Reddy writes to Ratan Tata seeking investments in tourism sector
G Kishan Reddy, Union Minister for Culture, Tourism And Development of North Eastern Region, has written to Ratan Tata and Tata Group, seeking investments in the travel and tourism industry in the Public Private Partnerships (PPP) model, reports Foram Gandhi for The Hindu Busliness Line.
Reddy said private investments in the tourism sector in India beyond hotels are minimal, and efforts are being made to encourage private investors to invest in the sector.
The Tata Group has assured Reddy that it “will thoroughly look into investing within the travel and tourism sector”.
While the Minister did not specify a threshold of investments the Ministry is looking at, he said these “investments would reduce budget constraints from the Ministry”. “Promotion of tourism has been a key focus of the government,” said Reddy, adding that efforts are being made to involve players from across segments, associations and strata. “The Ministry has also been involved in the start-up ecosystem, and has written to the biggest corporates within India,” he explained
(Source: The Hindu Business Line)