Tourism in Telangana State has caught the eye of U.S. investors.
The investors, who would reach the city this month for Global Entrepreneurship Summit, would discuss the possibility of investment in Telangana’s tourism projects.
Telangana has seen a 15 per cent jump in tourist footfall from the US in the past three years. Air connectivity to 12 destinations to help increase the footfall will be discussed in detail, said Mr. B. Venkatesham, Secretary, Tourism and Culture.
Earlier in April, a U.S delegation had discussed the possibility of investment with the Department of Tourism.
The delegation had discussed their common interests in wildlife tourism, eco-tourism and Buddhist spritual tourism destinations in the State.
Mr Venkatesham said that the US delegation had expressed keen interest in tourism development in the city.
The same chain of discussions could continue during the global meeting. He, however, added that the interests of private parties should be in line with that of the government for the projects to fructify.
The department had showcased historical monuments including Charminar, Golconda, Qutub Shahi Tombs and Ramappa Temple at the April meeting. Discussions could now lead to other tourism projects including monuments coming up in the suburbs.
Investment incentives
Tourism projects where investment is less than ₹50 crore are eligible for complementary/linkage infrastructure development assistance of 5 per cent of the total project cost or ₹2 crore whichever is lesser, Telangana tourism policy has already detailed out.
The projects are categorised under hotels, resorts, heritage hotels, amusement parks, MICE centres, gold courses, botanical gardens, tourism and hospitality training institutes, wayside amenities and spiritual wellness centres, among others.
As the State has emphasised Public-Private Partnership mode for the projects, Tourism Department will link up other departments for setting up major complementary infrastructure to provide last-mile connectivity. Investments in the PPP projects will be discussed in detail in this month’s deliberations.
Even land allotment details where government will showcase its policy on long lease for eligible projects will be discussed . The lease for such projects could be up to a maximum of 33 years at the first instance.
Development assistance as per the policy is expected to be 7.5 per cent in respect of projects with investment between ₹ 50 crore and ₹ 100 crore and 15 per cent when it comes to projects costing between ₹ 100 crore and ₹ 200 crore.
The government is also expected to get the assistance of Centre in developing infrastructure for State tourism projects.
