Rathore-led delegation invites Singapore to become partner country for ‘Rising Rajasthan’ Global Investment Summit 2024

Jaipur : The Singapore investor roadshow and outreach with the global firms by a high-level delegation of the Rajasthan government, led by Industries and Commerce Minister Col. Rajyavardhan Rathore has built up the tempo for ‘Rising Rajasthan’ Global Investment Summit 2024. The delegation met with several Singapore-based companies, many of which expressed keen interest in collaborating with the state government and exploring business opportunities in Rajasthan.

This includes some of the leading Singaporean companies like Sembcorp, PSA Horizons, Surbana Jurong, ST Engineering, ST Telemedia, Mapletree Investments among others. The firms also requested Col. Rathore-led delegation to set-up a dedicated investment zone for Singaporean firms on the lines of Neemrana investment zone- specifically dedicated to Japanese investors.

The delegation held a productive discussion with Sembcorp – a global player in urban development, utilities and renewable energy based out of Singapore. The firm expressed interest to explore business opportunities in Rajasthan. PSA Horizons, which is a leading player in the logistics sector, expressed intent for a possible collaboration on developing Multimodal Logistics Parks (MMLPs) and Inland Container Depots (ICDs) in the State, while Singapore’s leading engineering and urban development consultancy firm Surbana Jurong expressed interest in offering consulting services for the upcoming developments of industrial parks in Rajasthan.

The delegation also discussed collaboration opportunities with the officials of Jurong Island Petrochemical Complex for the upcoming Rajasthan Petro Zone in Balotara, while the representatives of ST Engineering and ST Telemedia Global Data Centres evinced interest in exploring new business opportunities in the state. The officials of ST Engineering were keen on exploring opportunities in sectors like aviation MROs, while ST Telemedia Global Data Centre is looking to establish a colocation data centre in Jaipur. 

Mapletree Investments, a leading real estate developer expressed its interest in establishing a logistics centre in Rajasthan as it informed the delegation of its plan to expand its existing operations beyond Pune, Mumbai, and Chennai in India. In the area of skill development, the delegation exhorted the ITE Education Services officials to visit Rajasthan and collaborate in the upskilling sector.  

Speaking about the response from potential investors, Hon’ble Industries and Commerce Minister Col. Rajyavardhan Rathore said, “The purpose of organizing investor roadshows before the summit is demonstrated by the overwhelming response shown by the companies for new investment opportunities available in Rajasthan under the leadership of Honourable Prime Minister Shri Narendra Modi Ji. We also had a very productive discussion with the Singapore government entities that expressed willingness to share expertise in the areas of urban rejuvenation, public transport, water management etc. We’re leaving no stone unturned to make the upcoming ‘Rising Rajasthan ’Global Investment Summit 2024 a resounding success.”

Col. Rathore-led delegation’s visit in Singapore, that spanned over four days, had multiple meetings with both private players as well as Singapore government stakeholders. Col. Rathore held talks with key dignitaries of the Singapore government including Minister for Manpower & Second Minister for Trade and Industry Dr Tan See Leng and Senior Minister of State for Foreign Affairs Ms. Sim Ann and invited the Government of Singapore to participate as a ‘Partner Country’ in the upcoming Investment Summit. The delegation also sought their cooperation to facilitate investment in the state.

With urban transformation and sustainable development of Rajasthan high on government’s agenda, the delegation held talks with a number of Singapore government’s agencies, which are renowned world over for their innovation and technical expertise. This included holding meetings with Enterprise Singapore, Singapore Tourism Board, Urban Redevelopment Authority (URA), Public Utilities Board (PUB), Land Transport Authority (LTA), JTC Corporation among others. The discussions focused on potential collaboration to boost tourist inflow from Singapore to Rajasthan, the development of industrial parks in the state, and attracting Singaporean investors to Rajasthan’s economic landscape. Additionally, the talks covered Singapore’s progress towards a sustainable future, including advancements in water management, urban planning, and green public transport initiatives.

In an interaction with Enterprise Singapore, a statutory body under Singapore’s Ministry of Trade and Industry, the delegation asked the participating companies to consider Rajasthan in their investment and expansion plans. Several leading Singaporean companies were part of this meeting, including Sembcorp, DP Urban, EnvironSens among others. During its visit to the island nation, the delegation also touched base with some other big names Blackstone Singapore, DBS Bank and TVS Motor among others.

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

The Government of Rajasthan has planned to organize investors’ meets around the country as well as overseas before the investor summit. 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, Qatar and Singapore. The extensive outreach has resulted in Government of Rajasthan securing Investment proposals (MoUs) worth over INR 12.75 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 was organized in association with Indian High Commission in Singapore and Confederation of Indian Industries (CII), which is the summit industry partner of the ‘Rising Rajasthan’ Global Investment Summit 2024. PwC India is the knowledge partner of the summit.