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Ministry of Tourism launches investors' summit to fund state projects

Economic Times:  September 21, 2016

New Delhi: Ministry of Tourism is organising the first ever Incredible India Tourism Investors' Summit from 21st to 23rd September in New Delhi to bring together state governments and global and domestic investors together for funding investment ready projects in various states and union territories of India.
The summit is being organised in association with industry body CII and Tourism Finance Corporation of India. Vinod Zutshi, secretary, ministry of tourism said the ministry of tourism is acting as a facilitator for the summit which will be an annual feature and has identified over 700 projects requiring investments. Zutshi said the size of investments for all the projects, if realised, could hover around Rs 50,000 crore.

Zutshi said the potential investors have seen the list of projects and the event will also witness the signing up of MoUs between different state projects and their investors. Hospitality is the key focus area for attracting investments, he added.

CII stated the summit will provide an ideal platform for investors interested in tourism products, wherein Indian states/ union territories shall present their respective investor-ready products encompassing hospitality, wellness, roadways, infrastructure, airports, luxury and lifestyle, cruises and civic amenities among others.

Zutshi said the ministry is also planning to set up an investment desk in a bid to attract investors over time.

The event will include participation from 29 Indian states with ready investable projects, banks and financial institutions, business developers, domestic and global investors, hoteliers, infrastructure developers, restaurateurs, venture capitalists, entertainment companies and civic amenity providers. About 250 investors have registered for the summit including global investors from Abu Dhabi, Canada,US, UK, Singapore and Dubai. Taj Hotels and Resorts, Carlson Rezidor, Bird Group, Samhi Hotels, OYO, Stay Zilla, and Airbnb India are the other summit participants.

The event will include exhibitions, seminars and business to business and business to government meetings. KPMG, Yes BankBSE 1.31 %, Tourism Finance Corporation of India, and HVS are the knowledge partners for the summit.

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