Tourism summit kicks off today, govt expects investment worth Rs 50,000 crore

The three-day summit, beginning here on Wednesday, will be inaugurated by Finance Minister Arun Jaitley.

By: Express News Service | New Delhi | Updated: September 21, 2016 5:59 am

The tourism Ministry has organised a global investors’ summit, during which it expects to attract investment worth Rs 50,000 crore for the tourism sector.

The three-day summit, beginning here on Wednesday, will be inaugurated by Finance Minister Arun Jaitley.

Minister of State for Culture Mahesh Sharma and Andhra Pradesh Chief Minister N Chandrababu Naidu will also be present.

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Speaking to reporters on Tuesday, Tourism Secretary Vinod Zutshi said the ministry wants to achieve a “Make in India in the tourism sector”.

Pointing out the gap between demand and supply in the sector, he said that India needed 1.92 lakh hotel rooms apart from enhanced travel infrastructure, catering and other requirements for the growing number of tourists.

The ministry has invited all the states, which will come up with their investment needs and projects.

Four knowledge partners — Ernst & Young, KPMG, Yes Bank and Invest India — will assist the states in identifying projects as per their requirements.

Banks, investors, entertainment companies, hoteliers, infrastructure developers and venture capitalists will also participate in the summit — an initiative of the Tourism Ministry, Tourism Finance Corporation of India and Confederation of Indian Industry.

The ministry has also conducted road shows in the US, UAE, Thailand, Hong Kong, Shanghai, Singapore, Gujarat and Mumbai to attract investors.