Karnataka Tourism upbeat on investments during Global Investors Meet

Karnataka Tourism upbeat on investments during Global Investors Meet

"Tourism will be a key sector to be promoted at the Global Investors Meet," he told reporters here.He said many companies had evinced interest in investing in Karnataka, but did not elaborate.

The government would seek investors' interest in 12 mega projects including, a wellness city and film media city, an international convention centre at the Bangalore International Airport, an 18-hole Golf course at Thhannirbhavi and wellness centres to be set up in the state.

Around 3000 acres of land have been identified, both with the state government and private sector, to make it easier and swifter for tourism investors to set up their projects.
An investor and industry-friendly tourism policy had been announced in 2009 providing a comprehensive package of subsidies and incentives, including making available loans at 10 percent interest, VAT exemption for three years, and availability of upto five acres of land for establishing hotels and resorts. A master plan has been formulated to attract Disney-land type of mega projects, Reddy said.

The department has also identified 100 places which lacked in tourism-related facilities especially good hotels. The government would help investors keen in developing these places by facilitating acquisition of five acres of land for setting up the infrastructure, Jothiramalingam, Principal Secretary, Tourism, said.It also proposed to develop four tourism circuits in the state, he said.

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