Dec 16 2016 | India Opportunities

Attracting Private Sector Investment to harness Tourism Potential

Dr. Mahesh Sharma, Minister of State for Culture and Tourism has recently informed the upper house in a written reply about the steps taken to harness the tourism potential of the country. The Tourism ministry under its schemes for infrastructure development provides Central Financial Assistance to State Governments/Union Territory (UT) Administrations for tourism projects. The projects under the scheme are identified for development in consultation with the States/UTs and are sanctioned subject to availability of funds, submission of suitable detailed project reports, adherence to scheme guidelines and utilization of funds released earlier.

Ministry of Tourism has organized the Incredible India Tourism Investors’ Summit in New Delhi from the 21st to 23rd September 2016. The aim of the Summit was to attract private sector investment. A total of 86 MoUs were signed by the State Governments of Chhattisgarh, Gujarat, Karnataka, Rajasthan and Uttarakhand. Investible projects from the States and UTs, amounting to approximately Rs 50,000 crore were posed to potential investors.

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