Rajasthan government has so far signed MoU worth Rs 12.5 lakh crore more than two months ahead of the Rising Rajasthan Global Investment Summit. This is already 25% more than the last investment summit – Invest Rajasthan – 2022 (Rs 10 lakh crore) , almost four times than the second edition of Resurgent Rajasthan -2015 (Rs 3.3 lakh crore) and more than seven times the first edition of Resurgent Rajasthan – 2007 (Rs 1.65 lakh crore).
The way investment is pouring in the state, the figure is likely to double by the start of the event.
“In Mumbai where the government had held the first road show, investors had committed Rs 4.5 lakh crore. In Delhi, investors pledged Rs 8 lakh crore majorly from renewable energy sector, cement and logistics,” said a senior industries department official.
A number of high-level investors' meets, and one-on-one business meetings have also been organised in Seoul (South Korea), Tokyo and Osaka in Japan, Dubai and Abu Dhabi in the UAE, Doha (Qatar) and Italy.
“Now similar meetings are scheduled at Singapore, Hyderabad, Munich (Germany) and London among few other cities before the summit finally takes place from 9-11 December, 2024,” the official said.
Political leadership pledges to facilitate businesses
Addressing a gathering of corporate captains, chief minister Bhajan Lal Sharma said that Rajasthan stands at the cusp of a transformative era, embracing a new vision for growth and prosperity.
“The focus of the state government is to not merely to sign MoUs for investment intentions, but to realise them into the projects on the ground,” he said.
Industry and Commerce Minister Col. Rajyavardhan Rathore said that the state government envision a future where Rajasthan not only thrives economically but also sets a benchmark for inclusive and sustainable development.
“Rajasthan is a land of limitless potential, fortified by our robust infrastructure and a proactive government eager to partner with you,” he said.
Bureaucracy welcomes the investors
Speaking about the significance of the investment summit, Sudhansh Pant, Chief Secretary, Government of Rajasthan, said that the summit is a curtain-raiser for the state becoming a 350-billion-dollar economy in the next 5 years.
“This is an opportune time to invest in the state with government facilitating a confluence of synergised and simplified policies, ease of regulatory compliance, synergistic partnerships and targeted leveraging of resources, infrastructure and capital,” he said.
Principal Secretary of Industries and Commerce Ajitabh Sharma made a presentation on the vast opportunities available in Rajasthan and encouraged the investors to explore the strategic advantage the state has due to its proximity to Delhi.
“The ITEs sector has a huge potential in the state of Rajasthan. The IT companies based out of Gurgaon and NCR planning expansion should keep Rajasthan in mind considering its proximity to Delhi, low cost skilled manpower, cost of rentals among others. The launch of new policies such as data centre policy will further facilitate the growth of IT sector,” he said.
Companies which signed MoUs
The investors' meet that saw the congregation of top business leaders and industry groups, witnessed the signing of investment MoUs across a range of sectors such as Renewable Energy, Power Transmissions, Oil and Gas, CNG, Logistics, Cement, Agrotech among others. The companies and industrial groups with whom the MoUs were signed include MoUs signed with Tata Power, Indian Oil, Avaada Group, NHPC, Reliance Bio Energy, Torrent Power, Sterlite Power Transmission, Mahindra Susten Private Ltd, THDC India, Oil India, Jindal Renewable Power, Essar Renewables, Indraprastha Gas, Adani Logistics, JK Cement, BL Agro Industries, Titagarh Rail Systems among others.
Prakash Bhandari is a veteran journalist with over 50 years of experience. He has worked with The Times of India for 30 years and contributed to leading publications as well as international news agency AFP.
