Japan company signs MoU worth ₹7,200 crore to develop hotels in U.P. cities
The Hindu
The Hotel Management International Company Limited plans to expand its chain of luxurious hotels in 30 major cities in the State, including Ayodhya, Agra and Varanasi
Japanese hotel chain Hotel Management International Company Limited (HMI) on Saturday signed a Memorandum of Understanding (MoU) worth ₹7,200 crore with the Uttar Pradesh government.
With the MoU, signed on the second day of the three-day Uttar Pradesh Global Investors’ Summit (GIS)-2023 in Lucknow, the company plans to expand its chain of luxurious hotels in 30 major cities in the State, including Ayodhya, Agra and Varanasi.
Takamoto Yokoyama, Director, Public Relations, HMI Group, described U.P.’s industrial policies as encouraging and said over 10,000 people will receive direct job opportunities through the project.
Talking on the business potential of Varanasi, Mr. Yokoyama added that due to the development of the Shri Kashi Vishwanath Dham Corridor, there has been a significant increase in tourist inflow to the city.
“It will give us a great chance as development of the Shri Kashi Vishwanath Dham Corridor in Varanasi has resulted in a significant increase in tourist inflow,” he said.
Meanwhile, on the second day of the GIS-2023, a session titled “Implementation of Special Strategic and Global Partnership between Japan and India in Uttar Pradesh” was organised at the Dadhichi auditorium here. Advisor (Japan) in the Ministry of External Affairs (MEA), Government of India, Prof. Ashok Chawla, pledged that the Ministry would provide all assistance possible to the State government in maintaining contact with the Japanese business community and Japanese government.
During the session, a comparative analysis of the strategic, economic, political and cultural relations between India and Japan in different periods from 2000 to 2014 and from 2014 to 2022 was done. It was claimed that U.P. exported goods worth $122 million to Japan in 2021, which was about 86% more when compared to 2020.
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