Bengal on CG Corp realty map with Rs 2,000 crore investment across housing, hotels

Union tourism minister Gajendra Singh Shekhawat (centre) in Calcutta on Thursday Sourced by the Telegraph

CG Corp Global, a Nepalese conglomerate, will make Bengal the centrepiece of its India foray with an investment of ₹2,000 crore in residential and commercial real estate, hospitality, healthcare, education, among others.

The group is already developing two hotels in partnership with Marriott in North Bengal and looking for a hotel in Darjeeling as part of tea tourism.

"North Bengal will be a key focus area for us. We are looking at multiple residential and commercial projects," said Varun Chaudhary, managing director and CEO of CG Corp Global.

Chaudhary, who was in Calcutta to attend an event organised by the ICC, said the recent political change has spurred enthusiasm, adding that Bengal, especially the northern part, has immense untapped potential. CG Corp Group works with multiple hotel brands, including The Indian Hotels Company Ltd (IHCL).

Other players

Pooja Ray, managing director of Mayfair Hotels & Resorts, who also attended the hospitality event, said the Odisha-based group is looking at multiple properties in Bengal, including one at Shantiniketan.

Puneet Chhatwal, managing director and CEO of IHCL, said the group has reached 42 hotels in operation and under development across eastern and northeastern India, against a target of 50, with at least half of the planned properties expected to be in Bengal.

Tourism policy

The Bengal government is planning a major push for tourism infrastructure under its upcoming land and industrial policy, targeting over ₹2,500 crore in direct investment in the sector, tourism minister Shankar Ghosh said on Thursday.

Union tourism minister Gajendra Singh Shekhawat said tourism currently contributes slightly less than 6 per cent to India's GDP and the government's objective is to raise this to 7 per cent in the next five years and 10 per cent by 2047.