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Massive Investment Opportunities for both Start-ups and Conglomerates in the Tourism Industry: Shri G. Kishan Reddy

Massive Investment Opportunities for both Start-ups and Conglomerates in the Tourism Industry: Shri G. Kishan Reddy

Ministry of Tourism, Government of India organised Roadshows at New Delhi and Mumbai on 26th and 27th April with the objective of raising awareness among stakeholders in the Travel and Tourism Industry about the forthcoming 1st Global Tourism Investors’ Summit. The Minister for Tourism, Culture and DoNER, Shri G. Kishan Reddy chaired the two Roadshows along with senior Ministerial officers.

Addressing attendees at the Roadshow, Shri G. Kishan Reddy said, “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 Delhi event saw the presence of eminent industry stakeholders including Mr. Ajay Bakaya, MD of Sarovar Hotels, Mr. Patu Keswani, Chairman and MD of Lemon Tree Hotels, Mr. Deep Kalra, Co-Chairman of CII National Committee, Tourism and Hospitality and Founder & Chairman of MakeMyTrip and Mr. Nakul Anand, Executive Director of ITC Ltd amongst others. They shared their insights on the sector’s overview and its future prospects.

Key dignitaries at the Mumbai Roadshow, held on 27th April, included Shri Saurabh Vijay, Principal Secretary (Tourism), Government of Maharashtra, Shri Hareet Shukla, Secretary (Tourism), Government of Gujarat, Shri Vivek Shrotriya, Additional Managing Director, Madhya Pradesh Tourism Board, Shri Pawan Jain, Joint Director, Department of Tourism, Government of Rajasthan also attended and expressed their views during the event.

Prominent industry leaders including Mr. Vishal Kamat, Co-Chair, CII WR Sub Committee on Tourism and Hospitality, CEO, Kamat Hotels India Limited, Mr. Anuraag Bhatnagar, CEO, The Leela Palaces, Hotels and Resorts, Cdr Nevil Malao, VSM (Retd), Vice President Head – Cruise & Navy Cell, J. M. Baxi & Co., Mr. Dhimant Bakshi, CEO, Imagica, Mr. Santhosh Kutty, CEO – Hotels, Mahindra Hotels and Resorts one to one interaction with Hon`ble Minister of Tourism, Shri G. Kishan Reddy at the Roadshow in Mumbai.

During the Business Seminar, Shri G. Kishan Reddy stated that, inspired by the ambitious vision of Prime Minister, the Government is working dedicatedly towards the sustained growth and promotion of tourism in India in Mission Mode. Various initiatives are being undertaken to provide both domestic and inbound tourists with memorable experiences. In addition to promoting the Global Tourism Investor summit, the roadshow also provided an opportunity for the Ministry of Tourism to gather feedback from the industry stakeholders.

 

The objective of the forthcoming 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 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 (GTIS) 2023 is being organized in partnership with Invest India as the Investment Promotion and Facilitation partner, and Confederation of Indian Industry (CII) as the Industry Partner, with an objective of providing a common platform for global and domestic players to interact and explore investment opportunities in the Indian travel and hospitality sector. The Summit, being organized under the ageis of India`s G 20 Presidency, offers an opportune platform for investors from the G20 countries to explore the Indian tourism industry products among other areas of bilateral/multilateral engagements.

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Ministry of Tourism organises two day Chintan Shivir for promoting “Tourism in Mission Mode”

Ministry of Tourism organises two day Chintan Shivir for promoting “Tourism in Mission Mode”

In order to deliberate, ideate and devise strategies for promoting “Tourism in Mission Mode”, the Ministry of Tourism organized a two-day Chintan Shivir on March 28 and March 29 at New Delhi where all the States, Industry Associations and Industry leaders took part.

The agenda for discussions on the first day was set by Minister of Tourism, Culture and DONER, Shri G. Kishan Reddy. He outlined the vision of the Government to leverage tourism as a vehicle for socio-economic development, job creation and achieving sustainable development goals for the country. He stated that this is the most opportune moment to unveil a shared vision for future of India’s tourism, guiding its course for next 25 years to make India as the most sought-after travel destination in the world when India celebrates 100 years of Independence in 2047. He pointed out the three key pillars of developing tourism in mission mode – active participation of the States, Convergence of Government Programs and Public Private Partnerships. He stated that one major step would be to develop National Strategies and Models for providing guidance to the States in developing their tourism potential. The Ministry has recently formulated National strategies for development of various tourism sectors such as Rural Tourism, Adventure Tourism, MICE Tourism, Ecotourism, Medical Tourism, Sustainable Tourism.

Shri Arvind Singh, Secretary, Ministry of Tourism, Government of India stated that the 02 day Chintan Shivir will provide a platform to all stakeholders to conduct fruitful interactions and share good practices followed across the country and a stage to share unique  ideas involving technological solutions in travel sector, sustainability in tourism and responsible travel with the aim to take the benefits of tourism to the grass root level.

The first day`s agenda of discussions was divided into 6 Sessions deliberating on Incredible India@100 – Shared vision of Central Government, States and Industry, Policy Benchmarking and Ease of Doing Business, Investible Projects and Public Private Partnerships, “Global Best Practices and Capacity Building for Tourism Investments” by UNWTO, Developing MICE Tourism and Wedding Tourism and Innovation and Digitalization and Startups in Tourism Sector. Some of the key speakers were representatives from the industry stakeholders viz. FAITH, India Convention Promotion Bureau (ICPB) as well as from international organizations like World Tourism Organization (UNWTO) and the State Governments. UNWTO discussed the development of a Tourism Investment Strategy (TIS) through the UNWTO framework on Organizational, Attractiveness, and Promotion Strategy which will provide a structured approach to developing a comprehensive investment strategy that takes into account factors such as the local business environment, the potential for growth in the tourism industry, and the availability of financing options.

State of Rajasthan made a comprehensive presentation on granting of industry status to the tourism and hospitality sector along with benefits accrued to the industry from the same.

State Government of Maharashtra and Chhattisgarh showcased the investible projects in order to attract investment in tourism and hospitality sector. Union Territory of Lakshadweep Islands also shared successful case studies of public private partnership. In cognizance of the importance of the MICE sector as well as the Wedding Destination sector, a separate Session was kept on the two niche segments for deliberating on various policies, initiatives and strategies for development of MICE tourism and Wedding tourism in the Country. MICE Tourism brings higher revenue and year-round business for the destination overcoming seasonality. At the same time, MICE needs its own ecosystem before a destination can succeed as MICE destination. Wedding destinations are also fast emerging segment in India.

State of Telangana showcased how MICE tourism in the state of Telangana was being developed and promoted through the dedicated Hyderabad Convention Visitors Bureau.

During the event, the Ministry of Tourism also felicitated the States to recognize the best practices followed by them in six major categories under Swadesh Darshan Scheme.

The Government has recently announced to promote development of Tourism Sector in Mission Mode with active participation of the States and convergence of Government schemes and Public Private Partnership.

As an initiative of India`s G 20 Presidency, the Ministry of Tourism is organizing the 1st Global Tourism Investors’ Summit on May 17-19, 2023. Chintan Shivir will also provide opportunity to deliberate on the strategies and preparations for successful organization of 1st Global Tourism Investors’ Summit.