Rajasthan Approves 32 Investment Proposals worth Rs 1.42 lakh Crore | 03 Oct 2022

Why In News?

• On October 2, 2022, Rajasthan Chief Minister Ashok Gehlot approved a customized package to 32 projects to encourage investment of over Rs 1.42 lakh crore in the state at the third meeting of the Board of Investment at the Chief Minister's residence.

Key Points

• The Chief Minister directed the department to prepare for the Invest Rajasthan Summit and said that this summit will play an important role in the industrial development of the state. This will create employment opportunities for more than 32 thousand people in the state.
• Proposals approved in the meeting mainly include Azure Power Pvt Ltd in Renewable Energy Sector, Renew Power Pvt Ltd etc., Asahi India Glass Ltd in Plastic and Glass Manufacturing, Hero Electric Vehicles in Electric Vehicle Sector, Okaya EV Pvt Ltd in addition to Textiles, Mines. And the projects in Minerals, Pood & Beverages, Hospitality, Cement, Auto & Auto Components and Agriculture & Agro Processing have been approved by the Board.
• Chief Minister Gehlot said that the state government has implemented many important policies and programs to increase investment, such as MSME Policy-2022, Handicrafts Policy-2022, Tourism Promotion Policy-2022, Rajasthan Investment Promotion Scheme (RIPS-2019), Rajasthan Industrial Development Policy-2019 And many facilities are being provided to the investors through the One Stop Shop System.
• Due to the industrial policies of the state government, proposals of big international companies to set up industrial units in the state are constantly being received. This will further strengthen the industrial development of Rajasthan.
• Chief Minister Shri Gehlot directed to study the possibilities of development of cement industry in Jaisalmer division. It is noteworthy that there are enough raw materials, such as limestone, etc. available for the cement industry in this area.