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Friday September 28, 03:15 PM
Rajasthan Seeks Investment from Mumbai; 'Resurgent Rajasthan’ Road-Show in the City |
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Mumbai, Maharashtra, India, Friday, September 28, 2007 -- (Business Wire India) -- -- Focus sectors: Infrastructure, Education & HRD, Automobile Manufacturing, IT & ITES, Healthcare, Tourism & Heritage Conservation
-- Fresh corpus of Rs 100 crore made for Rajasthan Venture Capital Fund
-- Rs 40,000 crore of fresh investments expected to follow investment summit
Rajasthan's Minister of Industries, Mr Narpat Singh Rajvi called on investors in Mumbai and Maharashtra to come and invest in Rajasthan. The minister invited industrialists and investors to participate in the 'Resurgent Rajasthan' summit to explore and take advantage of the wide range of business opportunities in the state.
The 'Resurgent Rajasthan' summit will be held in Jaipur over two days, on November 30 and December 1, 2007, in association with Federation of Indian Chambers of Commerce and Industry (FICCI). A delegation of senior officials from the Rajasthan government, led by the minister made this announcement in Mumbai today.
Speaking on the occasion, Mr Rajvi said, "Our state offers favourable economic conditions, a large market and improving infrastructure. In the last few years Rajasthan has emerged as one of the fastest growing states in the country. In the year 2006-7, our economy grew by 8 per cent. There has been significant growth in development of infrastructure, power, roads, transport and human capital, some essential pre-requisites for investors. We have given high priority to development in all these key sectors to ensure that the environment is conducive for growth, to effectively support investments and facilitate business opportunities. With the strengthened road and power infrastructure, Rajasthan is set to launch into a higher growth orbit.
"Rajasthan stands right in the middle of the proposed Delhi-Mumbai industrial corridor. Mumbai based companies planning to expand would benefit immensely from setting up business in Rajasthan. Not only will they get a favorable economic climate, they will also have faster access to a vast pool of work force and the rapidly growing market in the National Capital Region.
"We offer efficient and quick facilitation process for investors. Already, companies such as Wipro (WIPRd.BO, news) , Infosys, ITC (ITCd.BO, news) , Reliance (RELI.BO, news) , Mahindra Group, Nagarro and Gujarat Ambuja have set up big industrial and ITES units. Investments over Rs 35,000 crore are being lined up to set up SEZs. Garment, cable, auto and cement sectors are also showing phenomenal growth," Mr Rajvi added.
The ‘Resurgent Rajasthan’ summit offers participants an opportunity to explore exciting business prospects in the state, including infrastructure development. This is consistent with the Rajasthan government's vision for 360-degree development, a vision that has enabled the state to emerge as one of the fastest growing states in India.
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The Summit will include a variety of workshops and business sessions for participants, with a focus on building business relationships and on new business opportunities in the state. The summit will provide an excellent platform for investors, business leaders and entrepreneurs to network, exchange ideas and participate in one-to-one discussions with senior officials of the Rajasthan Government.
Rajasthan is well on its way to becoming a hub of business opportunities for people from both within the country and across the world, setting new benchmarks in public-private partnerships and development plans. The state offers a peaceful and highly conducive work environment and possesses huge potential for industrial development. The ‘Doing Business in South Asia 2007’ report brought out by the World Bank on the business climate in 12 major cities in India ranked Jaipur in third place, just behind Hyderabad and Bangalore.
Rajasthan has been upbeat on the auto sector in the last few years. The Bhiwadi industrial area in the state is already home to about 70 auto component units including prominent players like Caparo Fasteners, Climate System, Federal Mogul Goetze, Hi-Tech Gear, Ocap Chassis, Amtek India, Balkrishan Tyres, and Continental Engines, amongst others. RIICO has already provided about 600 acres of land to Honda Siel (HOND.BO, news) Cars India Ltd (HSCIL) to set up its second manufacturing plant in May this year.
The state has made a significant progress in the areas of ‘Venture Funds’. Rajasthan Venture Capital Fund (RVCF) one of the three best state capital funds, expanding the corpus to Rs 100 crore this year. The fund caters to the investors across India who are keen to start a venture in Rajasthan. The state offers vital infrastructure, an enabling policy environment and competitive advantages over other states, which together create an environment conducive for investment and growth.
About Rajasthan State Industrial Development & Investment Corporation Ltd. (RIICO)
Since its inception in 1969, RIICO has emerged as a multi-faceted and dynamic institution. It has kept pace with the industrialization process in providing complete and innovative means of financial and investment support services.
RIICO is also the sole government agency in the State involved in development of land for industrial enterprises. Large, medium and small scale projects get an easy access to a ready-to-use base with supportive infrastructure facilities in the industrial areas, developed and managed by RIICO. The financial and vital infrastructural facilities provided by RIICO have contributed towards accelerated growth of the industrial sector in the State.
About Bureau of Investment Promotion (BIP)
The Bureau of Investment Promotion (BIP) is the nodal agency that promotes the establishment of industrial units in the state. BIP assists in every possible way, right from project conceptualization to its final implementation. BIP provides investment support by acting as a single-point interface with all government departments. BIP ensures that all the clearances and incentives are provided to industrial units within the prescribed time schedule.
Media contact details
Sunil Gupta,
Rajasthan State Industrial Development and Investment Corporation (RIICO),
+91 (0141) 415113210,
sunilgupta@riico.in
Hemchandra Shetty,
Rajiv Desai & Associates Pvt. Ltd,
+91 9821412356,
hshetty@comma.in
Abhishek Mahapatra,
Rajiv Desai & Associates Pvt. Ltd,
+91 9811667727,
amahapatra@comma.in
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