Rising Rajasthan Global Investment Summit 2024: Catalyzing Growth and Innovation

Rajasthan is emerging as a pivotal player in India’s industrial and investment landscape, driven by government initiatives and a focus on inclusive growth. With a strong emphasis on infrastructure development, renewable energy, and fostering an investor-friendly environment, the state is positioning itself as a key destination for global and domestic investors.

In a bid to attract investments and showcase Rajasthan’s potential, the Government of Rajasthan, along with Bureau of Investment Promotion, Government of Rajasthan and CII as the industry partner, is organizing the Rising Rajasthan Global Investment Summit 2024 from 9-11 December in Jaipur. This summit aims to bring together industry leaders, investors, policymakers, and other stakeholders to explore investment opportunities and foster partnerships that can drive the state’s economic transformation.

MAJOR TAKEAWAYS FROM THE DELHI ROADSHOW

The Delhi Roadshow, held on 30 September 2024, was graced by Shri Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan; Col Rajyavardhan Rathore, Minister, Department of Industry & Commerce, Information Technology & Communications, Youth Affairs & Sports, Skill Development & Entrepreneurship and Military Welfare, Government of Rajasthan; Shri Sudhansh Pant, Chief Secretary, Government of Rajasthan; Shri Ajitabh Sharma, Principal Secretary – Industries & Commerce, Government of Rajasthan; several senior officials of Government of Rajasthan; CEOs; and leaders of the business and corporate world.

They collectively provided a preview of what to expect from the Rising Rajasthan Global Investment Summit 2024 and highlighted several key areas for growth and collaboration:

• Strategic Infrastructure Development: With plans to build 53,000 km of new roads and 2,650 km of greenfield expressways, Rajasthan is rapidly improving connectivity within the state and with key markets across India.

• Renewable Energy Leadership: The state aims to expand its renewable energy capacity to 33,600 MW by 2031-32, opening up significant investment opportunities in green energy projects.

• Focus on MSMEs and Emerging Sectors: The recently launched Rajasthan Investment Promotion Scheme 2024 is set to boost investments in MSMEs and emerging sectors, with a focus on IT, logistics, and agro-processing. The government’s simplified processes and investor-centric policies are expected to attract major players to these sectors.

• Ease of Doing Business: The state’s e-governance initiatives and regulatory reforms are creating a conducive business environment. Rajasthan is focusing on faster approvals, risk mitigation, and ease of entry and exit for investors to promote a more dynamic and competitive industrial ecosystem.

• Leveraging Natural Resources: Rajasthan’s abundant natural resources, including minerals, solar energy, and land availability, provide a strong foundation for industries such as mining, renewable energy, and agro-based manufacturing. The state’s strategic location, with access to major ports and markets, further enhances its attractiveness as an investment destination.

• Women Empowerment and Employment: With an aim to create 3.4 million jobs by 2030, the state government is focused on addressing gender gaps in the workforce. Special emphasis is being placed on increasing women’s participation, particularly in emerging sectors like renewable energy and IT.

EXPERIENCE SHARING BY INDUSTRY LEADERS

The Delhi Roadshow provided a platform for prominent industry leaders to share their experiences and insights on doing business in Rajasthan, emphasizing the state’s growing appeal as an investment destination:

• Mr Ajay S Shriram, Past President, CII and Chairman & Senior Managing Director, DCM Shriram Ltd, commended Hon’ble Chief Minister Shri Bhajan Lal Sharma for his visionary leadership in organizing the Rising Rajasthan summit in the first year of his tenure. He credited the Chief Minister’s proactive efforts for promoting economic development in the state.

• Mr Chandrajit Banerjee, Director General, CII, emphasized CII’s commitment to attracting major manufacturing players to the state. He announced that CII will set up an IGBC centre in Rajasthan to focus on green products, green cement, and green steel. Additionally, CII will bring its Centres of Excellence on sustainability, water, food, agriculture, green building, and skills & livelihood to Rajasthan.

• Mr Madhav Singhania, Chairman, CII Northern Region and Deputy MD & CEO, JK Cement Ltd, spoke about Rajasthan’s unique blend of cultural heritage, natural resources, and strategic location, positioning it as one of the most attractive destinations for investors. While sharing his own experience at JK Cement Ltd, he highlighted the state’s consistent improvements in the Ease of Doing Business index, noting the introduction of e-governance initiatives and single-window clearances that have streamlined processes for businesses.

• Mr Sanjay Agarwal, Vice Chairman, CII Rajasthan and CEO & Managing Director, AU Small Finance Bank shared his experience of investing and running the business in Rajasthan. He noted that the Government of Rajasthan is taking a number of reforms to facilitate ease of doing business in the state.

THE ROAD AHEAD

As Rajasthan gears up for the Rising Rajasthan Global Investment Summit 2024, the focus remains on building sustainable and inclusive growth. The government is committed to forging strong public-private partnerships, fostering innovation, and creating an enabling environment for businesses to thrive. As the state continues to unlock opportunities in sectors like manufacturing, green energy, and technology, it is poised to play a central role in India’s growth story.