KARNATAKA SIGNS 37 MoUs IN TOURISM SECTOR

Advantage Karnataka: Global Investors Meet 2010" welcomes Rs. 2150 Crore investments in Tourism sector Bangalore, June 3rd, 2010 -

The Tourism session Advantage Karnataka: Global Investors Meet 2010, organised by the Govt. of Karnataka, was inaugurated today by Shri G. Janardhana Reddy Honorable Minister for Tourism and Infrastructure Development, Government of Karnataka. Presiding the session was Shri Govind M. Karjol, Honorable Minister of Planning, statistics and Minor Irrigation, Government of Karnataka, while prominent speakers at the session included Shri Sajan Poovayya, Chairman, FICCI Karnataka State Council and Advocate India, Solicitor England & Wales, Poovayya & Co; Shri K Jothiramalingam, Principal Secretatry Tourism, Government of Karnataka and Shri Tushar Pandey, Executive Vice President & Country Head, Yes Bank. The state has received investments of Rs. 2150 Crore in the Tourism sector. 37 MoUs were signed at the end of the session. Some of the prominent investors included City View Properties with an investment plan of Rs. 1971 Crore and Trishul Developers project of Rs. 117 Crore. The Global Investors Meet 2010 (GIM 2010) hosted by the Government of Karnataka saw an overwhelming response of 5000 delegates from all over the world. Advantage Karnataka the Knowledge Hub of Asia has attracted over Rs 3.5 Lakh Crore of investment spread across all key sectors and regions of the state and witnessed the signing of over 400 MoUs during the two day session. Inaugurating the session, Shri G. Janardhana Reddy Honourable Minister for Tourism and Infrastructure Development, Government of Karnataka said, The State Government is now set to promote the tourism sector in a phenomenal way. The new Tourism Policy 2009-2014 has a clear vision for the state to make tourism the principal and largest economic activity as an employer, revenue generator and engine of growth. Karnataka aims to be amongst the top two tourism destinations in the country by 2016-17. Karnataka is one of the top 4 popular states in the country for tourism. The state is home to 507 centrally protected monuments, two UNESCO world heritage sites and its waterfalls are ranked amongst the top 50 in the world. Tourism in Karnataka is seeing a rapid and widespread growth. To further boost the growth in the sector, there is a strong and wide base of skilled

man power available both in the tourism and hospitality sector. Karnataka has the largest number of institutes in hotel management and catering technology in the country. Presiding the session, Shri Govind M. Karjol, Honorable Minister of Planning, Statistics and Minor Irrigation, Govt. of Karnataka said, The state government has unveiled the new tourism policy 2009-14 designed to rake in investments worth Rs. 25,000/- crore in tourism. The tourism department has adopted a public-private partnership model to bring in massive investment into destination creation projects. The Master plan released by the tourism ministry envisages the creation of 2,00,000 jobs in the next five years and the development of Heritage Sites. The Business session saw a delegate line-up of prominent dignitaries like Shri. K Viswanatha Reddy, Director Tourism, Government of Karnataka; Shri. Vinay Luthra, MD, Karnataka State Transport Development Corporation, Shri. N D Tiwari, Managing Director, Jungle Lodges and Resorts Ltd.; Shri. Ajay Bakaya, Executive Director, Sarovar Hotels & Resorts; Dr. Issac Mathai, Chairman, Managing & Medical Director, International Holistic Health Centre; Shri. P K Mohankumar, Member Tourism Expert Committee, BCIC & Chief Operating Officer - Gateway Brand, Taj Hotels, Resorts and Palaces; Shri. Cherian Ramapuram, President, Karnataka Tourism Forum & Director, Orange County Resorts & Hotel Ltd. and Shri. Chander K. Baljee, Chairman & Managing Director, Royal Orchids Hotels Ltd. The Business session discussed various topics like investment opportunities & projects in Tourism, Eco & Adventure tourism, Wellness Tourism, Integrated tourism, concluding with the Karnatakas success story in tourism, so far. The highlights of the session include:

Approx 2000% increase in budget allocation from 15 Crore to 250 Crore, 18 hole golf course of 154 acres has been proposed Karnataka is the pioneer in PPP (Private Public Partnership, Private Private Partnership and Public Public Partnership)

Advantage Karnataka : Global Investors Meet 2010, is a 2 day initiative of the Government of Karnataka on June 3rd 4th, 2010, designed to position the state as the sustainable destination for investments, and aiming at a holistic sector-wise growth across all sections of society. For further details, contact: Karnataka Udyog Mitra