Industries and Commerce Minister Col. Rajyavardhan Rathore leads investors’ roadshow in Singapore

Jaipur . Ahead of ‘Rising Rajasthan’ Global Investment Summit 2024, a high-level delegation led by Industries and Commerce Minister, Col. Rajyavardhan Rathore hosted Singapore Investor Meet and held meetings with several leading companies in the island nation today. The delegation impressed upon the investors and business leaders to visit Rajasthan and explore new business opportunities in the state. The investors were also apprised about the business-friendly policy decisions being taken by the government under the leadership of Hon’ble Chief Minister Shri Bhajan Lal Sharma.

Speaking at the investors meet, Col. Rajyavardhan Rathore, Industries and Commerce Minister, Government of Rajasthan said, “Singaporean companies can consider exploring the logistics sector of Rajasthan, as we have the western dedicated freight corridor passing through the state and 2 expressways – Delhi-Mumbai Expressway and Amritsar-Jamnagar Expressway. Land on either side of these two expressways are available for businesses. We have the sunshine, young population, bureaucratic support for the businesses, and political will to make things happen quickly. Decisions are taken quickly in the State. We are committed to bring investments in the State and more than doubling the economy of the state.”   

Addressing the investors at the roadshow, Shri Sudhansh Pant, Chief Secretary, Government of Rajasthan said, “A large number of MoUs related to the investments have already been signed since the investor meets have started and in the next few months, these investment intents will only intensify. We have invited Singapore to be a partner country of the investment summit. We want to implement the policy changes that have been promised and keep a tab on the economic development and that’s why the investment summit has been organised in the very first year of this government’s tenure.”

Ms. Gayatri Rathore, Principal Secretary (Medical & Health), Government of Rajasthan, while making a presentation at the Singapore Investor Meet, said that the State has a strong trade relation with Singapore and exports from Rajasthan have increased by 280% in last 4 years to the island nation. She also showcased the potential of the state and investment opportunities in various sectors of Rajasthan to the investor community during the presentation.

“We wish to leverage key strengths of Singapore like their strength in strategic sectors, cutting edge research and development capabilities, technological advancements and infrastructure expertise, so as to match our ambitions with them,” She further said.

Addressing the investors at the roadshow, Dr Shilpak Ambule, High Commissioner of India in Singapore, said, “Rajasthan is a unique state not just in terms of abundance of resources such as land & minerals but also due to the potential it offers to the investors across sectors. The range of subsidies and incentives on offer and proximity of the state with the national capital are some other factors that make the state an attractive investment destination.”

In an attempt to explore collaboration opportunities with Singapore’s leading industrial hubs, Col. Rathore-led delegation visited the Jurong Island Petrochemical Complex and visited the facility of PSA Horizons. 

At the Jurong Island Petrochemical Complex, the delegation was briefed on the complete value chain for downstream petrochemicals established at JTC and its emergence as Singapore’s major petrochemical processing and export hub. The delegation apprised JTC Corporation officials about the upcoming Rajasthan Petro Zone in Balotara and the state’s vast potential in the petrochemicals sector, encouraging collaboration opportunities with Rajasthan.

The discussions with the officials of PSA Horizons focused on potential collaboration opportunities related to developing Multimodal Logistics Parks (MMLPs) and Inland Container Depots (ICDs) to enhance Rajasthan’s multimodal transport infrastructure, particularly along the Dedicated Freight Corridor (DFC) and the Rajasthan Petroleum and Chemicals (RPC) corridor. The PSA Horizons’ officials were invited to explore the Jodhpur Pali Marwar Industrial Area (JPMIA) and the Khushkhera Bhiwadi Neemrana Investment Region (KBNIR) for potential collaborations.

The delegation also held a productive round of discussion with the representatives of Sembcorp – a global player in urban development and renewable energy based out of Singpaore – to explore investment opportunities in the state. With skill development and education tie-ups remaining a major focus of the Rajasthan government, the delegation held one-on-one discussion with ITE Education Services (ITEES), a wholly owned subsidiary of the Institute of Technical Education (ITE), Singapore. The delegation exhorted the officials of the ITEES to visit Rajasthan and collaborate in the sector of skill development. ITEES already has set up the World Skill Center in the state of Odisha and the North-East Skill Centre in Assam. Separately, the delegation held a round of discussion with the representatives of TVS Motor Company and invited the firm to explore new business opportunities in the state. 

Continuing the outreach with the Indian diaspora in general and Non-Resident Rajasthani (NRR) community in particular, the delegation also engaged with the members from the Indian diaspora at an event and appreciated the role played by the community in furthering the ties between India and Singapore. Col. Rathore-led delegation also exhorted the members of the NRR to become the bridge between foreign investors and their native state of Rajasthan. 

Besides the Industries and Commerce Minister, the delegation consists of Chief Secretary Shri Sudhansh Pant, Principal Secretary (Medical and Health) Ms. Gayatri Rathore and other senior officials of the Government of Rajasthan.

In the run-up to the ‘Rising Rajasthan’ Global Investment Summit 2024, the government of Rajasthan has planned to organize investors’ meets around the country as well as overseas. The domestic investors’ meets have already been organised in Mumbai and New Delhi whereas on the global front, the investors’ meets have so far been organised in South Korea, Japan, UAE and Qatar. The extensive outreach has resulted in Government of Rajasthan securing Investment proposals (MoUs) worth over INR 12.55 lakh crore so far, reflecting the resounding faith of the investor and business community in State’s efforts.

About the ‘Rising Rajasthan’ Global Investment Summit 2024-

The Government of Rajasthan, led by Hon’ble Chief Minister Shri Bhajan Lal Sharma, will be hosting the ‘Rising Rajasthan’ Global Investment Summit 2024 on 9th, 10th, and 11th December 2024 in the capital, Jaipur. The 3-day mega summit, which aims to attract and facilitate global investment, innovation, and partnerships in the state, is organized with the support of the Industry and Commerce Department, Bureau of Investment Promotion (BIP), and RIICO, with BIP serving as the nodal department for this summit. During the summit, special plenary sessions will be organised on different focus sectors, including Agriculture, Renewable, Education and Skilling, Auto and EV, Infrastructure, Chemical and Petro-chemical, Tourism, Startups, Mining and ESDM/IT and ITeS and others.

The Singapore leg of the investor roadshow is being organized in association with Indian High Commission in Singapore and Confederation of Indian Industries (CII), which is the summit partner of the ‘Rising Rajasthan’ Global Investment Summit 2024. PwC India is the knowledge partner of the summit.