India has become a market that you can’t ignore: Global experts
India has become a market that you can’t ignore, pushed on by government reforms and a booming tech industry, top industry experts have said.
Chief Minister Bhajan Lal Sharma unveiled the Rajasthan Investment Promotion Scheme (RIPS) 2024 at the Rising Rajasthan Investors’ roadshow in London on Friday evening.
‘The RIPS-2024, a flagship programme of the state government, will provide a set of new incentives to investors for IT, Power, Logistics sectors and more additions on the list of new sunrise sectors’, Sharma has announced.
The scheme was recently approved by the state cabinet to attract investment for the Rising Rajasthan Global Investment Summit, which is scheduled to be held on December 9, 10 and 11.
Addressing investors at the roadshow, Chief Minister Sharma said, “We are eager to work closely with British companies to enhance Rajasthan’s manufacturing capabilities. We have a target of doubling state’s economy from $180 billion to $350 billion in the next five years.
The world-renowned expertise of the UK- based firms in Automotive, Electric Vehicles (EV), Design and Advanced Manufacturing will be immensely beneficial for all.
Deputy Chief Minister Diya Kumari, the High Commissioner of India to United Kingdom Vikram K Doraiswami and members of the government delegation were also present.
At the roadshow the delegation also signed MoUs with Indo-UK Institute of Health, Hindustan Silicon Resources Ltd, and ReNew Power in the respective sectors of Bio- medical waste treatment, defence, sports and renewable energy and storage.
Underlining the UK’s expertise in education and food-processing sectors, Deputy Chief Minister Diya Kumari said- “Our progressive policies have attracted substantial foreign direct investment, solidifying our position as a leading force in economic growth.
Together, we can unlock our State’s massive resources and write a new chapter in our history—a chapter defined by growth, innovation, and lasting success”, the Dy CM said.
The High Commissioner of India to the United Kingdom Doraiswami said, “We are elated to see the extensive outreach undertaken by the Government of Rajasthan before the investor summit. The Indian High Commission will be happy to connect the UK-based investors with the Government of Rajasthan officials.”
Meanwhile, furthering the task of investor outreach in the UK ahead of Rising Rajasthan Global Investment Summit 2024, the members of the official delegation held meetings with several British firms.
This includes meetings with the officials of National Institute for Health and Care Excellence (NICE) and visiting the campus of Imperial Innovation Hub – Scale Space, which is situated at the campus of London’s Imperial College.
During this visit the delegation also explored collaboration opportunities between Scale Space and the Rajasthan-based educational institutions, academia and industry partners.
The delegates held a meeting with the officials of Indo-UK Institute of Health (IUIH) – a UK-based charitable trust and Alpha Wave, a global investment company as well as with Sumant Sinha, Founder, Chairman and CEO of ReNew Power, an India-based renewable energy company yesterday evening.
During the meeting with IUIH, the charitable trust pledged to set-up a bio-medical waste treatment plant in Rajasthan and signed an MoU to this effect.
Earlier, during Germany visit, the delegation had signed MoUs with several German firms, including Albatross Projects, Flixbus, Partex NV, Veauli Techniks GmbH & Ingo Schmitz etc. The investment amount pledged under the banner of Rising Rajasthan Global Investment Summit 2024 so far has reached more than Rs 15 lakh.
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