Economy

Invest Rajasthan Summit receives over ₹3.5-lakh crore commitments from industry

Rutam V Vora | | Updated on: Dec 08, 2021
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State looks to industrialise districts by MSME, large-scale funding

In order to take broad base industrialisation in all the districts, the Rajasthan government is pitching for industrial investments at block-level in the upcoming ‘Invest Rajasthan Summit’ in January 2022.

The two-day investment summit, to be held on January 24-25 in Jaipur, has so far received investment commitments including the intent for investments in excess of ₹3.5-lakh crore, informed a top official here.

“Our objective is to create an ecosystem of investments and generate employment at the grassroot levels. In this direction, we have already revamped the industrial environment with reforms in the industrial policies that provides incentives for MSMEs and also for large players investing ₹100 crore or more,” said Parsadi Lal Meena , Health and Excise Minister of Rajasthan government during a roadshow for Invest Rajasthan in Ahmedabad on Wednesday.

Dozen MoUs

During the Ahmedabad roadshow, 12 MoUs were signed with an investment commitment of ₹41,590 crore in the areas of renewable energy, city gas distribution, cement, logistics and hospitality and tourism. Azure Power, Solarpack Corporation, ACME Cleantech, Torrent Gas, NU Vista, are among the top investors signing the MoUs on Wednesday.

Meena also suggested that the Rajasthan government will work to make it attractive for the ceramic and tiles industries located in Gujarat’s Morbi to invest in Rajasthan’s mineral rich regions and set up their base closer to the raw material. “Currently, we are in the process to develop a gas grid as required by the ceramic industry,” said Archana Singh – Commissioner Industries & Commerce and Investments & NRIs.

‘Intent to invest’

The State also received Letter of Intents (LoIs) worth ₹64,110 crore from the prospective investors showing an intent to invest. “For the projects worth over ₹100 crore, we are providing customised packages based on their requirements. These include reduction in bank guarantees, duty reduction, among others,” said Singh.

Separately, during a roadshow in Mumbai, the State received MoUs worth ₹1,27,459 crore and LoIs worth ₹67,379 crore totalling over ₹1,94,800 crore investment commitments taking the total committed investment so far at over ₹3.5-lakh crore.

The MoUs were signed in the presence of Shakuntala Rawat, Industries & Commerce Minister of Rajasthan in Mumbai on Wednesday. Those lining-up large projects included JSW Future Energy with ₹40,000 crore for 10,000 MW Renewable Energy project in Jaisalmer district; Vedanta Group with ₹33,350 crore; and Greenko Energies with ₹30,000 crore projects.

Gautam Adani-led Adani Green Energy has proposed ₹20,000 crore renewable energy project of 4,000 MW in Jaisalmer, Barmer, Jalore and Jodhpur, also the group’s CGD arm Adani Total Gas has proposed ₹3,000 crore investment besides, Krish Pharma for a unit in Sirohi with ₹750 crore investment, among other 40 proposed projects.

Published on December 08, 2021

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