Rajasthan bags investment commitments worth about Rs. 78,700 cr

Major investors include Renew Power and JK Lakshmi

The Rajasthan government on Wednesday said it has received investment commitments worth about Rs 78,700, the bulk of which came from renewable energy firm Renew Power and cement maker JK Lakshmi. 

The state government has signed memorandums of understanding (MoUs) worth Rs 68,698 crore and letters of intent (LOIs) worth over Rs 10,099 at the Delhi roadshow of its upcoming investors' summit 'Invest Rajasthan 2022', a press release said.

The proposed investments are concentrated in districts where Rajasthan State Industrial Development and Investment Corporation (RIICO) has developed special sectoral zones over the years, the statement said. RIICO is an agency of the state government that has played a key role in the industrial development of Rajasthan.

Rajasthan Chief Minister Ashok Gehlot said: “Invest Rajasthan 2022 is the manifestation of our commitment to building enduring partnerships with private enterprise for development of the state and prosperity of our people. It is an important milestone towards delivering on the commitments made by us to investors. I invite you to experience and benefit from the bouquet of exciting opportunities Rajasthan has to offer, and to join us in building a promising future for all of us”

Renew Power has proposed to invest Rs. 50,000 crore in renewable energy and solar module manufacturing in various districts. JK Lakshmi has proposed to invest about Rs. 4,250 Crores in Nagaur, Udaipur and Alwar for cement manufacturing and limestone mining.

Other investors include JK Cement that has proposed an investment of Rs 1,500 crore in Jaisalmer. Eyewear brand Lenskart has proposed to invest Rs. 400 crore in Bhiwadi. Daikin Airconditioning has committed Rs. 294 crore. Electric two-wheeler maker OKAYA EV has proposed to set up an EV manufacturing and assembling unit in Neemrana at an investment of Rs 121.36 Crore.

The state's Industries & Commerce Minister Shakuntala Rawat, said, “The leadership of the state has carved the policy framework in a way that can accelerate the growth of the focus sectors in Rajasthan. RIPS 2019 scheme of incentives, MSME Policy, Single Window System (SWS) and One Stop Shop (OSS) facility are the initiatives that has made investment processes easy.”