Eagerly awaited, the first Board of Investment (BOI) meeting chaired by Shri Ashok Gehlot, CM of the state, was held today. Despite having global challenges with the COVID pandemic, Rajasthan Government has been very keen on attracting investors to the state aiming for the future growth and prosperity of the citizens. Rajasthan Government has cleared customized package of incentives for investment worth over Rs. 1,67,000 Crore in the state today, of which the major contributor sector is renewable energy.
The private sector plays a key role in economic development and job creation of a State. With these investments nearly 40,000+ new employment will be added in the state. Out of these investment opportunities, only renewable sector will provide 90% of jobs and that too in the barren land areas of the state, which are less fortunate due to being non-agricultural lands. Jaisalmer, Jalore, Barmer are the districts to name a few. Adani Green Energy, Renew Power, Greenko Energies and JSW Solar are investing nearly Rs. 1,64,540 Cr in total and will be providing employment opportunities to 37000+ in the renewable energy sector in the next couple of years.
Shri Ashok Gehlot, Honorable CM Rajasthan, said, “It should be ensured that new projects are started in a time bound manner by removing bottlenecks in investment in the state. In the last two years, the state government has implemented many important policies and programs to increase investment in the state. Rajasthan Investment Promotion Scheme (RIPS 2019), Rajasthan Industrial Development Policy 2019, through One Stop Shop System and Single Window System and many facilities are being provided to investors.”
He instructed the officers that every effort should be made to increase investment in the state. He also said that to promote tourism in the state, the state government has created a tourism policy. This time an allocation of Rs 500 crore has been made in the budget for the Tourism Development Fund. This amount will be spent on branding of the state as a tourist destination and on the development and investment of tourism infrastructure. He instructed the officials that the department related to industry and investment should formulate an action plan with the tourism department and work to increase investment in the tourism sector in the state.
Other than RE, projects from Sahasara Semiconductors in the Electronics, Mewar Polytex in the Technical Textile, ASI Industries in the Engineering Manufacturing Stone, Hemdha Medisources in the Medical & Health and Kanchan India in Textile have also been cleared by the Board. Also, issues pertaining to projects of Kajaria Group in the Bathware Mfg and Ceramic Tiles, JCB in Earth Moving Machines, Saint-Gobain in the Glass manufacturing sectors were cleared for smooth operation of these projects. Collectively the total investment from these companies is estimated to be Rs. 3200+ Cr and employment to 5600+ persons are expected.
The BOI has been constituted under the Rajasthan Enterprises Single Window Enabling and Clearance Act. The State Government through an amendment in the act in year 2020 had provisioned the board for fast track clearance of proposals related to customized packages under RIPS 2019.
Ashutosh A. T. Pednekar (IAS), Industries Secretary, Rajasthan Government said, “Investment scenario in the State has changed in recent times. Corporates are entrusting the policies and support being extended by the State Government for setting up their ventures in Rajasthan. We have some major proposals lined up which will soon be taken upto appropriate level for decision.”
For the ease of doing business, Rajasthan has been constantly innovating the processes and notably, the state has achieved the place among the top states in the country in 2019 with an implementation score of 98.39%. The state has focused development in the sectors such as Renewable energy, Auto & Auto components, Textiles & Apparels, Food Processing, Petro Chemicals, Mines & Minerals, ESDM, Pharmaceuticals and Leather & Footwear with country leaders’ brands and companies of the each sector’s presence and investments in the state.
Saharsa Semiconductors will be setting up an assembling, testing, marking, packaging unit for production of memory components. It will go long way for becoming a self-reliant in domestic production to meet the rapidly growing electronics demand in the country. ASI Industries will be setting up engineered stone manufacturing unit which will be an export oriented unit which will export 90% of the produce to USA, Canada, Europe, Australia, New Zealand, South Africa, Gulf, etc.
With the aim of the state governments towards promoting investments One Stop Shop facility has been set-up at Bureau of Investment Promotion, Udhyog Bhawan, Jaipur. Online submission and clearance to projects having investment of more than Rs. 10 cr. is available at https://rajnivesh.rajasthan.gov.in/. Almost all licenses and approvals concerned to 14 departments is available under this facility for ease of starting of a business in the State. Till 31st March 2021, Rs. 12000+ crore investments have been received on RajNivesh portal seeking online clearance. Additionally, on industrial front, there are special zones for specialized industries being set up by the RIICO like PCPIR, Toy Zone, and Food Parks, etc.
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