Investment proposals worth over Rs 5.21L crore pour in ahead of 'Rising Rajasthan' summit

Jaipur: The Rajasthan government has received investment proposals worth over Rs 5.21 lakh crore (over $62 billion) within two 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, an official said on Saturday.

"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 Rajasthan Industry and Commerce Minister Rajyavardhan Rathore.

The 'Rising Rajasthan' Investment Summit 2024 will be organised on December 9, 10 and 11 in Jaipur.

An official said that the 3-day summit aims to attract and facilitate global investment.

Chief Minister Bhajan Lal Sharma announced the dates of 'Rising Rajasthan' summit and also unveiled its logo on August 1.

Moreover, CM Sharma had also launched a single-point investor interface for easier submissions of the MoUs by the investors that are seeking to make investments in Rajasthan through a simple form.

The investment summit will be organised with the support of the Industry and Commerce Department, 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.

According to officials, the state government will soon be going for domestic and international roadshows to meet national and global industrialists, corporates, international institutions, among others.

Meanwhile, Ajitabh Sharma, Principal Secretary (Industries), said: "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 existing business community in the state."

Prominent sectors which have received significant investment proposals include solar manufacturing, cement, petrochemicals, iron and steel, healthcare, tourism, textiles and apparels, renewable energy, green hydrogen, etc. These projects have the potential to generate about 1.55 lakh direct employment opportunities.

The received investment proposals (worth Rs 5.21 lakh crore) amount to over 33 per cent of Rajasthan's present economy (GSDP) which is estimated to be Rs 15.28 lakh crore in 2023-24.