Investors Meet and MoU Signing Ceremony

• 25 Aug 2022

Why In News?

• On August 24, 2022, MoUs worth Rs 69,789.93 crore were signed between the Government of Rajasthan and investors in the 'Investors' Meet and MoU Signing Ceremony' held in New Delhi under 'Invest Rajasthan 2022'. This will generate a total of 11846 direct employment opportunities in the state.

Key Points

• The 'Investors Meet and MoU Signing Ceremony' was held in New Delhi as part of 'Invest Rajasthan 2022' to be held in Jaipur on October 7 and 8. So far, MoUs and LoIs worth about Rs 11 lakh crore have been signed, including this MoU.
• The MoU worth Rs 69,789.93 crore includes about Rs 40,000 crore on green hydrogen and ammonia project by Avadda Power, Rs 25,000 crore in renewable energy and solar energy sector by O2 Power SG Pte, Rs 1400 crore by Asahi India Glass Limited, Rs 1000 by St Gobain There are proposals to set up a float glass manufacturing unit with an investment of Rs 1 crore.
• Apart from this, Varun Beverages Limited will set up a manufacturing unit of carbonated soft-drinks, fruit-juice and packaging products worth Rs 636 crore. Wipro will invest Rs 200 crore in the hydraulic cylinder project in Jaipur.
• On this occasion, Chief Minister Ashok Gehlot said that there is immense potential for the establishment of industrial zones in Rajasthan. Many schemes are being run by the state government for industrial development. This has made it easier for investors to invest in the state.
• At present, Rajasthan has become the leading state in the entire country as a state with huge investments in refineries, petrochemicals, solar energy, education, health, infrastructure development etc. Rajasthan has become the first choice with the favorable policy framework available to investors.
• The Chief Minister said that industrial zones are being set up in every block of Rajasthan by RIICO. Rajasthan has better connectivity than the country as 25 percent of NCR is in power. Rajasthan ranks first in the country in the field of solar energy. A large part of the Dedicated Freight Corridor and Delhi Mumbai Industrial Corridor also pass through Rajasthan. This will give a big benefit to the investors.
• The Chief Minister said that under RIPS, investors are being given packages as per their requirement. Under MSME-2019, all government approvals are being made available at one place from the one stop shop system with no government permission required for 3 years to the new enterprise units.
• The state government has formulated a policy for every sector including solar energy, wind energy, MSME and RIPS. Jodhpur district has the world's largest solar park spread over 14 thousand acres.
• Speaking on the occasion, Industries and Commerce Minister Shakuntala Rawat said 40 percent of the DFC corridor area and about 60 percent of the DMIC pass through the state. Due to the largest state and strategic situation, Rajasthan offers huge investment potential. Recently, several steps have been taken to promote investment like One Stop Shop, Rajasthan Investment Promotion Scheme 2019, Facilitation of Establishment and Operation Act.
• Rajasthan Small Industries Corporation Limited Chairman Rajiv Arora said that Rajasthan has become the best place for investment. Rajasthan is called the land of opportunities. Investors are getting various approvals on the same portal in Rajasthan. The state government is committed to work towards the development of Rajasthan with new cargo complex in Jaipur, new facility for export clearance and new cargo complex in Udaipur, ICD in Bikaner.