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RIICO calls for EV investment ride in Rajasthan

The apex industrial development body of Rajasthan Government, Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO) organised Rajasthan EV Industry Investors Meet on Friday (February 26, 2021). The webinar was held to discuss with key players of the EV sector for developing EV manufacturing ecosystem in state.  The webinar registered high enthusiasm of auto component and OEM manufacturers. It was attended by more than 200 participants from prominent companies and organizations including Honda Cars, Maruti Suzuki, Toyota Kirloskar, Mahindra & Mahindra, Ford India, Bajaj Auto, Ampere Vehicles, Amara Raja Batteries, Bosch, Tata AutoComp Systems, Anand Automotive, Ramkrishna Forgings, Continental Device India, JBM Group, Sun Mobility, JK Tyre, Bridgestone, IFC World Bank, Enterprise Singapore and Australian Trade & Investment Commission. The webinar comes in time when state of Rajasthan is focusing on Electric Vehicle sector in a big way.

The top officials from Industries Department, Govt. of Rajasthan Shri Ashutosh A. T. Pednekar, Secretary Industries & MD, RIICO; and Smt. Archana Singh, Commissioner Industries & Commissioner BIP informed various incentives being offered under RIPS, thrust by the Government of Rajasthan on promoting EV manufacturing in the State and advantages of being located in Rajasthan. Shri Ravi Jain, Secretary & Commissioner Transport, Government of Rajasthan highlighted important factors of the proposed EV policy. The participants appreciate the support being offered by Rajasthan Government for the emerging EV sector and expressed hopes from the proposed EV policy. 

The state of Rajasthan is already a leader in terms of Renewable and Clean energy, the state government is also focused towards developing the infrastructure to support emergence of Electric Vehicles. In the recent state budget, Chief Minister of Rajasthan, Shri. Ashok Gehlot also made important announcements related to EV domain. The state government has included the EV industries under thrust sector under RIPS and has also reduced the investment criteria for being eligible for thrust sector benefits to Rs. 25 crore.

Advisor Infrastructure Connectivity and Electric Mobility at NITI Aayog, Shri Sudhendhu Jyoti Sinha in his address expressed optimism of Rajasthan becoming a lighthouse state in terms of Electric Vehicle manufacturing.

RIICO had organised the webinar with knowledge support of Yes Bank.  The webinar also hold a panel discussion on ‘Component Manufacturing Vital for Robust Domestic EV Ecosystem’ and industry stalwarts including Shri Ashok Kumar Taneja, Managing Director & CEO, Shriram Pistons & Rings; Shri Vivek Vikram Singh, MD & Group CEO, Sona Comstar; Shri Mahesh Babu, CEO, Mahindra Electric; Shri Jeetendar Sharma, Managing Director, Okinawa Autotech; and Dr. Richard Lobo, Head Innovation (R&D) and CQH – Business Excellence, Tata Chemicals shared their views.

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