Investment summit MoUs of Rs 2.25 trn in groundbreaking, implementation

The Bhajan Lal Sharma government in Rajasthan claims that it has been able to bring memorandums of understanding (MoUs) worth ₹2.25 trillion during the groundbreaking and implementation stages in just three months after its investment summit.

 

The ‘Rising Rajasthan’ Global Investment Summit 2024, held in December last year, resulted in MoUs in different sectors worth around ₹35 trillion.

 

Recently, state Chief Secretary Sudhansh Pant chaired a fortnightly review meeting to assess the progress made in implementing MoUs signed during the Rising Rajasthan Global Investment Summit 2024.

 

Pant said that effective monitoring and inter-departmental coordination played a key role in bringing MoUs worth ₹2.25 trillion in the groundbreaking and implementation stages in just three months.

 

 

Pant added, “The three-tier review mechanism, effective monitoring and direct supervision of the implementation process by the Chief Minister have resulted in achieving this feat.”

 

The state government has trifurcated investment MoUs signed during ‘Rising Rajasthan’ Global Investment Summit 2024 into A, B and C categories.

 

According to the plan, the chief minister reviews MoUs exceeding ₹1,000 crore, the chief secretary is focused on MoUs ranging from ₹100 crore to ₹1,000 crore and investment proposals below ₹100 crore are handled by the principal secretary, industries.

 

Sources in the industry department said the state government hopes to touch 10 per cent (around ₹3.5 trillion) of ₹35 trillion MoUs signed during the Rising Rajasthan summit by the end of this month.

 

Sourabh Swami, additional commissioner, Bureau of Investment Promotion (BIP), Government of Rajasthan, said in order to fast-track the pace of MoU implementation, the government has ushered in technology and data analytics through the MoU implementation portal and the online investor interface.

 

“Through these online mechanisms, the key steps of the proposed investment are not only accessible to various departments tasked with execution of the MoUs but also investors, who can track the progress of their project in real-time,” Swami said.