The Rajasthan government exchanged memorandum of understanding worth Rs. 4.50 lakh crores during its first investors’ meet roadshow in Mumbai. The latest initiative ‘Rising Rajasthan’ aims to give boost to the economy and make the state a USD 350 billion economy in the next five years.
In the run-up to 'Rising Rajasthan' global investment summit 2024, the first domestic roadshow was held in Mumbai on Friday in association with Confederation of Indian Industry (CII). The investment summit will be held from December 9 to 11 in Jaipur, which will aim to attract potential investors from across the country as well as from across the globe. It will aim to attract and facilitate global investment, innovation, and partnerships in the state.
On Friday, Rajasthan government exchanged MoUs worth Rs. 4.50 lakh crores with over 10 companies that will invest in the sectors of renewable energy, cement, oil and gas, auto component parts, polymer, fertiliser and battery storage among others. The state claimed that these investments are estimated to produce around 6.78 lakh employment opportunities.
Bhajan Lal Sharma, chief minister of Rajasthan, said, “Through Rising Rajasthan, we are laying the foundation stone of a new Rajasthan. We have created an atmosphere of investment in the state and are committed to motivate and support the investors. We have prioritised ease of business in the state through our provisions in the latest state budget. We want to assure the investors that Rajasthan government will assist at the ground level in materialising all the MOUs signed.”
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Through Rising Rajasthan, the state government will also appoint 25 senior bureaucrats to cater to the needs of investors from across 25 states and countries. The state is aiming at attracting investment from foreign countries including Switzerland, which was recently visited by the state’s minister of industries. The investment summit will also host subsequent domestic and international roadshows in Delhi, Hyderabad, Chennai, Japan, South Korea, Singapore, UAE, Saudi Arabia, the United Kingdom and Germany.
The purpose of these roadshows is to raise awareness about the upcoming summit, attract valuable investors to Rajasthan and showcase the state as the most preferred investment destination. A high-level delegation from the Rajasthan Government will also be traveling across the world to invite investors, institutions, corporations, and industries for investing in the state.
Col. Rajyawardhan Rathore, Rajasthan’s cabinet minister for industry and commerce, said, “Rajasthan is the land of warriors, valour and entrepreneurs. We realise that economic power is the utmost necessity for us and we are committed to make this state an industrial power in the next five years. I recently visited Switzerland which has agreed to invest USD 100 Billion in India and they are looking at Rajasthan as a potential investment state.”
