In a significant boost to industrial development, the Rajasthan State Empowered Committee (SEC) has given its approval for projects valued at a staggering Rs 49,883 crore under a customised incentive package. This move, announced on Thursday, aims to provide additional benefits beyond those offered by the existing Rajasthan Investment Promotion Scheme (RIPS), positioning the state as a prime destination for investors.
Major Sectors and Job Creation
The meeting, which was chaired by Chief Secretary V Srinivas, reviewed proposals from a diverse range of sectors. These include renewable energy, cement, steel, textiles, automobiles, medical and education, mines and petroleum, as well as hotels. According to an official government statement, these approved projects are projected to create approximately 13,271 new employment opportunities, contributing to economic growth and livelihood enhancement in the region.
Key Companies Benefiting from the Package
Several prominent companies have been identified as eligible for the customised package. The list features industry leaders such as Jindal Renewable Power, Star Cement, Dalmia Bharat Green Vision, and JSW Cement. Additionally, automotive giant Honda Motorcycle & Scooter India, along with Hindustan Zinc Ltd, Chambal Fertilisers and Chemicals, Sangam (India), Jindal Saw, Fortune Foundation, and Goyal Fashions are set to benefit from these enhanced incentives.
Commitment to a Transparent Investment Ecosystem
Chief Secretary V Srinivas emphasized the state's dedication to fostering a transparent, efficient, and investor-friendly environment. He stated, "By fostering a transparent, efficient, and investor-friendly ecosystem, the state is committed to enabling sustainable industrial development and creating long-term value for both investors and citizens." This approach underscores Rajasthan's strategic focus on attracting and retaining investments through robust policy frameworks.
Recent Reforms and Initiatives
Over the past year, the Rajasthan government has implemented a series of reforms to strengthen its investment ecosystem. Key measures include Ease of Doing Business initiatives, online Memorandum of Understanding (MoU) facilitation via a single-window platform, and time-bound approvals through the RajNivesh portal, which offers over 170 services across 19 departments. Furthermore, the state has introduced GIS-enabled industrial land databases and an e-auction portal for land allotment, streamlining processes for businesses.
Incentive Disbursement Under RIPS
In the current financial year, the state government has already disbursed incentives worth Rs 1,500 crore to industries under the Rajasthan Investment Promotion Scheme (RIPS). This demonstrates a proactive approach to supporting existing enterprises while simultaneously attracting new investments through the newly approved customised package.
