Home / Economy / Rajasthan bags investment commitments worth nearly 70k cr

With the aim of becoming the prime investment destination in the country, Rajasthan government on Wednesday signed MoUs worth 69789.93 crores for investment in diverse industrial activities. 

The MoUs are a precursor to Rajasthan Government’s upcoming Investors Summit – Invest Rajasthan 2022 slated in Jaipur in October that would bring together investors from across the globe for committing projects in the state. 

The MoUs signed on Wednesday include investment proposals from companies such as Avaada Power, O2 Power SG Pte, Asahi India Glass Ltd., Saint Gobain, OKAYA, Varun Beverages, Wipro. 

While Avaada has committed an investment of 40,000 crore in the state to set up a Green Ammonia facility and a Renewable Energy power plant in Kota, Rajasthan, O2 Power will invest close to 25,000 crore to put up solar projects. Asahi India and Saint Gobain have committed a total of 2,600 crore for float glass projects in the state. 

Besides, Varun Beverages Ltd will be establishing a manufacturing unit for Carbonated Soft-drinks, fruit juices & packaging products of 636 Crores and Wipro to invest Rs. 200 crores in Jaipur for Hydraulic Cylinders.

Inviting investment in the state, Rajasthan Chief Minister Ashok Gehlot said that Rajasthan presented ideal environment for investors with good governance track record, solid infrastructure and industry friendly policy and efficient administration. 

He said that the industrial friendly landscape provided by the state has also been lapped up by the investors who have entered into MoUs worth 11 lakh crore in last four years with expectation that another 1 lakh crore worth MoUs may be signed next month and more during the time of investor summit on October 7-8, 2022. 

He said that the MoUs signed on Wednesday would create a total of 11846 direct employment opportunities in the state. The investments were majorly envisaged in various districts across the state including Bhilwara, Chittorgarh, Jhalawar, Ajmer, Jaipur, Udaipur, Alwar, etc. where RIICO has developed special sectoral zones over the years.

Apart from Gehlot, the MoUs signing ceremony was attended by Shakuntla Rawat, Industries & Commerce Minister of Rajasthan Government; Rajiv Arora, Chairman, The Rajasthan Small Industries Corporation Limited, Government of Rajasthan; Usha Sharma, Chief Secretary, Rajasthan; Veenu Gupta Additional Chief Secretary Industries & Commerce, Rajasthan; Shubhra Singh, Chief Resident Commissioner; Akhil Arora, Principal Secretary, Finance, Rajasthan; Bhaskar Sawant, Principal Secretary, Energy, Rajasthan among others.

Gehlot said, “I am happy that Investor Summit is happening at such a big scale. I would like to hear and understand the problems that investors face investing in Rajasthan, I assure you that I am committed to provide solutions to you."

“Some of the most successful industrialists who have touched heights in business are from Rajasthan. Rajasthan has come long way as a state investing heavily into education, health, infrastructure, refinery, petrochemicals, renewable energy, etc. Industries play a vital role in all development. With good law and order situation, beautiful roads, focus towards health, and many other new developments, Rajasthan is a wonderful state for you all to come and invest."

Shakuntla Rawat, Industries & Commerce Minister of Rajasthan Government, said, “With importantly 40% of DFC corridor area and nearly 60% of DMIC passing through the state, the largest and strategically located Rajasthan offers huge potential for investment. Rajasthan in the recent past has introduced several interventions to promote investments such as One Stop Shop, Rajasthan Investment Promotion Scheme 2019, Facilitation of Establishment and operation Act, etc. Rajasthan invites investors to be a part of its developmental journey with Invest Rajasthan initiative."

Later addressing a press conference Gehlot said that Congress Working Committee is meeting on August 28 where he would convince Rahul Gandhi to takeover as Congress president again.

“My role is currently as CM of Rajasthan and have been given charge of observer for Gujarat. I am doing my work with full honesty," he said without replying to questions whether he would agree to any suggestion from Congress to take charge of the party. 

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout