Rising Rajasthan Summit to get a push from local trade association

A local chamber has come forward to help make the Rising Rajasthan, a global investment summit, successful.

 

The business summit will be organised in Jaipur from December 9 to 11.

 

The ‘Rising Rajasthan’ Summit 2024, which Prime Minister Narendra Modi will inaugurate, is expected to facilitate global investments, innovation, and partnerships. According to the state government, it is expected to attract investments worth more than Rs 15 trillion.

 

All Rajasthan Trade and Industry Association (ARTIA) has decided to support investors who enter into memorandums of understanding (MoU) and letters of intent (LoI) under Rising Rajasthan in whatever way it can.

 

 

ARTIA says that it will assist as a facilitation center for the new investors coming to Rajasthan under Rising Rajasthan and make it successful, as a similar event failed to take off in 2022. The idea behind this is that the MoUs or LoIs that have been signed should come on the ground so that Rajasthan can develop and come on top in terms of industrial production and employment.

 

According to ARTIA, the previous Ashok Gehlot government organised a similar summit in Jaipur in October 2022 when 4,192 MoUs and letters of intent worth Rs 10 trillion were signed. However, less than 10 per cent of investment proposals made it to the Invest Rajasthan-2022.

 

 Kamal Kandoi, chairman of ARTIA, said that the first requirement of the investor is land for the project. “Information about how much government land is available in which area of Rajasthan and what its DLC (District Level Committee Rate) rate will be made available to the investors so that they can select a place/land according to the project,” said Kandoi.

 

He also said that the second requirement for investors is availability of water. However, out of the 413 industrial areas declared developed by Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO), in 183 industrial areas, neither RIICO nor the water supply department has ensured water supply.

 

“We will assist in providing water legally, in which the main process is to obtain NOC from the Central Ground Water Authority while taking water from boring,” he said.

 

Prem Biyani, executive president of ARTIA, pointed out that a major requirement is good infrastructure. “With the help of regional public representatives and administrative officials, we will try to boost infrastructure facilities,” Biyani said.

 

“Once the project is established, we will assist in setting up a recycling and treatment plant of wastewater with the help of regional Panchayat Samiti or Nagar Palika. Apart from this, ARTIA will assist in making finance available to MSME sectors. ARTIA has also recently signed an agreement with Yes Bank in this regard,” he said.

 

According to the agreement with Yes Bank, the bank will provide its services to ARTIA as its Preferred Banking Partner It will also provide faster business banking services with low interest rates and less documentation, especially in MSME Loan, medical equipment loans, industries loan, solar loan among others.