BS Samriddhi: Rajasthan a goldmine of possibilities, says Rathore

Minister highlights the state's twin mantra - ease of doing business, and reduced cost of doing business

Explaining Rajasthan’s strong economic growth and its top rank in attracting investments, Col (retd) Rajyavardhan Singh Rathore, the state’s industry and commerce minister, said on Wednesday that the government, since taking office in December 2023, had followed two mantras — making it easier to do business in the state and lowering the cost of doing business. He was speaking at the Business Standard Samriddhi event in Jaipur, where he also launched the newspaper’s Hindi and English editions. 

A two-time Lok Sabha member, Rathore has been a Cabinet minister in the Rajasthan government since December 2023, handling key portfolios, including commerce & industry, information technology (IT) & communications, skill development & entrepreneurship, youth affairs & sports, and military welfare. 

In a fireside chat with Business Standard’s A K Bhattacharya, he spoke on an array of issues — from the state government’s efforts in building a land bank to his efforts in picking India’s future Olympians from Rajasthan. Here are edited excerpts of what he said on key issues: 

Economic growth, investment climate

 

Rajasthan is on track to become a ₹30 trillion economy in three and a half years. Development long delayed has created opportunities today. Strategically located between Delhi and Mumbai, the state enjoys favourable weather, abundant land, and a young workforce known for loyalty and hard work. Its position allows easy access to the entire north-zone market, while its potential as a skilling hub can benefit youth from Uttar Pradesh, Madhya Pradesh, Delhi, Punjab and Haryana. Rajasthan stands out as the most peaceful state in the region, free from regional divides, and is welcoming to people from across India. It offers not just a destination for business but also settlement. Leadership and policies should help businesspersons and youth to move forward. We are doing that across sectors.

 

Rajasthan’s spirit of entrepreneurship

 

Rajasthan’s entrepreneurs are born entrepreneurs. In the first year of our term, we organised the three-day Rising Rajasthan Summit in December 2024 to attract investments, dedicating a full day to businesspersons from Rajasthan and the diaspora, who we believe will lead the way in investing here. Opportunities span education, skilling, trading, mining, logistics, hospitality, and health — open not just to Rajasthanis but to all. The summit was global. During international visits, investors were struck by the state’s potential across a dozen sectors, not just tourism.

 

Rajasthan in India’s $5 trillion-economy goal

 

India today has a strong leader in Prime Minister Narendra Modi. Leadership plays a crucial role — whether in a family, a team, or a nation. When the Centre sets the goal of a $5 trillion economy and promotes “Aatmanirbhar Bharat”, it inspires confidence among entrepreneurs. The previous government felt being the largest market was a weakness. But PM Modi views it as our strength.

 

The India-European Free Trade Association (EFTA) trade pact is an example. For the first time, European nations have given a binding commitment not only to provide technology but also to invest $100 billion. Similarly, India has signed an energy treaty with the United Arab Emirates and a trade pact with Singapore. The government has fostered an environment of growth through initiatives like the production-linked incentive scheme for semiconductor manufacturing — a critical industry where India must build self-reliance.

 

Such policies benefit states. Every business investing in India must choose a state to locate in, and that is where states matter. Under Chief Minister Bhajan Lal Sharma, Rajasthan has adopted two clear principles: Make it easy to do business in the state, and reduce the cost of doing business.

 

Since taking office, we have introduced nine policies in critical sectors. These include an export-promotion policy — Rajasthan has always exported goods but never had a structured policy. We now have policies for logistics, garment manufacturing, cluster development, one-district-one-product, and data centres; an artificial intelligence policy is on the way. Each lays out clearly what the government will do and provide, ensuring investors face no ambiguity.

 

Beyond Rising Rajasthan, where we inked memoranda of understanding (MoUs), we are also handholding businesses. We are hiring consultants to make file movements easy for entrepreneurs. We have also created an IT structure, where single-window clearances are not done in offices but on an app. This IT structure is visible to the CM, ministers, and entrepreneurs, who know exactly where the file is.

 

Reducing cost of doing business

 

We have introduced direct land allotment to reduce the cost of doing business. The earlier policy of land auctions might have brought one-time revenue, but it did little for employment. High land prices fuelled real estate activity instead of manufacturing, offering no real benefit to Rajasthan’s youth.

 

Our approach is to move beyond slogans. The Rajasthan Investment Promotion Scheme (RIPS 24) is an example. Unlike the previous government, which provided no incentives, we extended nearly ₹1,000 crore incentives in the first year, benefitting 2,300 companies. This is just the beginning. We want to create employment in Rajasthan right now; we cannot wait for tomorrow.

 

We have also made underdeveloped land available to industries without delay. Instead of waiting for the Rajasthan State Industrial Development & Investment Corporation (Riico) to develop it fully, we allow businesses to take possession and develop it themselves at lower cost. As the PM says — reform, perform, transform. We are reforming policies, performing on delivery, and transforming Rajasthan from a ₹15 trillion economy to a ₹30 trillion economy in three and a half years.

 

Direct land allotment involves an entrepreneur signing an MoU, going to the Riico website, and choosing a plot. Each of the 419 Riico parks is there. We have a system to fix prices, and we allot the plot directly. The condition is that you must start production within three years, as the land belongs to the people of Rajasthan. For the micro, small and medium enterprises sector, we have a lottery system to allot land at a fixed price, instead of auctioning, which removes long waiting periods. We go by the highest price of last year, and consider the distance from city. A committee decides the price.

 

Internship scheme announced by the PM

 

I recently saw a reel where Rajasthan was described as the land of “sand dunes and camels”. But soon, it will be known for startups, innovation, and IT. With Gurugram reaching its limits and Rajasthan just an hour from Delhi via the expressway, our vision is to build an IT city with a 20-year horizon. Youth are ready to benefit from the PM’s internship scheme. Focused skilling is underway in stone, apparel, and hospitality, ensuring Rajasthan plays a central role in the scheme.

 

PM’s swadeshi and aatmanirbharta appeal

 

Rajasthan will play a big role. There are 56 minerals found in Rajasthan, and it is the largest producer of some like zinc. We have plenty of land. Our industrial corridor and expressway network is good.

 

Challenges facing Rajasthan

 

We overcame challenges when our government was elected. Rajasthan is a goldmine of possibilities. There is a “double-engine government”, and we have the right support from the Centre. We need better water management, for which new dams and canals are being constructed. A determined government is not one that sticks to existing laws, but one that frames new ones to facilitate ease of doing business.

 

Sporting culture and infra

 

India is preparing for the 2036 Olympics, and training athletes takes a decade. The playing field is a great equaliser, erasing boundaries of religion or income. We will identify children aged 10 to 14 with strong physical build — not just skill — and invest in them. India will not only host the Olympics but also win medals. Funds must be directed towards nurturing young athletes, not just building infrastructure.