HomeNewsBusinessEconomyRs 650 cr investment expected from private sector in Andaman, Lakshadweep

Rs 650 cr investment expected from private sector in Andaman, Lakshadweep

The issue was discussed at a meeting of the Island Development Agency (IDA), chaired by Home Minister Rajnath Singh. The progress made towards preparation of development plans for identified islands was also reviewed.

April 24, 2018 / 20:32 IST
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An investment of Rs 650 crore is expected from private companies in tourism, MSME and IT sectors in the Andaman and Nicobar Islands, and Lakshadweep, where the Central government has identified 26 islands for development, the Home Ministry said today.

The issue was discussed at a meeting of the Island Development Agency (IDA), chaired by Home Minister Rajnath Singh. The progress made towards preparation of development plans for identified islands was also reviewed.

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After implementation of the development projects, investment of about Rs 650 crore is expected from the private sector, a statement from the ministry said.

Preference for employment would be given to local people and an investors' conference would be held in May.