Rising Rajasthan
The Government of Rajasthan has received investment proposals worth over INR 5.21 lakh crore (over USD 62 billion) within 2 weeks of the announcement of dates for the ‘Rising Rajasthan’ Investment Summit 2024, marking a new era of economic development and prosperity of the state.
Prominent sectors which have received significant investment proposals worth thousands of crores include solar manufacturing, cement, petrochemicals, iron and steel, healthcare, tourism, textiles and apparel, renewable energy, green hydrogen etc. The Bureau of Investment Promotion (BIP), the nodal department for the investment summit, has received proposals from some of the biggest names in the Indian and global corporate sectors. These projects have the potential to generate about 1.55 lakh direct employment opportunities.
The received investment proposals (worth INR 5.21 lakh crore) amount to over 33% of Rajasthan’s present economy (GSDP) which is estimated to be INR 15.28 lakh crore (at current prices) in 2023-24. The ‘Rising Rajasthan’ Investment Summit 2024 will be organised on 9th, 10th and 11th December in the capital city of Jaipur and the 3-day mega summit aims to attract and facilitate global investment, innovation, and associations into the state. Hon’ble Chief Minister Shri Bhajanlal Sharma announced the dates of ‘Rising Rajasthan’ and unveiled its logo on August 01, 2024.
Moreover, Hon’ble Chief Minister Shri Sharma has also launched a single-point investor interface for easier submissions of the MoUs by investors who are seeking to make investments in Rajasthan through a simple form. All the received investment proposals (worth INR 5.21 lakh crore) so far have been received through this interface only, which is a first for the state.
“The Industries Department is thrilled with the spectacular response that has been received up until now from the investors. The department has been working tirelessly for the past 6-7 months to make Rajasthan an attractive destination for investment and this is an outcome of that,” said Colonel Rajyavardhan Rathore, Hon’ble Industry and Commerce Minister, Government of Rajasthan. The state government shall soon be going for domestic and international roadshows to meet national and global industrialists, corporations, and international institutions among others.
“The tremendous response received from the investors’ community shows that there has been a remarkable increase in the trust of investors in Rajasthan and its potential. This is a reflection of the work done by the officials of the Industries department. The major focus has been on improving the ‘Ease of Doing Business’, creating a conducive ecosystem and building supporting infrastructure, providing solutions to the issues of the existing business community in the state,” Shri Ajitabh Sharma, Principal Secretary (Industries), Government of Rajasthan said.
The investment summit is organised with the support of the Industry and Commerce Department, the Bureau of Investment Promotion (BIP), and RIICO. Through the summit, the Rajasthan government is aiming to bring investments to focus sectors such as agriculture and agro-processing, mines, minerals and petroleum, auto and auto components, chemical and petrochemical, ESDM/IT and ITeS, medical and health, tourism and textile.
