Rajasthan bags investment commitment of ₹78,700 crore at Delhi roadshow

Rajasthan is working on a new policy to boost Electric Vehicles (EV) manufacturing in the State, Archana Singh – Commissioner Industries & Bureau of Investment Promotion, of Rajasthan Government, has said.

This will be among the thirteen new policies that are in the works by various departments and expected to be released before the first ever ‘Invest Rajasthan 2022’ event slated to be held on January 24-25 next year at Jaipur.

These new policies will among other things focus attention on attracting investments in new age and innovative industries including chip manufacturing, she told BusinessLine on the sidelines of the Roadshow held here on Wednesday.

The Invest Rajasthan event is patterned on the Vibrant Gujarat event hosted by the Gujarat government. However, in the case of Rajasthan, the State has decided to enter into MoUs with prospective investors ahead of the D-day of January 24-25.

At its roadshow in Delhi ahead of the ‘Invest Rajasthan 2022’ event next year, Rajasthan has bagged investment commitment of ₹78,700 (MoUs worth ₹68,698 crore and Letter of Intents of over ₹10,099 crore).

The investments are majorly proposed in the industries across the State ie Ghiloth, Bhiwadi, Neemrana, Jaipur, Udaipur, Alwar and many other districts where RIICO has developed special sectoral zones over the years.

Marque investors who have lined-up huge investments for their projects include Renew Power, which has proposed to invest ₹50,000 crore in Renewable Energy and Solar Module manufacturing in various districts; JK Lakshmi has proposed to invest about ₹4,250 crore in Nagaur, Udaipur and Alwar for cement manufacturing and limestone mining; JK Cement has proposed investment of ₹1,500 crore in Jaisalmer; Lenskart has proposed to invest ₹400 crore in Bhiwadi; Daikin Airconditionning to invest ₹294 crore, OKAYA EV has proposed to set-up EV manufacturing and assembling unit in Neemrana at an investment of ₹121.36 crore.

Shakuntala Rawat, Industries & Commerce Minister of Rajasthan Government, who headed the Delhi roadshow said, “The leadership of the state has carved the policy framework in a way that can accelerate the growth of the focus sectors in Rajasthan. RIPS 2019 scheme of incentives, MSME Policy, Single Window System (SWS) and One Stop Shop (OSS) facility are the initiatives that has made investment processes easy.”

Shubhra Singh – Principal Resident Commissioner & ACS Coordination, Government of Rajasthan said, “Rajasthan is the largest state of India in respect to size and is rich in minerals and other natural wealth. Over the past few years, a robust policy and infrastructure framework has been developed in the state to complement industrial growth. Rajasthan has gradually become the choice of investors as it provides ease of doing business and investors friendly policy framework.”

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