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“There is immense scope for investment”

JAIPUR: The much hyped partnership summit, “Resurgent Rajasthan”, being staged here for two days this weekend, would test the State’s capacity to attract investments under its “improved status” as an investment destination. The summit, partnering the Federation of Indian Chambers of Commerce and Industry (FICCI), is in a way a test of Rajasthan’s industrial investment potential after four years of the BJP-led government here.

“The scope for investment has increased tremendously in the State with the efforts made by the Government during the past few years. Yet a big gap exists between the potential and the real investment taking place,” State Chief Secretary D.C. Samant told journalists here. “Considering its strategic location near the national Capital and better infrastructure than any other northern Indian State, Rajasthan has been receiving less than what it really deserves.”

Mr. Samant and other senior officials who addressed the press conference were reluctant to make any claims on the quantum of business at the summit. “We don’t want to make any early claims but the Chief Minister wants memorandums of understanding and letter of intent worth at least Rs.40,000 crore signed at the summit,” he revealed.

“The State has been growing at a rate of 8-9 per cent which has triggered off a lot of economic activity, investment in real estate, buying and selling and local production,” Mr. Samant said.

The investors would find the passage of the proposed 1,500 km Delhi-Mumbai Industrial Corridor through Rajasthan and improvements in power and infrastructure good reasons to invest here.

The present summit is based on the premise that the State Government’s strategy to develop physical infrastructure and human resources and to encourage public private participation has shown results with investors from within the country and abroad taking a high level of interest in starting any economic activity here. Bureau of Investment Promotion chairman Umesh Kumar said as many as 12,000 business houses were contacted in the process of preparing for the event.

Chief Minister Vasundhara Raje will inaugurate the summit on Friday at the Birla Auditorium here while K.V. Kamath, Managing Director and CEO of ICICI Bank, will deliver the keynote address.

Those who would chair the sessions on investment opportunities include Anil Agarwal, chairman of Vedanta group; M. Takedagawa, president of Honda Siel Cars India Limited; Jyotsna Suri, chairperson of Bharat Hotels; Shivendra Mohan Singh, Managing Director of Fortis Health Care; and Ravi Parthasarathy, chairman, IF& FS.

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