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Committed and Delivered, More than Rs. 10 Lakh Crore Investment to Empower Future of Rajasthan

03 Sep

Committed and Delivered, More than Rs. 10 Lakh Crore Investment to Empower Future of Rajasthan

With investments totalling more than Rs 10.44 lakh crores lined up ahead of the Invest Rajasthan 2022 summit, Rajasthan is poised to take a significant step towards a new era of industrialization. Following the benefits of land, resources, infrastructure, and state government policies, investment proposals have been received across industries. In order to uphold the tagline of its major investment conference, Committed and Delivered, Rajasthan now seeks to make the investment intentions received a reality.

Addressing the media, during a press conference at Udyog Bhawan, Mrs. Shakuntla Rawat, Minister of Industries and Commerce, Government of Rajasthan said, "The "Invest Rajasthan Summit" will be conducted in Jaipur on October 7 and 8, 2022. Approximately 3000 delegates from diverse sectors and industries will attend and participate in conclaves on Tourism, NRR, MSMEs, Agri business, Start-ups, and future ready sectors. The culmination of investment intentions received in Rajasthan will be commemorated at the summit.

The Invest Rajasthan Summit will be graced by following dignitaries Mr CK Birla (CK Birla Group), Mr Puneet Chhatwal (Indian Hotels Company), Mr Praveer Sinha (Tata Power Company Ltd., Mr Kamal Bali (Volvo Group), Mr Ajay Shriram (DCM Shriram), Vikram Kirloskar (Toyota Kirloskar), Mr Anil Agrawal (Vedanta Group), Mr B Santhanam (Saint Gobain), Mr Sanjiv Puri (ITC), and Mr Graeme MacDonald (JCB).

The other significant officials present at the press conference were RSIC Chairmen Mr. Rajeev Arora, Mr Mahendra Pareek, Commissioner Industries, Mr Om Kasera, Commissioner BIP, Dr Manisha Arora, Additional Commissioner BIP.

"To create awareness about Invest Rajasthan Summit among public at large, the government is organising Invest Rajasthan Quiz starting from 5th September, 2022. The state government is working on a war scale to ground the investment intentions that have been received" stated Mrs. Veenu Gupta, Additional Chief Secretary, Government of Rajasthan

With the vision to provide hassle free clearances, the government has recently given clearance to proposals of Avadda Power, O2 Power SG Pte Ltd., Asahi India Glass Ltd., Okaya Energy Storage, Saint Gobain Glass India Pvt. Ltd., Varun Beverages, Dimension Promoters Pvt. Ltd., Wipro Hydraulics Pvt. Ltd., etc.

The summit has drawn interests from local business owners in addition to a number of investors from India and outside, depicting the existence of an ecosystem for industries of all stature in the state. 4,192 MoUs/LoIs have been received recently during the varied national and international investor meets/interactions held towards culmination to IR. The MoUs/LoIs that were signed include sectors like mining and minerals, agriculture and agro-processing, tourism, textiles, engineering, chemicals and petrochemicals, health and medical, logistics, energy, and handicrafts. 40% of the MoUs/LoIs received have already been implemented or are already in the advanced stage of implementation. Before the Summit, the State Government hopes to have the majority of MoUs and LoIs converted on ground.

The enormous investors' interest demonstrates their faith in the Hon'ble Chief Minister of Rajasthan, Shri. Ashok Gehlot's plans for the state's economic development. The benefits of great human capital, speedy infrastructure development, robust market access, India's largest industrial land bank, and alluring investment incentives are luring investors. Additionally, RIICO has developed more than 390 industrial areas and 120 more industrial areas are in pipeline.

Under the leadership of Chief Minister Shri Ashok Gehlot, the state government has built world-class facilities like One Stop Shop to ensure that investment of above INR 10 Crores receives time-bound clearance. Several policies, such as the Rajasthan Industrial Development Policy (2019), the Rajasthan Solar Energy Policy (2019), the Rajasthan Wind and Hybrid Energy Policy (2019), the Rajasthan Agro-processing, Agro Business and Agri Export Promotion Policy (2019), Handicraft policy, The Rajasthan MSME (Facilitation of Establishment and Operation) Act, 2019, the Rajasthan Tourism Policy (2020), and others, provide support for the various sectors, while Rajasthan Investment Promotion Scheme (RIPS-2019) supports investors in establishing new businesses/expansion of existing businesses in Rajasthan.