India (Commonwealth Union)_ The Rising Rajasthan Global Investment Summit, inaugurated by Prime Minister Narendra Modi on December 9, has garnered global attention with its bold vision to significantly boost Rajasthan’s economy and create ample job opportunities. Running until December 11, the summit is a key event aimed at attracting substantial investments across various sectors of the state. In his inaugural address, Prime Minister Modi emphasized India’s growing appeal as a global investment hub, highlighting the country’s remarkable economic progress. “India’s economic success is a true testament to the power of democracy, demography, digital data, and delivery,” said Modi. The prime minister’s remarks aimed to reinforce the message that India, and by extension, Rajasthan, provides an optimal environment for foreign investments.
Also read: Elon Musk’s chilling prediction about Singapore is a warning for the entire world!
The inauguration of the summit
The summit, which features a diverse array of sessions and discussions, has attracted top industrialists, investors, and Rajasthan’s vibrant diaspora. With representatives from 32 countries in attendance, the event is also a significant platform for promoting Rajasthan’s business-friendly environment. Chief Minister Bhajan Lal Sharma, in his speech, outlined an ambitious target for the state: doubling its Gross State Domestic Product (GSDP) to $350 billion in the next five years. Furthermore, several key industrialists were present at the summit, including Vedanta Group Chairman Anil Agarwal, Aditya Birla Group Chairman Kumar Mangalam Birla, Mahindra and Mahindra Chairperson Anand Mahindra, and Adani Ports Managing Director Karan Adani. These leaders took the stage to discuss their ongoing and future investments in Rajasthan, underscoring the state’s growing economic potential.
Also read: India’s internet under threat after Bangladesh cancels major deal!
The summit’s theme, “Replete, Responsible, Ready,” encapsulates the state’s commitment to sustainable growth. Additionally, the summit will host 12 thematic sessions on critical sectors such as water security, sustainable mining, inclusive tourism, agri-business innovations, and women-led startups. Alongside these discussions, eight country sessions will explore investment opportunities in collaboration with international participants. Notable events like the Pravasi Rajasthani Conclave and the MSME (Micro, Small, and Medium Enterprises) Conclave will also focus on fostering global partnerships and strengthening the state’s industrial base.
Also read: Bill Gates under fire for controversial comments on India!
PM Modi highlights Rajasthan’s strengths
Prime Minister Modi took the opportunity to outline the many advantages that make Rajasthan an attractive investment hub. As the largest state in India by area, Rajasthan offers a wealth of natural resources, including significant reserves of zinc, lead, copper, limestone, granite, and potash. Furthermore, Rajasthan’s unique geographical location and rich cultural heritage offer it a competitive advantage in both the industrial and tourism sectors. Rajasthan is also a key player in India’s renewable energy sector, with some of the country’s largest solar parks located in the state. PM Modi also underscored Rajasthan’s role in helping India achieve its target of 500 gigawatts of renewable energy capacity by the end of this decade, further boosting its significance in the nation’s energy security.
Promising tourism sector
Rajasthan’s tourism sector has been a shining success story, particularly post-COVID. Modi praised the state for its resilience during the pandemic, noting that despite global setbacks, India’s domestic tourism sector, especially in Rajasthan, has rebounded strongly. “Today, India’s domestic tourism is setting high standards, and Rajasthan has been a major beneficiary of this growth,” the Prime Minister stated. Modi further boosted the tourism sector by introducing the ‘Wed in India’ initiative, aimed at attracting destination weddings to Rajasthan, thereby enhancing its tourism appeal. He praised the state as the leading wedding destination in India, which continues to captivate millions of visitors each year with its rich heritage and world-renowned attractions.
Growing manufacturing and MSMEs
Prime Minister Modi also spotlighted Rajasthan’s growing manufacturing sector and the significant potential for further expansion. He noted that India’s ‘Make in India’ initiative has positioned the country as a global hub for low-cost manufacturing, with Rajasthan playing a key role. “Rajasthan alone accounts for exports worth ₹84,000 crore, and this has been facilitated by the government’s Production Linked Incentive (PLI) scheme,” Modi explained. Furthermore, the state’s MSME policy, aimed at strengthening the industrial base, has created numerous growth opportunities, with small and medium enterprises now playing a pivotal role in Rajasthan’s economic transformation.
Rajasthan – the future investment hub
As the summit progressed, Prime Minister Modi called on both domestic and international investors to explore the vast potential of Rajasthan. He urged attendees to tap into the state’s diverse economic sectors, ranging from tourism to manufacturing and from food to culture. “Rajasthan has immense untapped potential, and it will continue to set new benchmarks for development,” he concluded. The Rising Rajasthan Global Investment Summit, with its focus on sustainable growth, job creation, and sectoral innovation, has firmly established the state as a critical player in India’s economic future. With the backing of both national leadership and the private sector, Rajasthan is poised to become a top investment destination in the coming years.
