign travel is set to become more expensive as Tax Collected at Source (TCS) jumps from 5% to 20%. This means that the 20% TCS rule will apply to both foreign packages and credit cards on international transactions. Mohit Kabra, Group CFO at MakeMyTrip, explains that travellers will have to pay an...
