India - Incredible Investment Opportunity

Express TravelWorld speaks to various state governments and industry leaders on the measures they have taken up to attract various infrastructure and hospitality investments and how these investments can push India as a top leading travel destination for inbound as well as outbound markets

With 29 states and 4,000 cities, India is home to an incredible diversity of culture and history. These factors contribute to the tremendous potential of the travel and tourism industry of India. Serving as an engine for economic growth, job creation and development, India welcomed over nine million international travellers in 2016 and its domestic demand nearly reached the 100 million mark.

This makes India one of the fastest-growing economies in the world and according to The Travel & Tourism Competitiveness Report 2017, the country is one of the most improved nations, reaching 40th position, compared to its previous 65th rank in 2013. Foreign investors thus see this as a perfect opportunity for various infrastructure and hospitality investments and this in turn promises to boost the tourist arrivals exponentially to India. Various state governments and industry leaders are working together to attract investments that will increase the GDP of the country and push India as a 'must-visit' destination on the global front.

Investment driven efforts

The Make in India programme focuses majorly on tourism and it is crucial to recognise the potential of this sector as an economic multiplier which will move the country at a faster rate and stengthen the image of Brand India. Speaking about the kind of efforts Maharashtra Tourism Development Corporation (MTDC) is making, Vijay Waghmare ,(IAS), managing director, says, “We are focussing on destination development like the coastal and western part of Maharashtra. Heritage forts is another section where we have been focussing on to attract investments as there is a dire need to improve the facilities around forts like Ajanta, Ellora, Elephanta, etc. The Buddhist and Ashtavinayak circuit, along with the religious and wildlife tourism is also gaining weightage in this aspect.”