Participants will gather from 27 Indian states, showcasing approximately 600 investable projects across a variety of sectors of the industry. The spending by business and leisure segments is also set to grow three-fold over the next five years, he added, opening opportunities for investment in the sector.
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To change the investment policies across industries in India, which have not always had investor-friendly business models, this summit looks at showcasing the investment ecosystem in the tourism industry and help global investors understand the investment-ready projects in the country.
Shri Vinod Zutshi, Secretary, Ministry of Tourism in his address said that the Tourism landscape in India is undergoing significant transformation, heralding a new paradigm of growth and development in creating employment, generating and ushering entrepreneurship.
He said India has “everything that a country should have to attract tourists” but admitted that a “lot needs to be done” for building world-class tourism infrastructure in the country.
Commenting on whether or not Prime Minister Narendra Modi will be unveiled as the brand ambassador of the tourism campaign-Incredible India, Sharma attributed India’s gradually improving image as a tourist destination to Modi’s global travels. While state governments have framed their tourism policies, the Central government has allowed 100% FDI under the automatic route in tourism and hospitality and in tourism construction projects, including the development of hotels, resorts and recreational facilities. These policies offer attractive investment potential in India’s Tourism Sector.
The upcoming three-day investors summit slated to take place from September 21 to 23 in New Delhi, is expected to fetch investments to the tune of $8 billion through some 600 projects, according to Union Minister of State for Culture and Tourism, Mahesh Sharma.
Speaking at the curtain raiser media conference in Delhi, Vinod Zutshi, Secretary Tourism, Government of India said that the Investors’ Summit is a platform to showcase the “tangible investment ready” projects across India to national and global investors.
2016 will open here on September 21 as a platform for investors across the globe to explore opportunities available in India’s tourism sector as well as core infrastructure areas.
Suman Billa, Joint Secretary, Ministry of Tourism, made a presentation on IITIS during a press meet in New Delhi, where he promised the summit to hold innovative panel discussions on core infrastructure for tourism, sessions on start-ups, digital India, investing in “Swadesh Darshan”, MICE and niche tourism products keeping a special focus on the Northeast and its development.
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The Confederation of Indian Industry and Tourism Finance Corporation of India Ltd are principal partners of this summit.
