Foreign Direct Investment (FDI) is allowed for the development
of tourism projects in the country. Hotel and
Tourism sector is declared as high priority sector and FDI upto
100%, under the automatic route is
permitted in ‘Hotels & Tourism Sector’, subject to applicable
laws/regulations, security and other conditionalties.
As
per a report received from the Department of Industrial Policy & Promotion,
the details of the FDI equity flows from April 2008 to January 2012 in the
Hotel and Tourism sector are as follows:
|
Sl. No.
|
Year (April-March)
|
Hotel & Tourism Projects
|
FDI (` in crore)
|
|
1
|
2008-09
|
489
|
2,098.23
|
|
2
|
2009-10
|
582
|
3,566.32
|
|
3
|
2010-11
|
403
|
1,405.15
|
|
4
|
2011-12 (Apr-Jan)
|
427
|
4,041.28
|
|
Grand Total
|
1901
|
11,110.98
|
The
FDI has been allowed with an objective to encourage investments in the hotel
sector in India
and to create job opportunities in hospitality sector.
This
information was given by the
Minister of State for
Tourism Shri Sultan Ahmed in a written
reply to Dr. Janardhan Waghmare
in Rajya Sabha today.
samir/suman