Investment policies on the anvil ahead of Rising Rajasthan summit

The Rajasthan government is slated to announce a slew of investment policies ahead of the Rising Rajasthan summit in December.

It is working on the Rajasthan Investment Promotion Scheme (RIPS), 2024, and One District One Product (ODOP) policy. In a bid to attract investments across sectors, new policies for mineral and tourism industries are also in the pipeline.

The RIPS, 2024, would seek to establish the state as an investment hub on the global map while the ODOP policy would aim to accelerate economic development within each district by harnessing the potential of local specialties. The policy would help streamline investments, enhance production capabilities, and increase competitiveness.

The new mineral policy would create a conducive investment climate and attract significant domestic and foreign inflows into the sector while the revamped tourism policy is expected to streamline the process of setting up tourism enterprises.

The government is expected to announce some of the major policies soon.

The Rising Rajasthan investment summit is scheduled from December 9-11. Prime Minister Narendra Modi is expected to inaugurate the event.

To make the summit a success, Chief Minister (CM) Bhajan Lal Sharma, Deputy CMs Diya Kumari and Prem Chand Bairwa, and Commerce Minister Rajyavardhan Singh Rathore are holding roadshows in India and abroad to seek investments in the state.

The government has received investment commitments worth over Rs 15 trillion so far.

At a recent Rising Rajasthan investor meet in Germany’s Munich, CM Sharma invited the corporate world to invest in luxury resorts, wellness, adventure and eco-friendly tourism.

“During Germany-leg of investor outreach, the CM-led delegation also held talks with investors from the mobility, engineering, consulting, automotive, and health sectors. The delegation visited the headquarters of Germany’s travel-tech company FlixBus in Munich and interacted with its global leadership team. During the meeting, a memorandum of understanding (MoU) was signed with the German company, under which FlixBus will be making a significant investment in Rajasthan and expand its operations within the state, which will lead to both direct and indirect job creation,” a senior state government official said.

The delegation is currently in London to partake in an investor outreach programme from October 16-19.