Rajasthan govt plans investor summit in Jaipur to develop solar power

The Bharatiya Janata Party government in Rajasthan is planning to organise an investment summit in Jaipur later this year to help industries and develop solar power.

Sources in the Industries Department and Bureau of Industrial Promotion (BIP) said preparations have started for the summit on a “large scale”. BIP is the nodal agency in charge of investment promotion and single-window clearances in Rajasthan,

According to sources, the responsibility for organising the summit is likely to be handed over to a Mumbai-based company.

BIP too has started preparations and is considering a national business chamber like ASSOCHAM, FICCI, or CII to partner with it for the event. Sources said the summit would discuss investments in more than 30 sectors including energy, chemicals and petrochemicals, cement, medical and health, mines and minerals, pharmaceuticals, handicrafts, and tourism.

The 2022 Rajasthan Invest Summit was organised by Congress leader Ashok Gehlot’s government, which was voted out of power the next year.

In 2022, companies signed more than 4,000 memoranda of understanding (MoU) with the state government for investments worth more than Rs 10.44 trillion. At that time, it was said the state had got Rs 1.93 trillion in investments over the years and they would provide employment to 2,00,000 people.

For the summit this year, BIP, the Industry Department, and the Rajasthan State Industrial Development and Investment Corporation plan to invite leading Indian and multinational companies.

The organisers are expected to start contacting investors in June. A chart tracking where road shows and meetings are to be held is being prepared.

Despite decades-long efforts to promote industries in Rajasthan, not much progress has been made. The main reason for this is the state not being self-sufficient in electricity. The summit is likely to focus on solar energy due to this reason, sources said.