What investment brings in for tourism
As the country ranks number one for foreign direct investment in 2016 and boasts of being one of the fastest growing economies, Vinod Zutshi, Secretary – Tourism, Govt. of India, explains why it’s the right time to invest in tourism and gives details of t
The Incredible India Tourism Investors’ Summit 2016 (IITIS), to be held from Sept 21-23, is the first of its kind organised by the Ministry of Tourism, along with the Confederation of Indian Industry (CII) and Tourism Finance Corporation of India. To be held in New Delhi, the three-day event will gather state governments, global investors, hoteliers, tour and travel operators and the likes, and aims to fuel tourism investments around the country. Agenda
The much-awaited event will be held in the Make in India pattern with the exhibition being held over two days, reveals Zutshi. He adds, “The event will be hosting a lot of notable speakers to talk about India’s potential for investment. The state governments will make presentations encompassing all investible properties and there will also be a session on ‘Why Invest in India’.”
Furthermore, a selective panel will discuss what India means to them, along with a valedictory session titled ‘How to boost investment in the tourism sector.’
In preparation, MOT had organised roadshows in various countries all over the world to sensitise prospective investors and draw them in. Zutshi states, “Tourism’s share in employment in this country, as per our record, is 12.36 per cent, which includes direct and indirect contribution and has contributed 6.3 per cent to India’s GDP in 2015. Foreign Tourist Arrivals (FTAs) have been growing at about 9 per cent this year while domestic tourism growing at 12 per cent. Never has the atmosphere been as positive for investment and we urge interested bodies to make use of the most open economy.” The country also ranks 130 this year for Ease of Doing Business, four places higher than last year. Core infrastructure revamp
Zutshi reveals that MOT is also working hand in hand with other ministries to tackle and develop core infrastructure – road, rail, air and water. To simplify matters, a taskforce of officials will also be formed from road, railways, airlines and MOT to increase connectivity and access between the destinations.
While the new Civil Aviation Policy addresses the need for addition of more airports and the revival of existing ones, Zutshi informs, “We have requested our suggestions to be included regarding the first batch of 50 air strips that will be upgraded.”
Along with the Ministry of Railways, 24 railways stations will be renovated with stateof-the-art facilities along with the addition of a glass coach on one sector that is looking at an Oct-Nov launch. “Five trains that link two important destinations will have tourist coaches which will be jointly funded,” he informs.
With regards to roads, ample work such as the addition of signs on national highways, are in pipeline. “We have created a list of names that National Highway should target for the first instance of projects.”
The state governments will make presentations encompassing all investible properties and there will also be a session on ‘Why Invest in India’