Rajasthan Investment Summit: MoUs Worth ₹12.5 Trillion Signed in Mumbai and Delhi

Investment agreements (MoUs) totaling ₹12.5 trillion have been signed during recent roadshows in Mumbai and Delhi in anticipation of the upcoming "Rising Rajasthan" global investment summit scheduled for December 9-11 in Jaipur, announced Rajasthan Chief Minister Bhajan Lal Sharma on Monday.

During the roadshow in Mumbai, held in August, agreements worth ₹4.5 trillion were signed across various sectors, including renewable energy, cement, auto components, and battery storage, which are expected to create approximately 700,000 job opportunities in the state. An additional ₹8 trillion in MoUs were secured during the Delhi roadshow, Sharma revealed.

The Chief Minister emphasized that Rajasthan is rapidly becoming a hub for business, pledging to prioritize investor services. "Previously, investors faced delays due to bureaucratic hurdles, but we have simplified our policies to facilitate investment and business operations in Rajasthan," he stated.

Sharma highlighted that these initiatives aim to propel the state's growth story and increase employment opportunities, with an ambitious goal of doubling Rajasthan's economy from $180 billion to $350 billion within the next five years. He noted that the summit is designed to attract foreign investment, with fruitful discussions held with companies from South Korea and Japan. The Korean Stone Association and the state government are exploring ways to enhance stone exports from Rajasthan, while Samsung Healthcare is discussing the provision of advanced healthcare services using AI technologies.

The Chief Minister also announced that the state is streamlining industrial land acquisition and development through initiatives such as the Private Industrial Park Scheme and the Land Aggregation & Monetization Policy, which are intended to create a more favorable environment for business expansion.

Furthermore, the Rajasthan Investment Promotion Scheme (RIPS) 2024 has been approved by the cabinet, incorporating provisions to support micro, small, and medium enterprises (MSMEs) and emerging sectors. One Japanese company expressed interest in creating 15,000 jobs in addition to its investment plans. To assist residents seeking work abroad, the state will also establish a college focused on foreign language education.

Industry and Commerce Minister Col Rajyavardhan Rathore urged industry leaders to partner with the state not only through investments but also by providing training and skill development for Rajasthan's youth to harness the state's favorable demographic advantage.

Ajitabh Sharma, principal secretary of industry and commerce, highlighted key sectors poised for job creation, including tourism, renewable energy, logistics, real estate, and IT services. He noted that the state has established a dedicated investor services platform, Raj Nivesh, which offers over 122 services across 14 departments, along with a GIS-enabled industrial land portal, ensuring a turnaround time of just 17 days for applications.

BS