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86 MoUs aggregating close to Rs 15,000 crores exchanged in IITIS-2016 & many more are in pipeline

Press Information Bureau:  September 26, 2016

New Delhi: Several announcements were made at the valedictory session of the ‘Incredible India Tourism Investors’ Summit (IITIS)- 2016’ organized by the Ministry of Tourism in partnership with Confederation of Indian Industry and the Tourism Finance Corporation of India from 21st to 23rd September, 2016 to promote investments in Tourism sector in India. These announcements made by Secretary, M/o Tourism Shri Vinod Zutshi, included: 

  • Institutionalisation of IITIS to be held annually with the next Summit to be organized in September 2017; 
  • Setting up of a task force headed by Secretary, Tourism, with membership from relevant ministries, state governments, and industry associations to undertake strategic planning; 
  • Setting up of an investor facilitation desk to handhold investors and facilitate projects; and, 
  • Organising investor meets in States with the support of Ministry of Tourism. 

States like Gujarat, Rajasthan, Karnataka, Uttarakhand,and Chattisgarh exchanged 86 MoUs during the session and many more are in the pipeline, aggregating close to Rs 15,000 crores. IITIS-2016 had met the desired objectives and highlighted tourism investment potential in the country. Gujarat exchanged MoUs close to 9000 crores, Karnataka with 2600 crores, Rajasthan with 1000 crores ,Uttarakhand with 500 crores and Chhattisgarh with 12 crores. Also, B. R. Shetty Group is keen to invest 450 crores and Costa Cruise 750 crores and Triveni Singapore close to 800 crores in the country. 

Dr. Mahesh Sharma, Minister of State (I/C) for Tourism and Culture assured the Investors that his ministry will assist and support investors for making India the tourist destination of choice and for promotion of investment projects in tourism sector. He referred to the tourist helpline in 12 languages and highlighted that a portal is being opened for inviting suggestions. “Let us join hands to give tourists a memorable experience,” he added. 

World Bank is supporting India’s Buddhist Circuit development and will provide support for sustainable tourism development including through funds, said Ms Cecile Fruman, Global Director, Trade and Competitiveness, World Bank. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

x IBEF : India Brand Equity Foundation