Pvt investment hotels, other tourism-related infra critical: G Kishan Reddy

Private investment, particularly in hotels and other tourism-related infrastructure, is critical, Culture and Tourism Minister G Kishan Reddy said Thursday while asserting that massive investment opportunities exist in the tourism industry for both start-ups and conglomerates.

At a roadshow to raise awareness among stakeholders in the travel and tourism industry about the upcoming first Global Tourism Investors' Summit, he said the government is working in a dedicated manner towards the sustained growth and promotion of tourism in India.

"Considering the plethora of experiences the Indian tourism industry offers, such as wellness tourism, adventure tourism, eco-tourism, rural tourism, spiritual tourism and several others, both the state and Central governments recognise the role that tourism can play in driving economic growth. Therefore, private investment, particularly in hotels and other tourism-related infrastructure, is critical," the minister said.

Reddy said various initiatives were being undertaken to provide both domestic and inbound tourists with the most memorable experiences.

Apart from promoting the summit, the roadshow also provided an opportunity for the Ministry of Tourism to gather feedback from industry stakeholders and address any concerns or questions they had, a statement from the ministry said.

The primary goal of the upcoming Global Tourism Investors' Summit is to highlight India's travel and tourism sector as an "ideal investment destination" and give investors as well as the Central and state governments a unified forum to explore investment opportunities.

The participating states will have the opportunity to showcase strengths and unique offerings in terms of investible ready projects in the states to attract investments for tourism infrastructure.

The summit is also expected to facilitate meaningful discussions and collaborations between the government and the private sector to promote the speedy growth and development of India's tourism industry.

The first Global Tourism Investors' Summit, 2023, is being organized in partnership with Invest India as the investment promotion and facilitation partner, and the Confederation of Indian Industry as the industry partner to provide a common platform for global and domestic players to interact and explore investment opportunities in the Indian travel and hospitality sector.

The summit offers an opportune platform for investors from the G20 countries to explore the Indian tourism industry products among other areas of bilateral/multilateral engagements, the statement said.