The Resurgent Rajasthan Partnership Summit was recently held in Jaipur on 19th and 20th November 2015 with the aim of attracting investment from private sector and to sensitise them for investment in the State. The Resurgent Rajasthan Partnership Summit conference offered sector- specific, cross sectoral discussions and deliberations, an MSME conclave where one –on- one meetings were organised with Industry leaders.
The summit will get together leading investors from all over the world and local business community for interactions on investment environment and opportunities in Rajasthan.
Rajasthan, geographically a state rich in natural resources offers a competitive policy environment, developed infrastructure, a remarkable talent pool to the investors. Promising investment opportunities can be found across a wide range of sectors which include information technology, automotives, renewable energy, tourism, health care, agro-processing minerals, textiles, defence, electronic hardware and MSME.
Rajasthan ranks at No.6 in India on World Bank’s “Ease of Doing Business” Index according to the report of Department of Industrial Policy and Promotion on Assessment of State Implementation of Business Reforms.
The state has witnessed an economic growth rate of 11% (at current prices: 2014-15) as per Gross State Domestic Product. Key Industries of the State are: Cement & other mineral based industries, textile, tourism, gems & jewellery, dimensional stones (marble and granite) and agro processing.
Rajasthan is a major exporter of Gems & Jewellery, woollen carpets, hand printed apparels and furnishings, tie & dye clothes, handicraft articles, marble, granite and engineering goods. Rajasthan has seen phenomenal growth also in emerging sectors such as Auto & auto component manufacturing solar component manufacturing IT and ITes, Ceramics and glass, oil and gas, power generation and road construction. Well planned and congestion free cities of Rajasthan have strong urban infrastructure with wide roads, parks clean drinking water and other civic facilities.
Focus Sectors of Resurgent Rajasthan Partnership Summit
The focus sectors of Resurgent Rajasthan Partnership Summit 2015 are Infrastructure IT & ITes, Auto & Engineering ,New and Renewable Source of Energy, Tourism, Health Care, Agro and Food Processing, Minerals and Ceramics, Textiles, Defence Manufacturing, Electronic Hardware and MSME.
Rajasthan has 20,000 kilometres of State Plans to build under PPP mode in next five years. Rajasthan was one of the pioneering States in the Country to execute road development projects on BOT basis. The State is aggressively building an extensive network of major drinking water projects across the State. 109 large drinking water projects benefitting 83 cities and more than 18,000 villages and hamlets have been sanctioned by the State Government.
The State has country’s biggest IT SEZ spread over 750 acres. The annual intake capacity of technical institutes in Rajasthan is over 355 thousand students (including ITIs, Polytechnic and Engineering Colleges).
The state offers lower manpower costs, lower staff attrition rates, lower land and office space costs and access to a large pool of relatively untapped educated professionals. The state is known to produce proficient and skilled finance and account professionals like chartered accountants, cost accountants and company secretaries in large numbers coupled with low cost of operations.
The State is promoting Medical and Health sector extensively. Due to the tremendous potential for medical tourism, the state offers opportunity for private sector investment in medical and health care institutions and medical, dental and paramedical colleges. Defence industry has been identified as one of the thrust sectors to promote and facilitate investments in Rajasthan.
Steps have been initiated by the state government to boost the confidence of private sector to invest in the defence industries in the field of encouraging R&D, higher degree of self-reliance, indigenisation and support substitution. Rajasthan is endowed with a promising textile hub and the abundance of raw material and trained labour has been the key drivers of this growth.
To further accelerate the growth of this sector, 16 ATDC Smart Centres have been set up in Rajasthan for providing trained manpower. Eight integrated textile parks have been sanctioned in Rajasthan with Government of India assistance of Rs.40 crore each and are in various stages of progress.
One of the Focus Sectors is Renewable Energy as Rajasthan has one of the best solar insolation in the world. Rajasthan is India’s leading state in tapping wind energy for power generation.
The wind energy potential in the state is estimated to be about 5400 MW. A total of 3065.55 MW wind power capacity has been installed as on December 2014.
Rajasthan also shines on the solar map of India with 300 to 330 clear sunny days comparable to deserts of California, Colorado and Arizona. Within the state the districts such a Barmer, Jaisalmer and Jodhpur are the key regions with best solar radiation. Rajasthan is endowed with two critical resources that are essential to solar power production-high level of solar radiation and large tracts of relatively flat, undeveloped land. These factors were key contributors to the state receiving maximum share of 873 MW out of 1100 MW allocations (79.36%) in Phase I of Jawaharlal Nehru National Solar Mission.
Traditionally Tourism has been the mainstay of the economy of the state with an assortment of wide and varied tourism products from heritage sites, serene lakes, wildlife sanctuaries, fairs and festivals, various dance and art forms to royal luxury trains.
Part of the Golden Triangle , it is one of the most travelled state and contributed to over 20% of country’s Foreign Tourist Arrivals during the year 2014. Pertaining to its diverse tourist experiences, the State is also visited by a large number of domestic tourists, which was about 33 million in the same year. Thousands of new hotel rooms across categories and price points are needed to cater to the ever growing tourist influx.
Looking at the increasing trend it is estimated that foreign Tourist arrival will increase to 2.5 million in next 3 years with an estimated shortfall of 36,000 rooms by the year 2021. Special Investment Sectors have been identified by the State Government in the field of Adventure Sports, Development of Spiritual Tourism also.
Looking at the immense potential of the Micro, Small and Medium Enterprises (MSME) there will be a dedicated conclave on the sector. At present more than 90% of industries in Rajasthan fall within the MSME category and employ approximately 18.7 lakh people.
As per the 4th All India Census of the Micro, Small and Medium Enterprises, total number of enterprises of the MSME sector is 361.76 lakhs and contributes to nearly 40% of the exports and nearby 8% of the GDP. For this reason, the MSME sector was also a focus area under the Prime Minister’s ‘Make in India’ campaign to promote domestic manufacturing.