In a statement, the ministry said, “A Roundtable Interaction with Heads of Missions was chaired by G Kishan Reddy, Minister of Tourism, Culture and DONER.”
New Delhi: The Union Ministry of Tourism will organise the country’s first Global Tourism Investors’ Summit (GTIS) in New Delhi from May 17 to 19, the government said on Thursday. The government will take the initiative under India’s G20 Presidency, the ministry officials added.
In a statement, the ministry said, “A Roundtable Interaction with Heads of Missions was chaired by G Kishan Reddy, Minister of Tourism, Culture and DONER.”
It added, “While addressing the Heads of the Missions at Vigyan Bhawan today (Thursday), Reddy said that guided by the vision of the Prime Minister, tourism development and promotion is being undertaken in mission mode by the government.”
He also said that the current investment landscape of the country makes it an appropriate destination for investment in various sub sectors of the Indian tourism industry such as Hospitality & Lodging, Wellness tourism, Adventure tourism, Eco-Tourism, Rural Tourism and others.
The minister thanked all the participating missions for attending the Roundtable Interaction and invited them to actively participate in the forthcoming Investors Summit and be a part of India`s growth and development in the tourism sector.
Arvind Singh, Secretary, Ministry of Tourism, said, “In order to showcase investible opportunities to investors, till now 25 states have shared 350 plus investable projects with a total investment potential of around Rs 64,000 crore (USD 7.7 billion) with the Ministry of Tourism.”
He added that the GTIS will also have several knowledge sessions focused on topics such as sustainability, digitalization, technology, insights, state-specific issues, and other sub-sectors of tourism. These sessions will facilitate business-to-business (B2B) and business-to-government (B2G) engagements.
K B Kachru, Member, CII National Committee on Tourism and Hospitality said that the GTIS is the right platform for all the tourism and hospitality industries operating outside India to come, witness the huge Indian market and leverage the available investment opportunities.
A total of 42 foreign missions participated in Thursday’s Interaction. The G-20 Presidency will give India’s tourism sector an unparalleled opportunity to highlight India’s tourism offerings and share India’s tourism success stories on a global stage. India’s tourism market is set for a growth trajectory due to improved infrastructure, global connectivity, higher disposable incomes and the development of niche tourism products opening opportunities for foreign investors.
The tourism sector has emerged as one of the fastest growing economic sectors and has a significant impact on trade, job creation, investment, infrastructure development and social inclusion.
The objective of GTIS 2023, being organised in partnership with Invest India as the Investment Promotion and Facilitation partner and Confederation of Indian Industry (CII) as the Industry Partner, is to provide a common platform for interactions between global and domestic players and explore the investment opportunities in the Indian travel and hospitality sector.
