Rajasthan attracts huge investments, emerging as a business hub of the country

Jaipur, Oct 9

It's raining investments in Rajasthan which is sure to turn the desert state into a business hub of the nation.

Top industrialists of the country were in Jaipur recently during the Invest Rajasthan summit which paved the way for the state to emerge as a leader in the renewable energy segment, cement manufacturing, sports, fintech and much more.

Gautam Adani, chairman of the Adani group, shared how the state should get the credit for accommodating the world's largest wind-solar hybrid power plant.

He said, "just a week ago we achieved commercial operation of the world's largest wind-solar hybrid power plant, and it is here, in Rajasthan."

He highlighted the state's contribution to making Adani the second-largest cement manufacturer in India. "Following our acquisition of Ambuja Cements and ACC, we are now the second largest cement manufacturer in India. We anticipate investing another Rs 7,000 crore to double our cement manufacturing capacity in the state," he said.

Dr Praveer Sinha, CEO & MD, of Tata Power, said, "Rajasthan has today emerged as a role model to produce green energy through solar power. We are fully poised to make Rajasthan future ready and realise its full potential and emerge as a Green Power House of the country."

The company said it plans to develop up to 8000 MW of utility-scale projects, 1000 MW of solar rooftops and 1,50,000 solar pumps in the next five years in the state.

Adani praised Chief Minister Ashok Gehlot and said, "In the economic domain, your vision has laid the foundation to turn Rajasthan into our nation's solar energy leader. It is fascinating to see you repurpose - what many call the inhospitable Thar desert - into one of the global capitals of renewable power."

Not only Adani, but Vedanta chairman Anil Agrawal also praised the desert state and said, "There are about 30 types of stones in Rajasthan, which are in demand all over the world."

He added that he will help in building a world-class stadium in Jaipur.

"I was surprised to see that world-class stadium in Ahmedabad. CM Gehlot wishes that such a stadium should also be built in Jaipur. I would like them to build this stadium," he added.

A total of 25 RIICO Industrial Areas were launched simultaneously for the first time in Rajasthan during the Invest Rajasthan summit.

Officials confirmed that there are preparations going on to make Jaipur a Fintech City. A Fintech Park was also launched at the summit on Friday.

It is being launched as the first fintech ecosystem in North India on the lines of Mumbai to attract investors.

Also, there are preparations to make equipment like X-ray machines in Rajasthan. A Medical Devices Park is being set up in Boranada, Jodhpur. Apart from this, investors have also been invited to this summit for the Medical Devices Park, Glass and Ceramic Zone.

Similarly, a petro zone is being developed at Borowas Kalwa, and Ramnagar Thobe near the refinery which it is believed will generate a huge number of jobs.

Gehlot also launched the Rajasthan Investment Promotion Scheme (RIPS) 2022 which is in congruence with his vision to make Rajasthan the most preferred investment destination in the country.

Speaking during the Invest India summit, industries minister Shakuntala Rawat said, "Our state is the only producer of Zinc and Lead and ranks second for minerals in the country that are required for the ceramics sector. For the vision of inclusive balanced industrial development, the industrial policy has been implemented."

Gehlot also enumerated the reasons why Rajasthan is the best for investment.

He said, "If we compare the GDP with other states, Rajasthan comes in the seventh place. Rajasthan has emerged as a manufacturing hub in northern India with a wide variety of small, medium, and large enterprises that have been established."

The Chief Minister also informed that under the current year's proposed budget, Rs 250 crore provision has been made for developing a multi-storey industrial complex at Greater Bhiwadi and Boronada in Jodhpur. This will benefit the manufacturing and service sector units of the state, he said.

4,192 MoUs/LOIs amounting to Rs 10.44 lakh crore have been received from various national and international investors. The MoUs/LoIs that was signed includes sectors like Mining and Minerals, Agriculture and agro-processing, among others.

Forty per cent of the MoUs/LOIs received have already been implemented or are in an advanced stage of implementation.

--IANS