It’s raining investments in Rajasthan as big brands get busy in the state

Jaipur, May 1 : Its raining investments in Rajasthan as industrial bigwigs from diverse segments including automotive, agro-processing, textiles, pharma, energy, glass & ceramics, engineering and cement are making a beeline to invest here.

A new ceramic hub is on the anvil in Bikaner district while Alwar’s Bhiwadi will emerge as the biggest spectacle manufacturing hub.

Recently, Chief Minister Ashok Gehlot announced the approval of investment proposals worth Rs 71,486 crore.

According to him, “Many big industrial players are now attracted towards Rajasthan due to the state government’s favourable industrial policy. These investments will further strengthen the industrial development in the state and will generate more than 26,000 jobs,” he said.

Senior officials confirmed to IANS that industrial bigwigs are attracted to Rajasthan due to the benefits being offered under the Rajasthan Investment Promotion Scheme (RIPS)-2019. This policy was launched in December 2019 to provide attractive benefits to the manufacturing and service sectors. The policy has now started paying dividends as companies including Karajaria Bathware, Saint Gobain India, Hero Electric Vehicles, Okaya, Lenskart Solutions, Kajaria Ceramics, Honda Cars and others have shown interest in starting their operations in Alwar district.

Jaipur district has also attracted the interest of around 7 companies including JCB, Indo Autotech, Opal Glassware and Borosilicate Glassware, Wipro Hydraulics, Emami Agrotech, and Renew Power among others.

Investments are pouring into the sectors such as Automotive, Agro-processing, Textile, Pharma, Energy, Glass & Ceramics, Engineering and Cement, said officials adding that new hubs are coming up in Alwar, Bhilwara and Western Rajasthan.

Hero Electric Vehicles will be investing around Rs 1,240 crore in the state, while investment by Honda Cars is around Rs 1,595 crore, Saint Gobain will invest more than 2,160 crore, Borosil Glassware will invest around Rs 250 crore, Okaya will invest over Rs 120 crore in electric vehicles, Krish Pharma shall invest around Rs 336 crore, Lenskart will invest approximately Rs 400 crore, Renew will invest approximately Rs 500 crore and HPCL Mittal Energy Limited will invest Rs 19,000 crore among others.

Meanwhile, the Chief Minister has also directed the officials to prepare a feasibility report on setting up a Ceramic Hub in Bikaner division as there is ample availability of raw materials for the industry. He has directed the officials to look into the possibility of setting up a Gas Grid in the area.

Going further, officials confirmed that Bhiwadi (Alwar) will soon become a hub for manufacturing spectacles, frames, prescription lenses, powered sunglasses, contact lenses and lens solutions as Lenskart Solutions Pvt Ltd will be setting up a manufacturing unit in Kahrani Industrial Area to manufacture around 50,000 spectacles per day.

Rajasthan is also shining brighter in the Solar Energy Sector, superseding Karnataka.

The state is attracting sizeable investments in the Renewable Energy Sector as Rajasthan ranks first in the country overtaking Karnataka with 8,911 MW installed capacity in solar power projects, said officials.

The state is holding a ‘Invest Rajasthan’ Summit 2022 from October 7-8 this year aimed at fulfilling the vision to make Rajasthan the most preferred investment destination in India with the most conducive ecosystem for inclusive, balanced and sustainable industrial development.

Speaking to IANS, state industries minister Shakuntala Rawat said, “We are working on an action plan to bring the investment proposals received in the districts on the ground. Investors have shown wide interest in many districts and we want to create a new growth story in this desert state.”