Raj attracts record Rs 5-lakh crore investment in 4 years: Study

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Rajasthan has surpassed its own past record in getting new investment proposals. During the last four years (2018-19 to 2021-22), the state received new projects worth Rs 5 lakh crore.

A joint study conducted by the MSME Export Promotion Council and the Rajasthan Chamber of Commerce & Industry (RCCI), showed a significant improvement in the speed of completing the projects and attracting Rs 1,22,848.67 crore worth investment projects. It also enabled the state generate over three lakh new employment opportunities.

Releasing a 34-page statistical study in its Delhi office today, Dr K L Jain, president RCCI and Dr D S Rawat, chairman, 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 of Rs 60,587.45 crore were revived. The state received a large number of new investment proposals in 2021-22 worth Rs 2,52103.35 crore and a significant number of proposals are under implementation.

According to the study, currently Rs 7,03,662.00 crore worth are 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 equal number of jobs will be created indirectly.

There has been a growth in the micro, small and medium sector in the state which has already crossed the number of 6 lakh and nearly 25 per cent of the units have exported last year worth Rs.72,000 crore.

Streamlining of procedures, rules and regulations for ease of doing business, strengthening of a ‘single window’ system and attractive package of incentives have been highly effective.

The state’s industrial development corporation (RIICO) has reportedly already allotted 57,350 industrial plots, developed more than 400 industrial areas providing complete innovative means of infrastructure and financial support services, and has 50,000 acres of developed land and around 43,000 units in production.

The investment activity in 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.

Rajasthan has attained the number two position in the country, after Madhya Pradesh, in organic farming and in 2021-22, total area under organic certification process was 686429.61 ha, cultivated farm area 488904.77 ha, total production 346961.32 MT and export 9142.59 MT worth Rs.109.17 crore.

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 6,000 lakh to befit 36,000 farmers in 15 districts.