The government claims that investment in the tourism sector will enable the state to become a global tourism destination and develop untapped tourist spots. The government prioritizes the service sector as it projects that it will contribute 40 to 50 percent to the state’s Gross Domestic Product (GDP). The state government has formulated investment strategies in various sectors for the Global Investor Summit, with tourism and hospitality being the key focus.
The government believes that increased investment in the tourism sector will lead to the expansion of the service sector, strengthening the state’s economy. Additionally, the government is actively encouraging investments in ropeways, hotels, resorts, and skiing facilities to attract tourists and create new employment opportunities.
For the summit, the state government has devised investment strategies in different sectors, with tourism and hospitality being the predominant ones.
The government aims to transform Uttarakhand into a global tourism destination through investment in the tourism sector, while also developing new and unexplored tourist destinations.
Char Dham Yatra has already established Uttarakhand as a renowned pilgrimage destination at the global level. This six-month-long pilgrimage season drives the tourism business in the state. Now, the government intends to attract national and international tourists to Uttarakhand through adventurous tourism, Ayurveda, and wellness tourism. Therefore, in the foundational facilities like ropeways, hotels, resorts, and skiing infrastructure are being encouraged.
There is an agreement to open several resorts in the state
As part of the summit, the state government has signed a significant agreement with Mahindra Holidays and Resort India Limited for a 10 billion rupee investment. The company will invest in establishing several resorts across the state, which could potentially create employment for around 1,500 people. This investment by Mahindra Holidays and Resort India Limited is the largest investment in Uttarakhand.
Tourism can get a boost through the introduction of ropeways
Ropeway projects are expected to enhance tourism accessibility. The government plans to connect several tourist destinations through ropeways, allowing tourists from across the country and the world to reach these places easily. The government has entered into agreements worth 20 billion rupees with Poma Group for ropeway projects and 10 billion rupees with Usha Breco for cable car projects.
Investment of 3800 crore rupees in ski resorts and cable car projects
To promote adventure tourism, the government has partnered with Kayan Jet for investments in the ski resort industry. The company is planning to invest 21 billion rupees in Kyan Jet Ski Resort and 17 billion rupees in cable car projects. In addition to the renowned skiing destination of Auli, the company will develop ski resorts in Dayara Bugyal and Munsiyari.
By attracting investments in the tourism sector, the government endeavors to strengthen Uttarakhand’s economy, increase employment opportunities, and establish the state as a global tourism destination.