Delhi Breaks Mumbai's Record at Roadshow for Rajasthan Global Investment Summit 2024
Gopendra Nath Bhatt
Ahead of the Rising Rajasthan Global Investment Summit 2024 scheduled for December in Jaipur, the Rajasthan government has been organizing roadshows and investor summits in various cities across the country and abroad. Notably, the capital city, New Delhi, has surpassed Mumbai by signing Memoranda of Understanding (MoUs) worth approximately ₹8 lakh crore for investment in the state, nearly double the ₹4.5 lakh crore secured during the Mumbai roadshow. This brings the total value of signed investment-related MoUs for the summit to over ₹12.5 lakh crore.
The New Delhi roadshow was also led by Chief Minister Bhajan Lal Sharma, who participated in marathon meetings lasting nearly ten hours throughout the day. Many prominent figures from the industry and business sectors attended, including Ajay S. Shriram, Chairman and Senior Managing Director of DCM Shriram Limited; Dr. Praveer Sinha, CEO and Managing Director of Tata Power; Vineet Mittal, Chairman of Avada Group; Deepak Shetty, CEO and Managing Director of JCB India Limited; Sanjay Agarwal, Managing Director and CEO of AU Small Finance Bank; Chandrjeet Banerjee, Director General of the Confederation of Indian Industry; and Madhav Singhania, Deputy Managing Director and CEO of JK Cement Limited.
Alongside Chief Minister Sharma were the state's Minister of Industries and Commerce Colonel Rajyavardhan Singh Rathore, Chief Secretary Sudhanshu Pant, Additional Chief Secretary Shikhar Agarwal, Principal Secretary of the Department of Industries Ajitabh Sharma, and several other senior officials from the Rajasthan government.
The roadshow in Delhi is being conducted with the support of the Confederation of Indian Industry (CII), which is the industry partner for the "Rising Rajasthan" Global Investment Summit 2024. Additionally, PwC India serves as the knowledge partner for this summit.
On Monday, several major companies and industrial groups signed MoUs with the government for investment in Rajasthan. Notable participants included Tata Power, Indian Oil, Avada Group, NHPC, Reliance Bio Energy, Torrent Power, Sterlite Power Transmission, Mahindra Sustain Private Limited, THDC India, Oil India, Jindal Renewable Power, Essar Renewables, Indraprastha Gas, Adani Logistics, JK Cement, and BL Agro Industries, among others. Investments were agreed upon in various sectors, including renewable energy, power transmission, oil and gas, CNG, logistics, and agritech.
During the event, Chief Minister Sharma invited domestic and international investors, industry leaders, innovators, startups, and other stakeholders to invest in the state and participate in the "Rising Rajasthan" Global Investment Summit 2024, scheduled for December 9-11 in Jaipur. He emphasized the government's commitment to doubling Rajasthan's economy from $180 billion to $350 billion within the next five years. The focus is not just on signing investment-related MoUs but also on actualizing them. Steps are being taken to simplify the acquisition and development of industrial land, alongside initiatives like the Private Industrial Park Scheme and Land Aggregation and Monetization Policy.
Minister Rathore stated that Rajasthan is a land of limitless possibilities, with robust infrastructure and a government eager to partner with investors. Chief Secretary Sudhanshu Pant added that now is an opportune time to invest in the state, as the government aims to enhance cooperation through coordinated and simplified policies, easing regulatory compliance, and providing investors with access to resources and infrastructure.
Ajitabh Sharma, Principal Secretary of the Industries Department, presented on Rajasthan's strategic location, highlighting its proximity to Delhi and the vast investment opportunities across various sectors within the state.
On the second day of the roadshow, October 1, a delegation led by Chief Minister Sharma will host a roundtable with ambassadors and diplomats from key countries, including the USA, UK, Germany, Japan, Italy, South Korea, Australia, UAE, Denmark, Indonesia, Malaysia, Singapore, Turkey, Spain, Switzerland, Brazil, Qatar, and South Africa.
To ensure the success of the "Rising Rajasthan" Global Investment Summit 2024, the state government is actively engaging with domestic and international investors, institutions, and corporate leaders to facilitate large-scale investments and move toward the goal of a "Developed Rajasthan." In the past month, investor roadshows have already been conducted in Mumbai, Seoul, Tokyo, Osaka, Dubai, Abu Dhabi, and Doha.
The investment proposals emerging from both New Delhi and Mumbai raise hopes for additional investments ahead of this mega event. It remains to be seen how effectively the state government will implement these proposals in line with the Chief Minister's vision.
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