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Mahesh

24/03/23 09:35 AM IST

Global Tourism Investors’ Summit

In News
  • Ministry of Tourism organised a roundtable interaction with heads of mission in New Delhi as a run up to first Global Tourism Investor’s Summit.
About GTIS
  • GOI shall be organizing the country's first Global Tourism Investors’ Summit (GTIS) in New Delhi from 17-19 May 2023.
  • 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.
  • GTIS is the right platform for all the tourism & hospitality industries operating outside India to come, witness the huge Indian market, and leverage the available investment opportunities.
  • The objective of GTIS 2023, being organized 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.
  • A web-site www.gtistourism.in has also been developed which will help in taking forward the public-private engagements beyond the event as well.
Tourism in India
  • 100% FDI in the tourism and Hospitality sector is allowed under automatic route. In the last 8 years from 2014-2022, India has received FDI inflows worth USD 9.2 billion in the hotel and tourism sector whereas India had received FDI inflows worth USD 7.2 billion from 2000-2014.
  • States are also actively working on policies and providing incentives and concessions to attract private investments for Homestays, MICE infrastructure, Wellness tourism, Eco tourism etc.
  • In line with the push towards streamlining of approvals, the Ministry of Tourism is integrating with National Single Window System (NSWS) platform and reduce the number of approvals required to setup a new project in Tourism & Hospitality sector.
Source- PIB

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