The report ‘Building public-private synergies for heritage conservation’ provides a strategic overview of how heritage conservation in India can be advanced through integrated public-private models. It advocates for positioning heritage conservation as a developmental priority, linking cultural preservation with community inclusion, resilience, and long-term economic impact. It highlights the critical importance of preserving both tangible and intangible heritage as key drivers of tourism-led economic development, and how integration of conservation with tourism can preserve cultural identity while driving sustainable economic development.

      Building public-private synergies for heritage conservation

      Building public-private synergies for heritage conservation

      India's heritage conservation through public-private partnerships, and its potential for tourism-driven economic growth

      The evolving landscape of heritage management through innovative approaches, emphasizing adaptive reuse, digital preservation, and immersive technologies like AR/VR. It identifies major challenges such as inadequate funding, lack of technical expertise, community disengagement, and proposes inclusive policy design, fiscal incentives, and stakeholder engagement as essential solutions. With India’s growing potential in heritage tourism, the report makes a compelling case for Public-Private Partnerships (PPPs) as a transformative mechanism.


      Key highlights of the report include:

      • Holistic conservation

        Conservation efforts extend beyond physical restoration to include safeguarding traditions, crafts, and cultural narratives. Heritage efforts now include restoration, adaptive reuse, and digital preservation

      • Tourism-conservation link
        Well-maintained sites drive tourism, funding, and awareness for continued conservation. This dynamic fosters cultural awareness and sustainable economic growth
      • India’s heritage capital

        Home to 44 UNESCO sites, 3,600+ ASI monuments, and 14 intangible cultural elements, India holds vast potential to lead globally in heritage tourism

      • Economic contribution

        Heritage tourism forms ~2.5 per cent of tourism GDP; projected to hit USD 57.14B by 2033, driven by spiritual, experiential, and cultural travel

      • Power of PPPs

        Partnerships bring in private capital, innovation, and scale for adaptive reuse. Adaptive reuse models have transformed forts, palaces, and historic buildings into vibrant tourism assets like heritage hotels, museums, and cultural centers

      • Next-gen conservation tools

        Tech like AR/VR and digital archiving make heritage accessible and engaging, while CSR boosts access and engagement

      • UP model in action

        Case study of Uttar Pradesh adaptive re-use of heritage properties through PPP model has given new outlook for Heritage tourism. 44 acres of land shall be revived with approximate 21,000+ jobs creation and multiplier effect on the economy

      • Global learning models

        International case studies rom Japan, UK, Italy, Morocco, and Australia show how digitisation, inclusive governance, value of tech, inclusion, and sustainable funding can advance heritage preservation

      • Scale-up strategy

        Strengthen institutional capacity and clear policies to scale up heritage conservation. Prioritise sustainability, innovation, and community engagement for long-term impact



      The case study from Uttar Pradesh illustrates a successful blend of policy support, investor incentives, and community engagement that shall lead to the revival of historic sites through adaptive reuse. This model not only attracts private capital but also ensures architectural integrity, cultural sensitivity, and long-term economic returns through tourism and job creation. Various Initiatives and the state’s heritage conclaves serve as enablers for investor interest and structured implementation.

      In conclusion, the report positions heritage conservation not just as a cultural imperative but as a strategic investment in India’s development journey. By fostering strong public-private synergies, India can transform its historic assets into living heritage-powering inclusive growth, regional pride, and sustainable tourism for future generations.

      Heritage conservation is evolving into a collaborative mission where policy, purpose, and private innovation converge to transform our rich legacy into a force for the future. It is not just about preserving the past, but about shaping resilient communities, cultural pride, and inclusive growth.

      Nilachal Mishra

      Partner and Head of Government & Public Services (G&PS)

      KPMG in India

      Heritage conservation is no longer just about preserving the past-it’s about creating inclusive futures. By integrating tourism, technology, and community engagement, we’re redefining what it means to protect culture.

      Vivek Agarwal

      Lead Partner, Industrial and Infrastructure Development Advisory, Government and Public Services

      KPMG in India

      The success of PPPs in heritage conservation lies in their ability to blend authenticity with innovation. When private vision meets public purpose, heritage becomes a catalyst for sustainable development.

      Aalap Bansal

      Partner, Co-Lead – Tourism, Sports and Leisure Practice

      KPMG in India

      How can KPMG in India help

      Collaborating for progress, development, citizen empowerment and upliftment

      Providing fillip to Infrastructure and Industrial ecosystem in India

      The economic, social and political environment globally and in India seems to be evolving.

      Key Contact

      Aalap Bansal

      Partner, Co-Lead – Tourism, Sports and Leisure Practice

      KPMG in India


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