The Rajasthan government organised the Investors Connect Programme in Mumbai, with national partner, the Confederation of Indian Industry (CII), to attract investments in the state across various sectors. The event was graced by Shakuntala Rawat, Industries & Commerce Minister of the government of Rajasthan.
With this prelude of state level investors summit, the state has bagged memoranda of understanding (MoUs) worth Rs 1,27,459 crore and letter of intents (LoIs) worth Rs 67,379 crore, totalling investment commitments of Rs 1,94,838 crore. These MoUs and LoIs were signed in the presence of Industries & Commerce Minister Shakuntala Rawat.
The investments are majorly proposed in sectors such as renewable energy, mines & minerals, city gas, pharma, engineering, among others. These mega projects will create new employment opportunities for around 1,44,000 people. Overall, the huge investment in the private sector will boost the state’s growth.
The state has an adequate power supply, water resources, roads and other necessary infrastructure facilities that are connecting the neighbouring states and with closer proximity to the country’s capital.
The Rajasthan State Industrial Development and Investment Corporation (RIICO), the sole government agency in the state, is involved in development of land for industrial enterprises. It has become home to many conglomerates, corporate houses and manufacturing units, housed in more than 360 industrial areas developed by RIICO. The state has over 87,000 acre of land bank.
Over 42,000 units are already operational in RIICO industrial areas and about 150 more are in planning process. It has three operational SEZs, nine ICDs, one operational and four upcoming multi-modal logistics hubs, seven airports and one cargo complex. Moreover, RIICO is also developing a MedTech Medical Devices Park over 230 acre at Jodhpur.
The state government has taken up a unique initiative by setting up One Stop Shop (OSS) system. Under the Scheme, entrepreneurs investing above Rs 10 crore will be able to get 98 types of clearances under one roof at OSS under the Bureau of Investment Promotion of the Industries Department.
Under this system, officers from 14 major departments, including industries, energy, labour, urban development, local self-government, state pollution control board, consumer affairs, tourism, revenue, public works, health and the Rajasthan State Industries Development & Investment Corporation, will be deputed to the OSS cell, thus ensuring that investment-related issues concerning multiple departments are received and addressed at one location to avoid unnecessary delay in clearances. Additionally, investments above Rs 100 crore are entitled to get customised incentives package from the state government.
The event saw some of the marquee investors announcing mega projects. JSW Future Energy has proposed to invest Rs 40,000 crore to set up a 10,000 MW renewable energy project in the Jaisalmer district, while the Vedanta Group has proposed exploration expansion worth Rs 33,350 crore in the state. These projects will create direct and indirect job opportunities for 21,900 people.
Similarly, Greenko Energies would set up an integrated renewable energy storage project at an investment of Rs 30,000 crore. Adani Green Energy plans to develop 4,000 MW renewable energy project in Jaisalmer, Barmer, Jalore and Jodhpur districts at an investment of Rs 20,000 crore. The company has also received letter of intent (LoI) from the state government for the said project.
Apart from this, Adani Total Gas has proposed Rs 3,000 crore city gas supply project in Udaipur, Bhilwara, Chittorgarh and Bundi. Krish Pharma has proposed to set up a pharma unit in Sirohi at an investment of Rs 750 crore.
Sunpowergen India and Velnik India also announced plans to set up units in the state at an investment of Rs 50 crore each. Maharaja Cement proposed to set up Rs 25 crore cement manufacturing unit in Jodhpur.
During the event, LoIs were handed over to major companies. Avaada Power received LoI from the state government for setting up five GW solar power project at Bikaner, Barmer, Jaisalmer, Jodhpur. The Rs 26,000 crore worth mega project will create employment opportunities for 1,000 people.
The state government also issued LoI to GMT Pipes and Tubes for its upcoming seamless/welded GI/SS pipes unit worth Rs 350 crore and NZ Seasonal Wear for developing Rs 250 crore integrated textile park in Dungarpur. These projects will create employment for 8,500 people.
The All India Plastics Manufacturing Association (AIPMA) would set up plastic products unit entailing an investment of Rs 200 crore, while ABOK Spring (P) would set up a unit worth Rs 150 crore for manufacturing of safety components for the Indian Railway, allied infrastructure and development of algorithms for manufacturing process.
The Invest Rajasthan Roadshow is a first-of-its-kind event post COVID-19 to have 28 more roadshows in various districts and states ahead of Invest Rajasthan 2022. For the first time the state government has emphasised not only on signing MoUs/LoIs but also real ground breaking and inauguration of the projects of the investors.