Invest in tourism, requests government

Making a pitch in the tourism and hospitality sectors at a precursor event held in Mumbai for the upcoming Global Tourism Summit, the Ministry of Tourism went all out to woo potential investors. Also showcasing there states were Maharashtra, Goa, Madhya Pradesh, Gujarat and the UTs of Dadra Nagar Haveli and Daman Diu.

Hazel Jain

Under the aegis of India’s G20 Presidency, the Ministry of Tourism will organise the country’s first Global Tourism Summit in New Delhi from 10 to 12 April, 2023, where all G20 member countries will be invited to participate. To discuss this event, the ministry is doing a series of events in different parts of the country. An introductory event was also held in Mumbai recently where Consul Generals of various countries, potential investors, travel agents and other tourism stakeholders were invited.

Sharing details of the summit, Prashant Ranjan, Director – IDIP, Swadesh Darshan, Niche Tourism and Administration, Ministry of Tourism, said, “Global Tourism Summit 2023 will be organised to showcase the opportunities of investment and trade to the local players as well as global investors alike. We will be not just focusing on hotels and accommodation, but also cruise tourism, amusement parks and adventure tourism. We have a vision of creating 140 million jobs in tourism, which will lead to inclusive growth – not just of niche tourism, but also of women, youth and the local communities.”

Inviting everyone to share suggestions on how this summit can be made a big success, he added, “I request everyone to invest in tourism so that we can invest in the inclusive growth in this country. Cruise tourism statistics in India are promising – the CAGR of cruise tourism is 25.6 per cent over the last few years. A WTTC report says the cruise tourism in India will explode in the following years. The summit will also focus on wellness and medical value tourism. Moreover, India business travel market is expected to grow three times by 2030.”

Swadeshi Darshan 2.0

Ranjan reveals that the new Infrastructure Development Scheme called Swadeshi Darshan 2.0 has come up this year, which will focus on developing 55 destinations across India. “Here, the theme will be sustainable and responsible tourism. Here we will be focussing on self-employment, youth skilling, private sector investment, and preserving local heritage. This offers a lot of opportunities to the private sector. The assets created out of these projects we are planning to monetise with help of advisors SBI Caps. All these details are available on the website. Investors who are interested can share their queries here and move at a fast pace even for monetisation of assets that are already created by the Central government,” he added.

State government initiatives

In this summit, the ministry will also focus on state government initiatives. “Maharashtra and Rajasthan have industry status and certain states have reduced the number of licences. The western part of the country that includes Maharashtra, Goa and Madhya Pradesh is doing very well in attracting investments. This year being the G20 Presidency of India, we are focusing on all the partner countries, as well as all the countries having global players and key source markers. Here, we request our Middle East friends to have a look at the summit and push investments into India,” Ranjan added.

Tourism is deeply involved with the Line Ministries that cater to the demand of tourism sector, he said. “That is why for this summit, we are partnering with Ministry of Culture, Port, Shipping, Environment, Railways, Road Transport, Civil Aviation, and Housing. We again request you to give us suggestions on which Line Ministries are missing, so we can bring them to this summit. We are in the process of compiling state investment policies on the website so that it can be a one-stop platform for all investors. Please visit the website, go to the query page and give your suggestions. Potential participants will be state governments, global investors, cruise liners, helicopter services, banking, entertainment, we are looking at everyone who has deep pockets and who are willing to spend in tourism. So, please come and be part of the growth story of India,” Ranjan said.

Maha eyes Rs. 40,000 cr projects

Saurabh Vijay, Principal Secretary of Tourism, Government of Maharashtra, who was presenting his state, highlighted that the government is discussing the development of an online application portal to facilitate investment opportunities in the tourism industry of Maharashtra. They have identified various opportunities such as land for amusement parks, aqua tourism, cruise tourism, ecotourism and many other projects. They are also focusing on private investment and partnerships. GoM has identified specific locations and projects such as a mangrove park, an aquarium project etc. Opportunities in MICE tourism and responsible tourism are also being explored.