Harnessing INVESTMENT for TOURISM

The Tourism Investors Meet 2016 highlighted the potential areas of development for establishing India as the world’s most preferred travel destination

To provide a robust platform for the investment opportunities of the tourism sector to flourish, the Department of Industrial Policy & Promotion ( DIPP) and Invest India set up an investment desk to focus on creating quality infrastructure and filling the gaps on the supply side to allow tourists to have a fulfilling experience within the country. Vinod Zutshi, Secretary, Ministry of Tourism, Govt. of India, at the second edition of FICCI’s ‘ Tourism Investors Meet 2016’ said that there was a need to develop the core infrastructure of the country which included rail, road, air and waterways. He added that a Task Force was being created by the Ministry of Tourism, Civil Aviation and Railways to improve the connectivity to tourist destinations. Zutshi said that the government was planning to organise ‘ Incredible India Tourism Investors' Summit 2016’ in September to showcase the plethora of investment opportunities in areas of infrastructure development, both from India and the overseas. The forum witnessed the release of FICCI- YES Bank knowledge paper on ‘ Investment in Tourism Infrastructure: Unleashing the Growth Potential’. The paper highlighted the potential areas of development, the recent initiatives of the Government and key recommendations for establishing India as the world’s most preferred travel destination. Nikhil Sahni, Senior President – Government Banking & Strategic Government Advisory, YES BANK Ltd, said that the tourism sector offered ample opportunities for investment and if the status of export industry was accorded to it, the sector could grow phenomenally.

The tourism sector offered ample opportunities for investment and if the status of export industry was accorded to it, the sector could grow phenomenally

According to Rana Kapoor, Managing Director and CEO, YES BANK, “Steps such as improving infrastructure and connectivity, tourist assistance facilities, safety and regulatory framework, as well as ensuring convenient visa, immigration and customs procedures, will be pivotal for leveraging the full potential of this sector. Further, policy reforms for rationalization of land procurement costs and single- window clearance systems will significantly boost investments in the sector.”