Rajasthan Chief Minister Bhajan Lal Sharma addresses the Investor Meet organized for the upcoming ‘Rising Rajasthan’ Global Investment Summit 2024, in Mumbai on Friday (August 30, 2024).
| Photo Credit: ANI
Rajasthan Chief Minister Bhajan Lal Sharma said that over the next two months, a high-level delegation from the State government will travel across the country and over 25 nations around the globe to attract investment.
In a freewheeling conversation with The Hindu during his visit to Mumbai, where he was inviting industrialists to invest in Rajasthan as part of the preparations for the ‘Rising Rajasthan’ Global Investment Summit 2024, he said that IAS officers have been assigned to each location to ensure continuous communication with entrepreneurs. “These officers will maintain regular contact with representatives of foreign or inter-State companies, as well as their respective governments, until their retirement. They will visit as needed and get expertise on the region, potential investments and trade, essentially serving as our ambassadors to these regions, similar to how diplomats specialise in the affairs of China, Japan, Russia, the U.S. and other countries—only they will coordinate from Rajasthan,” he explained.
Mr. Sharma explained their commitment to providing comprehensive support for new ventures for the economic growth of the State, aiming to align with the national goal of ‘Viksit Bharat@2024’ set by Prime Minister Narendra Modi.
“We are focused on ensuring that every entrepreneur receives all the necessary facilities through a single-window system to simplify the process of setting up industries. Our objective is to expedite the completion of projects and the establishment of industries and provide employment,” he said.
Mr. Sharma said that his administration is focusing on a multi-pronged approach to double Rajasthan’s GDP from its current $184 billion to $350 billion in the next five years, which translates to a targeted annual growth rate of 10%. “This is an ambitious target given the current structure of the State’s economy and due to this we have decided to host ‘Rising Rajasthan’ in the very first year of my government. To achieve this economic leap, we have already identified certain focus sectors like renewable energy, ESDM, green hydrogen, petrochemicals, health, textile, agri-processing and tourism,” he said.
He said that their focus is not just on signing MoUs, but on ensuring that these agreements translate into real investments on the ground. “The early timing of the investment summit is intended to give us four years to review and execute these projects effectively,” the 57-year-old first-time MLA, who became the Chief Minister of the country’s largest state in December last, said, adding they have already signed MoUs worth over ₹4.5 lakh crore at the Mumbai roadshow on Saturday (August 31, 2024).
When asked about the burgeoning technology sector, particularly ESDM, IT and ITeS, Mr. Sharma said that the State is positioning itself as a hub for emerging technologies, including Web 3.0, data science, and deep tech. “We are developing Greenfield Electronics Manufacturing Clusters in Salarpur and Bhiwadi and are offering incentives and customised packages to attract tech companies and startups. “Rajasthan’s abundant natural resources, such as silica for semiconductors, manganese, copper, zinc, and lead which are used in various electronic components, batteries, and protective coatings, further bolster our appeal to the technology and electronics manufacturing sectors,” he said.
“Over 320 clear sunny days annually make it ideal for large-scale solar installations. Similarly, a green energy corridor is being developed in western Rajasthan to integrate solar and wind power production,” he said.
As AI and Machine Learning continue to reshape industries, Mr. Sharma sees these technologies not as threats but as opportunities for skill development. “We are committed to equipping our youth with the skills needed to thrive in a tech-driven economy.” The upcoming Rajasthan IT and ITes Policy-2024 would further improve digital infrastructure, ensuring that investment processes are streamlined and investor-friendly, he said.
