Tourism road show in Tokyo on February 18

Japan is looking at investing in India’s hospitality sector. “In the hotel sector 100% FDI is allowed. The Japanese have shown interest in investing in India’s hospitality sector. India needs quality budget accommodation and tourism ministry is encouraging foreign investors who are interested in investing in the segment,” Tourism Minister K Chiranjeevi said after a meeting with Japan’s senior vice minister of Land, Infrastructure, Transport and Tourism Hiroshi Kajiyama.

“Besides FDI, we are also looking at PPP projects to set up more budget hotels in the country. We want to promote Buddhist tourism and attract more inbound tourists from the Asian countries like Vietnam and Cambodia. But there is a shortage of quality budget accommodation and motels in Buddhist sites,” Chiranjeevi added.

Japan and India will soon be signing an MoU to strengthen tourism cooperation between the two nations.  India registered 1,93,525 Japanese tourists in 2011. The Tourism Ministry will be holding road shows in Tokyo on February 18 and on February 20 in Osaka.

Japan International Cooperation Agency extended a loan of 7,331 million Japanese Yen (Rs 299 crore) for development of Ajanta Ellora Conservation and Development Programme. It also extended a loan for the development of Uttar Pradesh Buddhist Circuit Project for 9495 million Japanese Yen (Rs 396.63 crore) . Now hotels in the Buddhist circuit might soon attract Japanese investment.