Barcelona [Spain], July 18 : Madhya Pradesh is actively seeking foreign investment in its tourism sector, with the state's Principal Secretary of Tourism and Culture, and MP Tourism Board MD, Sheo Shekhar Shukla, highlighting the attractive investment policy for any investor from Spain.
He highlighted the state's investment potential, offering concessional land and heavy financial incentives for hospitality and tourism projects.
While addressing, Invest in Madhya Pradesh India Business Forum in Spain, the principal secretary stated that India has an "attractive investment policy where we offer concessional land and also heavy financial incentives for any investor from Spain to establish hospitality and tourism-related activity in Madhya Pradesh."
The Madhya Pradesh's principal secretary revealed lucrative investment opportunities, including 30% returns for investments over EUR10 million, to attract Spanish investors.
Shukla stated, "So, if you are interested in investing more than EUR10 million, you can get 30 per cent of it back... Many ready land parcels and numerous opportunities, including those under public-private partnerships, are available."
"Some of these big brands already have a heavy presence in Madhya Pradesh, and more are in the pipeline. We also offer incentives for establishing wellness and mindful tourism initiatives in the state," he added.
MP CM Mohan Yadav, who is currently in Spain, attended the 'Invest In Madhya Pradesh Programme' along with Sanjay Dubey, Sheo Shekhar Shukla, and Raghwendra Kumar Singh.
Madhya Pradesh is also emerging as a hub for film tourism, with the state offering incentives for filmmaking projects. Shukla mentioned, "Madhya Pradesh is rapidly emerging as a hub of film tourism in the country... We have a plethora of incentives to offer, apart from the ease of obtaining filming permissions."
"For international projects, we offer 10 per cent of the project's cost, up to Euro 1 million, in addition to the central government's incentive of 30 per cent up to Euro 3 million," he added.
This means that investors can receive significant returns on their investments. Shukla explained, "If you invest Euro 10 million in a filmmaking project in Madhya Pradesh, you will receive a return of Euro 4 million."
The state is also promoting responsible tourism, with initiatives aimed at sustainable and inclusive living. Shukla added, "We have forayed into responsible tourism, created comfortable rural homes to stay with the community and to understand the most inclusive and sustainable way of living in India."
The MP CM will be staying in Spain till July 19 as part of his visit.
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