MoUs of Rs 30 trn signed ahead of Rising Rajasthan Investment Summit 2024

Investments worth Rs 30 lakh crore have been secured through Memorandums of Understanding (MoUs) by investors from India and abroad, ahead of the Rising Rajasthan Global Investment Summit 2024, an ambitious initiative launched by Chief Minister Bhajan Lal Sharma. The three-day event begins today, December 9 and will conclude on 11 December 2024 at the Jaipur Exhibition and Convention Centre (JECC).

 

The summit was inaugurated today by Prime Minister Narendra Modi followed by a welcome address by CM Sharma. The summit aims to attract big investments not only from within the country but also from global investors, and position Rajasthan as one of the key investment destinations in India. 

 

Global summit on sectoral innovations & more

The event features participation from 32 countries, 17 of which are designated as partner nations, including Japan, Switzerland, Singapore, Denmark, and South Korea. The summit welcomes more than 5,000 industry leaders, investors, and dignitaries, including prominent industrialists such as Kumar Mangalam Birla, Anil Agarwal, Anand Mahindra, Sanjeev Puri, and Ajay S Sriram.

 

The summit features 12 sectoral sessions covering water security, sustainable mining, sustainable finance, inclusive tourism, agri-business innovations, and women-led startups, among others. Additionally, eight country sessions will be conducted, focusing on themes like ‘Water Management for Liveable Cities’, ‘Versatility of Industries – Manufacturing and Beyond’, and ‘Trade and Tourism’.

 

Business leaders in attendance will share insights on policy reforms under the current state leadership and their impact on business and industry. Delegates from countries including the US, UK, Australia, and Russia are also scheduled to engage in discussions to explore opportunities for collaboration in the state.

Rajasthan’s economy and GDP

According to reports, the Gross Domestic Product (GDP) of Rajasthan for 2023-24 is estimated at Rs 16 trillion ($190 billion), making it the seventh-highest GDP among Indian states. The per capita GDP for this period is projected to be Rs 1.67 lakh. Rajasthan’s GDP is expected to grow by 17 per cent from 2023-24 to 2024-25.

 

In 2021-22, agriculture contributed for 27 per cent, industry contributed 24 per cent, and services made up 41 per cent to Rajasthan’s GDP. The state is one of India’s leading producers of minerals, with approximately 81 varieties found in the state. Between October 2019 and June 2024, the state attracted foreign direct investment inflows amounting to Rs 1.97 trillion.