Private Sector Investment Policy for Maharashtra Tourism

Project Overview

Project: Private Sector Investment Policy for Maharashtra Tourism
Location: Mumbai
Duration: Jan. 2023 to Jul. 2023
Client: Directorate of Tourism, Government of Maharashtra
Address: Mumbai, Maharashtra, India

Brief Description of the Project

The government of Maharashtra came out with its Tourism Policy in 2016 with the objectives of designating tourism as one of its priority sectors and a catalyst to generate jobs at source and usher socio-economic development of the regions in the State. The Policy targeted to generate one million jobs in the tourism sector and INR 30,000 Crore in investments by 2025. But, since 2021, post pandemic, it has witnessed unprecedented changes in tourist preferences and demands, technological disruptions, expanding tourism supply chain, increasing price competitiveness, staff shortage due to lock-downs, etc. which have transformed the tourism sector. This has forced Government and Industry to review their targets, policy / operating environment, undertake necessary reforms, and collaborate with each other more efficiently. Therefore, Directorate of Tourism, Government of Maharashtra, who is responsible for an overall development of tourism sector in the State, intended to understand the
impact of its Tourism Policy 2016 and carry out necessary modifications with a larger focus on private sector investments. They also wanted to develop a systematic plan for releasing funds to district level authorities for tourism development through specific guidelines.

Services Provided

  1. Review of Maharashtra Tourism Policy 2016 and comparative analysis with various reforms undertaken through the tourism policies by similar States such as Gujarat, Madhya Pradesh, Rajasthan, Tamil Nadu, Odisha, etc.
  2. Extensive consultations with Industry Associations, Private Sector operators and government departments to understand the concerns and assessment of gaps in the policy.
  3. Analysis of financial incentives provided by the State to the industry and assessment of its procedures.
  4. Development of strategies towards identification of Shelf of Investible Tourism Projects / Sites, providing basic infrastructure facilities including barrier free access, Skilled Human Resources & Integrated Supply Chain, Branding, Marketing & Promotion action plan, Strategy towards
    Acceptance and Participation by the community.
  5. In order to attract private sector investments, strategies were laid out towards Private Sector Development Models, the Creation of a Tourism Assistance Fund, Financial Incentives and Institutional Mechanism for its governance.
  6. Estimation of the maximum/minimum range of Financial Incentives that would be provided by the State over the next 5-year period as per proposed terms.
  7. Impact Assessment Strategy and action plan to adopt Tourism Data Analytics techniques.
  8. Presentation and discussion with State officials on draft Policy and its approval.
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