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Tuesday, 06 September, 2016, 14 : 00 PM [IST]

MoT to place 600 tourism projects across India for Investors at Investors’ Summit

Organisers expect 250 investors at the Investors’ Summit
Ministry of Tourism with the support of stakeholding states has identified 600 tourism projects in the country to be placed before the international and domestic investors at the first Incredible India Tourism Investors’ Summit (IITIS) scheduled in Delhi between September 21 to 23.  These projects, according to Ministry of Tourism, Government of India, will encompass theme parks, adventure tourism, cruise tourism,  coastal tourism projects, hotels and resorts,  etc. 

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 international investors.  Ministry of Tourism has organized road shows in key cities in the US, UAE, China, Hong Kong, Singapore, to invite investors and showcase investment opportunities in India’s tourism sector, he said.  As far as size and volume of investment is concerned, Zutshi said that an estimated Rs 50,000 cr worth of investment opportunities in the sector will be on offer at the summit.

There will be B2B and B2G meetings and signing of MoUs as part of the three-day event, Zutshi said.  There will also be 21 different conferences during the investors meet that is scheduled at Vigyan Bhavan New Delhi.  Besides Plenary sessions, there will be presentations by various states during the meet, he added.  

“There is no better time than now to invest in India’s tourism sector with demand growing at double digits both on the international and the domestic front,” he said.  In order to keep the engagement going with global investors, Ministry of Tourism along with Invest India is setting up a permanent Investment desk at the department, he said.

Suman Billa, Joint Secretary – Tourism, Government of India said that the pace of tourism growth in the country is far higher than the global average  and the size of the tourism market is predicted to grow from the present 148 billion dollars to 419 billion dollars over the next five years.  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.

CII and TFCI are the principal partners for the Summit, with Ernst & Young, KPMG, Yes Bank and Invest India joining in as Knowledge partners.  27 States of India will be exhibiting and participating in the investors meet. 
 
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