Published On:May 24 2024
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Rajasthan Government Announces Investor Summit in Jaipur to Boost Solar Power Development

The Bharatiya Janata Party (BJP) government in Rajasthan is gearing up to organize an investment summit in Jaipur later this year, aiming to attract industries and bolster solar power development.

Sources within the Industries Department and Bureau of Industrial Promotion (BIP) have confirmed that extensive preparations are underway for the summit. BIP, the nodal agency for investment promotion and single-window clearances in Rajasthan, is taking the lead in these efforts. The organization of the summit is likely to be entrusted to a Mumbai-based company.

BIP is also considering partnerships with national business chambers such as ASSOCHAM, FICCI, or CII to enhance the event. The summit will cover investments in over 30 sectors, including energy, chemicals and petrochemicals, cement, medical and health, mines and minerals, pharmaceuticals, handicrafts, and tourism.

The last major investment summit in Rajasthan was held in 2022 under the Congress government led by Ashok Gehlot. That summit resulted in over 4,000 memoranda of understanding (MoUs) being signed, promising investments worth more than ₹10.44 trillion and projected to create employment for 200,000 people.

For the upcoming summit, BIP, the Industry Department, and the Rajasthan State Industrial Development and Investment Corporation (RIICO) plan to invite leading Indian and multinational companies. Investor outreach will commence in June, with roadshows and meetings being scheduled to attract participation.

Despite long-standing efforts to promote industrial growth in Rajasthan, progress has been hampered by the state's insufficient electricity supply. To address this, the upcoming summit will place a strong emphasis on solar energy development, aiming to leverage the state's potential in this sector.

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