India’s travel rush has a clear winner—and it’s not airlines

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Subscribe to enjoy similar stories. Sixty-two crore and counting! The staggering footfall at the Maha Kumbh surpasses the population of several nations, highlighting the unstoppable rise of religious tourism. Social media has been a game-changer, making trip planning seamless, while mobile phones and high-speed internet have made navigating destinations easier than ever.

But beyond technology, there’s also a fundamental shift in mindset—people now prioritise experiences and memories over material wealth. So, how can investors tap into this booming trend? Hotels, airlines, and travel aggregators may seem like obvious choices, but each comes with its own risks—capital-intensive hotels face supply challenges, airlines struggle with high investments, and travel aggregators battle fierce competition. Amid these challenges, one company stands out with a near-monopoly in this space—IRCTC, the undisputed leader in India’s railway tourism and ticketing sector.

Also read: IRCTC stock: Why a monopoly business cannot be a ‘Buy’ at any price IRCTC is the only entity authorised by the Indian Railways to provide online railway tickets, catering services to railways, and packaged drinking water at railway stations and trains in India. Whether you book the ticket yourself or through an agent, IRCTC earns a share. Beyond ticketing, the company has diversified revenue streams.

It has partnered with Swiggy and Zomato, earning commissions on meals delivered to train passengers. In addition to convenience fees, it also generates income from advertising and marketing. IRCTC plays a key role in railway tourism, offering curated packages for pilgrimages, corporate tours, and leisure travel.