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Tourism Ministry examining proposal to set up Investment Desk

Union Tourism Ministry is "examining" a proposal from Invest India to set up an Investment Desk at the Tourism Ministry for project monitoring and follow up actions.

By: | New Delhi | Published: September 20, 2016 5:30 PM
Invest India is a not-for-profit joint venture between the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, state governments and industry body Ficci. (PTI) Invest India is a not-for-profit joint venture between the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, state governments and industry body Ficci. (PTI)

Union Tourism Ministry is “examining” a proposal from Invest India to set up an Investment Desk at the Tourism Ministry for project monitoring and follow up actions.

“Invest India has given us an offer to set up an invest desk. We are examining the proposal and looking into the modalities. With the investment desk in place in the Tourism ministry, we will continue not only conceiving various projects and organising meetings (with states and potential investors) but also hand-hold the state and see that things get culminated into actual projects,” Union Tourism Secretary Vinod Zutshi told reporters told here.

He was interacting with media on the eve of the first Incredible India Tourism Investors Summit, which will inaugurated by Finance Minister Arun Jaitley tomorrow.

Invest India is a not-for-profit joint venture between the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, state governments and industry body Ficci.

The three-day first-of-its kind summit, is being organised in association with industry body CII and Tourism Finance Corporation of India. It is expected to attract investments to the tune of over Rs 50,000 crore from around 700 investable projects.

Union Tourism Minister Mahesh Sharma, Civil Aviation Minister Ahok Gajapathi Raju, Chief Ministers and Tourism Ministers of a states will also participate in the mega investors summit.

Besides, the Summit would also see as many as 3,000 B2B (business-to-business) and B2G (business-to-Government) meetings, Zutshi said.

Some 250 investors from across the globe including those from China, Dubai, Hong Kong, Qatar, and Singapore, among others, are expected to discuss various investment proposals during the event.

Zutshi said that the investment desk would have some 4-5 people drawn from the industry and institutes like IIMs and IITs and they will work under the Tourism ministry in consultation with Invest India.

“These people will develop the cell (desk) in a manner that all the project, which are received during the summit, are followed up and taken to logical conclusion. It will be a continuous exercise of generating investable projects on side and looking for domestic and international potential investors on the other side,” he said.

The Tourism Ministry has the mandate to promote India as the tourism destination, he said, adding, ” We are now bringing in yet another objective for our self, which is to make India as the investment destination. It is like Make in India for tourism.”

Zutshi said the ministry has sanctioned projects worth Rs 600 crore for coastal states including Maharashtra, Karnataka, Andhra Pradesh, Kerala and Puducherry to develop various beaches.

“There are beaches as a natural product. We are making them alive. We are developing various facilities such as restaurants, change rooms, washrooms, among others for tourists all along the beach. This is how we are triggering the industry,” he said.

He said the plan is to develop over 30 beaches across the 7,000 km long coastal line of the country.

also said cruise passenger facilitation terminal at Chennai was expected to be operational by the end of next month.

“The new passenger terminal at Chennai will also start operations from end of October. That is going to handle a large number of passenger ships.

We have also offered to set up a domestic passenger terminal in Visakhapatnam also. Besides, a new dedicated passenger terminal at Sagarmala Mumbai will also be developed,” he said.

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