The successful execution of all agreements and letters of intent (LoIs) signed during the Invest Rajasthan Summit, which was held in October of last year, has been demanded by a trade organisation located in Jaipur.
At the summit, there were roughly 4,190 MoUs and LoIs worth Rs 10.44 trillion. Mining and minerals, agriculture and agro-processing, tourism, textiles, engineering, chemicals and petrochemicals, health and medical, logistics, energy, and handicrafts were among the industries where the pacts were inked.
46 to 48 percent of the pacts have been executed or are in an advanced stage of implementation, according to a department of industries official.
Ashok Gehlot, the chief consultant for the All Rajasthan Trade and Industry Association (ARTIA), reportedly stated that flexible infrastructure should be created for enterprises. fostering industrialization, too. “It would only be feasible if all MoUs and LoIs signed during Invest Rajasthan were executed at a quicker rate.”
The investors requested land from the government in accordance with the guidelines, according to ARTIA’s Executive President Prem Biyani, but their papers are shifting between offices. Gehlot has been requested by the ARTIA officials to step in and set up a fast-track desk in the district industry officer’s office, and the district collector should visit this desk once per week. Additionally, it has demanded that the chief minister’s office be informed and that the status of each LoI be reviewed.
According to Ashish Saraf, the association’s chief patron, the industries make a significant economic contribution to Rajasthan. Its Gross State Value Addition (GSVA), which is always rising, is used to calculate contribution. GSVA was Rs 2.25 trillion in 2018–19; it rose to Rs 3.58 trillion in 2022–23. According to Saraf, the government should create a favourable investment environment to help the GSVA reach Rs 8–10 trillion by 2030.
