Rajasthan minister leads investors’ roadshow in Singapore

Singapore, Oct 8 (IANS) Ahead of the ‘Rising Rajasthan’ Global Investment Summit 2024, a high-level delegation led by Industries and Commerce Minister, Rajyavardhan Rathore hosted the Singapore Investor Meet and held meetings with several leading companies in the island nation on Tuesday. 

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 of the business-friendly policy decisions being taken by the government under the leadership of Chief Minister Bhajan Lal Sharma.

Speaking at the investors' meet, Rajyavardhan Rathore 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 is 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 bringing investments in the State and more than doubling the economy of the state.”

Addressing the investors at the roadshow, Rajasthan Chief Secretary said that 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.

Rajasthan Principal Secretary (Medical & Health), 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 per cent in the 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.

Addressing the investors at the roadshow, Shilpak Ambule, High Commissioner of India in Singapore, said that Rajasthan is a unique state not just in terms of abundance of resources such as land and minerals but also due to the potential it offers to the investors across sectors.

He added that the range of subsidies and incentives on offer and the proximity of the state to 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, the 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 Singapore - 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 discussions 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 discussions 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 the 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. The delegation also exhorted the members of the NRR to become the bridge between foreign investors and their native state of Rajasthan.

In the run-up to the ‘Rising Rajasthan’ Global Investment Summit 2024, the government of Rajasthan has planned to organise investor 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 the Rajasthan government securing Investment proposals (MoUs) worth over INR 12.55 lakh crore so far, reflecting the resounding faith of the investor and business community in the State’s efforts.