BK Modi launches OCI forum to invest in projects in India

Singapore based businessman, Dr B.K. Modi, is spearheading an overseas citizens of India investment platform. The OCI forum is an attempt to encourage overseas Indians to invest in India. "Our first project is to encourage Indian origin hoteliers to invest in Kashmir. We have already had a forum event in Srinagar in June 2019 and reached out to local hoteliers and land owners there for joint projects and developments in the hospitality sector," Dr Modi told ET at the event to launch the forum in Delhi.

The OCI platform had already started talks with local hoteliers and land owners even before the abrogation of Article 370 in Jammu & Kashmir and there is a lot of interest to develop and expand 5-star hotels in the region, Dr Modi said. "We are now planning an event for hoteliers from Kashmir in Bali in October 2019 to carry the talks forward and cement some of the plans."

Dr Modi added that the Indian government should support OCIs to invest in India and play an impactful role in generating foreign direct investment. "Through the OCI investor forum, we're targeting to raise $100 billion over the next five years through investment in areas such as healthcare, wellness, hospitality, technology and real estate," he said.