Rajasthan marches along the path of resurgence

03-Mar-2016 #State Policy Source: India Inc

As part of a nationwide “Ease of Doing Business” agenda, each of the 29 states in India have launched their own efforts to attract global investments. IIJ zeroes in on Rajasthan as part of its “In Focus” segment.

As one of the most solar rich states, Rajasthan is hoping to cash in on the Indian government’s drive to increase renewable sources of energy in the country. Its broad “Resurgent Rajasthan” campaign encompasses the state’s unique offerings for domestic and international investors. In the words of chief minister Vasundhara Raje: “Resurgent Rajasthan is not a brand or slogan but a movement encompassing the entire spectrum of government, society and business.

“This is a beginning of a new tomorrow. Our scale of transformation is vast; therefore, the opportunities we offer are massive. We welcome investors, local as well as global, with open arms.” She describes her state as an emerging investment and tourism capital of India, with some of the focus sectors narrowed down.

In this segment, ‘India Investment Journal’ presents a snapshot of Rajasthan’s demographics, its claims of resurgence and a series of investment opportunities, especially in the field of solar and renewable energy.

Rajasthan ranks sixth in India on World Bank’s ‘Ease of Doing Business’ index. Jaipur ranked as the second most emerging cities for investment in India.

Rajasthan Industrial Development and Investment Corporation Ltd. (RIICO), the nodal agency for development of energy from renewable energy sources in the state, is working on creating the right infrastructure base and support for the establishment of new enterprises.

Japan seems to be ahead of the curve in the region with a “Special Japanese Zone” at Neemrana (Alwar), spread across 1,167 acres, where Japanese multinationals like Nissin, Mitsui, Nippon, Daikin, TPR Auto, Mitsubishi, Dykie Colour and Toyota Kirloskar Motor have been allotted land and a number of units are already operational. Another “Japanese Investment Zone” over 500 acres at Ghiloth is also being developed.

A “Korean Industrial Zone” spread over 263 acres is also being developed at Ghiloth and is expected to attract major Korean entrepreneurs in the coming years and also boost trade between India and Korea. On a broader scale, Rajasthan offers special economic zones (SEZs) for gems & jewellery (Jaipur) and handicrafts (Jodhpur) besides a world-class multi-product SEZ of Mahindra World City, which is a joint venture of RIICO and Mahindra Group.

Plans for a “Dedicated Freight Corridor (DFC)”of a 1,483km long rail link connecting Jawaharlal Nehru Port near Mumbai to Dadri near Delhi is in the works. The state foresees the DFC will allow high-speed connectivity for high axle load wagons (25 tonnes) of double stacked container trains supported by high power locomotives. A band of 150 km has been chosen on both sides of the DFC to be developed as the Delhi-Mumbai Industrial Corridor.

But it is in the field of solar power that the state hopes to attract the most investments with a variety of sops for global investors including exemption from electricity duty and an ease of procurement in terms of land.

Each ‘IIJ’ edition will focus on different states of the country, not only as an attempt to compare and contrast the growth spectrum in India but also to present a comprehensive look at opportunities in every corner of the vast country.

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