Investment summit displayed Rajasthan's business potential: Col Rathore

The summit was held from December 9-11 in Jaipur

The Rajasthan government signed MoUs worth Rs 35 lakh crore during the Rising Rajasthan Global Investment Summit 2024, the highest in state’s history, state Industry and Commerce Minister Col Rajyavardhan Rathore said during an interview with Anil Sharma, emphasising that this would lead to multi-sectoral growth and create employment opportunities. Rathore also stressed on the government’s commitment to make the state a favourite destination for investors.

 

The Rajasthan government organised the Rising Rajasthan Global Investment Summit 2024 in the first year of its term. How did it go?

 

Aligned with the vision of “Viksit Bharat”, articulated by the Prime Minister Narendra Modi, the Rising Rajasthan Global Investment Summit 2024 was an attempt to showcase the state's immense investment opportunities and business potential. The earnestness of our government towards garnering investment and creating new jobs were evident from the fact that we organised the summit in the first year of our term, which demonstrated a clear intent to attract investments and create jobs.

 

 

The summit resulted in the signing of investment MoUs worth Rs 35 lakh crore — the highest in Rajasthan's history. These investments are set to drive growth across multiple sectors, ensuring job creation and industrial development within the next four years. We aim to make Rajasthan a leader and a favourite destination in investment and this investment summit will certainly help us to do so.

 

Rajasthan secured investment proposals worth Rs 35 lakh crore. What factors may have gone in favour of the state for such a response from the investors?

 

Several factors made Rajasthan a preferred destination for investors. Initiatives such as RajNivesh platform digitised the investment process, simplifying approvals via a single-window system. Pro-investment policies like the Rajasthan Investment Promotion Scheme (RIPS) 2024 provided attractive financial incentives, including subsidies, tax exemptions, and employment generation incentives. The state widened its global outreach by appointing 23 senior IAS officers in international jurisdictions as single points of contact (PoCs) for foreign investors, ensuring personalised support and a smooth investment process. These steps created a conducive business environment, boosting investor confidence in the state.

 

Converting the MoUs into projects is a challenge. How is the government going to achieve that?

 

Unlike previous governments that used to organise the investment summit at the fag end of their tenures as a PR and publicity exercise, the government under the leadership of Chief Minister Bhajan Lal Sharma made the bold decision to organise the summit in the very first year to ensure that the signed investment proposals are converted into on-ground projects in the remaining tenure.

 

We will review the MoUs regularly and see to it that the prospective investors are not facing any difficulty and also pursue with them to invest.

 

In what ways was the summit unique?

 

In addition to being the most successful investment summit in the state’s history by signing record investment MoUs worth Rs 35 lakh crore, the ‘Rising Rajasthan’ Global Investment Summit 2024 is unique in several other ways. The next edition is already scheduled for 2026, fostering predictability and transparency. The summit featured 12 thematic sessions, 8 country-focused discussions, and a spotlight on Micro, Small & Medium Enterprises and Non-Resident Rajasthanis (NRRs). Policymakers, industrialists, and subject experts discussed trends and opportunities across various sectors. A significant portion of investment is anticipated in green energy, aligning with the commitment to achieve net-zero goals by 2070. This multifaceted approach ensured a balanced focus on large industries, small enterprises, and global investors.