Entrepreneurship is the engine that drives any successful industry or economy. In the rapidly evolving hospitality, tourism sector worldwide this is particularly true. Tourism and hospitality, a key sector of the Indian economy, plays important role in the growth of Brand India and accounts for around 12.4 percent of total employment in India. Globally, tourism ranks fifth as an export category after fuels, chemicals, food and automotive products. This sector in India is highly optimistic with a large number of hotel chains having lied up their expansion plans. The renewed sense of optimism comes on the back of a volatile economic environment for most part of 2014 and the sector hopes that initiatives announced by the new government, including those related to e-visas and specific funds for developing tourist circuits, would lead to good business. The policies and changes implemented by the Government of India have been instrumental in providing the necessary boost to the Indian tourism and hospitality industry and attracting more and more foreign tourists every year. This paper develops an understanding of entrepreneurial issues in general and present status of such issues in Indian tourism and hospitality industry. Review of case studies and industry trends showed that entrepreneurship is poised for an exciting period of exploding growth in coming years provided that it deals with the issues professionally. This is expected to lead to substantial investments in supporting infrastructure and innovative and game changing business models.