PRESS NOTE

15 February 2023

RAJASTHAN SURPASSED ITS OWN RECORDS BY ATTRACTING OVER RS FIVE LAC CR INVESTMENT IN FOUR YEARS SAYS STUDY

Rajasthan has surpassed its own past records in getting new investment proposals during the last four years (2018-19 to 2021-22) and received new projects worth Rs,5,07,015.62 cr, according to the joint study conducted by the MSME Export Promotion Council and the Rajasthan Chamber of Commerce & Industry (RCCI).

There has also been a significant improvement in the speed for completing the projects and Rs.1,22,848.67 cr worth of investment projects were completed which helped to generate over 3 lac new employment opportunities.

Releasing jointly the Study here today, Dr. K L Jain, president of RCCI, and Dr D S Rawat, chairman, of MSME EPC said, “Rajasthan has emerged as an investment powerhouse and the new investment promotion scheme of 2022 launched by the state government is facilitating the state to become preferred investment destination through competitive incentive offerings and greater flexibility for investors”.

The projects worth Rs.60,587.45 cr were revived.  The state received a large number of new investment proposals in 2021-22 worth Rs.2,52103.35 cr and a significant number of proposals are under implementation. The study says, that currently Rs.703662.00 cr worth is under implementation according to the data collected by the Centre for Monitoring of Indian Economy (CMIE). Once the ongoing projects are complete more than four lakh direct employment opportunities shall be generated and an equal number of jobs will be created indirectly.

There has been growth in the micro, small, and medium sectors in the state which has already crossed the number of 6 lakh and nearly 25 per cent of the units exported last year worth Rs.72,000 crores. Streamlining of procedures, rules, and regulations for ease of doing business, strengthening of ‘single window’ system, and attractive package of incentives have been highly effective.

The state’s industrial development corporation (RIICO) has reportedly already allotted 57350 industrial plots, developed more than 400 industrial areas providing complete innovative means of infrastructure and financial support services, has 50000 acres of developed land and around 43000 units in production, said Rawat.

The investment activity in the real estate sector is headed towards a robust increase in demand. The projects in line in the state involve the total investment value of Rs.75 billion. Rawat said the increasing project completions, supportive policies, and improving consumer sentiments have boosted buyer confidence in this sector.

The state is also aspiring to tap the huge market of Rs.1 lakh cr global shipping container market and has attracted the first manufacturing unit in Bhiwadi; diamondblue shipping solutions. It is stated that the Indian container market size by 2028 would be around US$ 10.3 billion registering a growth CAGR of 1.7% during this period. Since investors are looking for opportunities in this sector, Rajasthan after Gujarat could be the hub for shipping container manufacturing.

Rajasthan has attained the number two position in the country, after Madhya Pradesh, in organic farming, and in 2021-22, the total area under the organic certification process was 686429.61 ha, cultivated farm area of 488904.77 ha, total production of 346961.32 MT and export 9142.59 MT worth Rs.109.17 cr. The state has also launched “kheti mein jaan sashakt kisan” as a pilot project to support natural farming to reduce input costs with a view to empower farmers through remunerative agriculture. The state government has decided to spend Rs.6000 lakhs to befit 36,000 farmers in 15 districts.

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