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Rising Rajasthan Global Investment Summit
Daily Bulletin # 2 | December 10, 2024
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Pravasi Rajasthani Conclave
The second day of the Rising Rajasthan Global Investment Summit celebrated the contributions of Rajasthan's diaspora in driving the state’s growth. Chief Minister Bhajanlal Sharma declared that the state government would celebrate Pravasi Rajasthan Day every year on December 10. Additionally, the Chief Minister announced the establishment of a dedicated department for Non-Resident Rajasthanis in the state. Col Rajyavardhan Singh Rathore, Minister of Industry and Commerce, highlighted Rajasthan’s transformation with a “red-carpet” approach to ease of doing business, supported by the 6Ds—Democracy, Demography, Data-driven growth, Demand, Delivery, and Decisive leadership. He urged the diaspora to collaborate with local industries, leveraging their technologies to tap into India’s expansive markets.
The Chief Minister further announced a single point of contact for the diaspora, reaffirming December 10 as Pravasi Diwas to honour their invaluable contributions.
The Governor of Sikkim, Om Mathur, reiterated, “Embracing ‘Vocal for Local,’ as earlier mentioned by Prime Minister Modi, further mentioning, Rajasthan is strengthening its economy by promoting local industries, supporting artisans, and fostering homegrown businesses, paving the way for sustainable growth and global recognition.”
Among the pravasi's Nirmal Sethia of N. Sethia Group applauded Rajasthan’s culture, hertiage and its people for courage and resilience, while Ashok L. Odhrani, Chairman of Supertech Group, proposed an investment park modelled on UAE’s incentivised system for giving boost to Rajasthan’s tourism and manufacturing potential. Binod Kumar Chaudhary, Chairman of Chaudhary Group praised Rajasthan’s progress in hospitality sector especially, having launched 124 hotels in the state already and laid his weight behind Rajasthan becoming an economic powerhouse of the country. Similarly, Ajay Piramal, Chairman of the Piramal Group, stressed the importance of balancing economic and social investments to uplift Rajasthan’s Human Development Index.
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U.S. Country Session on Manufacturing and Supply Chains
“Among many other factors, one significant aspect of the US-India partnership is the people-to-people connections. We have the added advantage of a vibrant diaspora. We saw this during the 123 US-India nuclear deal, where the involment of this dispora influenced considerable effort that went into it”, said Pradeep S. Mehta, Secretary-General of CUTS International, he also highlighting Rajasthan’s emerging role as a defence manufacturing hub. He emphasised the need for increased research investment and better management of intellectual property, noting that India now produces 65 percent of its defence requirements domestically—a significant improvement. He highlighted the state’s advantages for SME development and export growth.
The session focused on fostering collaboration between India and the USA across key sectors such as defence, manufacturing, supply chains, and sustainability.
Modera“Among many other factors, one significant aspect of the US-India partnership is the people-to-people connections. We have the added advantage of a vibrant diaspora. We saw this during the 123 US-India nuclear deal, where the involment of this dispora influenced considerable effort that went into it”, said Pradeep S. Mehta, Secretary-General of CUTS International, he also highlighting Rajasthan’s emerging role as a defence manufacturing hub. Furthermore, he emphasised the need for increased investment in R&D and better management of intellectual property, noting that India now produces 65 percent of its defence requirements domestically—a significant improvement. He also highlighted the state’s advantages for SME development and export growth.
Gaurav Rungta, former Chairman of CII, moderator of this session underscored Rajasthan’s strategic location, rich cultural heritage, and growing economy, positioning the state as a prime investment destination. Chandrakant Salunkhe, President of the India-US SME Business Council, discussed opportunities for SMEs in contract manufacturing and bilateral collaborations between India and the USA.
Rajendra Singh Bhatia, Chairman of Kalyani Strategic Systems Limited and President of Society of Indian Defence Manufacturers mentioned that despite the state having the longest international border boundary, highest number of test ranges and land of entrepreneurs yet the defence manufacturing ecosystem is lacking with no major defence production.
Similarly, Gajendra Singh, serving Cabinet Minister of the Medical & Health Department in the Government of Rajasthan, Sanjay Srivastava, Strategic Advisor and former CEO of Mahindra World City, and Partha P. Roy Chowdhury of Lockheed Martin said Rajasthan provides ideal location and its craftemen work all over the world, it has to leverage these aspects in order to become a manufacturing hub.
The session concluded with a call to action for leveraging existing resources and expertise to drive growth and innovation, reinforcing Rajasthan’s position as a hub for manufacturing, defence base, and sustainable development.
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Indo-German Cooperation in Renewable Energy Sector
This session shed light on significant opportunities in renewable energy sector. Jogaram Patel Cabinet Minister as Parliamentry Affairs and Justice Department of Rajasthan chaired the session, whereas as Arti Dogra IAS officer, and Dr Stephan Hasselman Economic Councellor, Embassy of Germany shared their insights.
The talk included discussion on 'Green Hydrogen Roadmap' and increased trade reaching US$26.4bn. Also, support for Rajasthan's proactive renewable energy policies which aim for 90 GW capacity generation by 2030, specially in solar and wind energies.
Germany’s US$14.5bn cumulative FDI in India and investments in green sector underscores its role in India's renewable energy transformation. The state's strengths, such as high solar energy potential and strategic location, position it as a hub for Indo-German collaboration.
Also, discussed the economic and technical feasibility of renewable projects, highlighting the drastic drop in solar energy production and procurement costs. The event showcased the necessity for sustainable financing, with Germany's green hydrogen expertise complementing India’s renewable ambitions.
Future cooperation could focus on transparent ecosystems, long-term financing, and advanced technologies. The session underscored the transformative potential of this partnership, with Germany offering advanced engineering and India contributing resources, labour, and scalable solutions, fostering global renewable energy leadership.
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A Singaporean Perspective on Rajasthan as a Potential Investment Destination
The Rising Rajasthan Investment Summit showcased Rajasthan’s significant potential as an investment destination, particularly in collaboration with Singapore, a major source of Foreign Direct Investment (FDI) in India. Rajasthan’s strategic location between Delhi and Mumbai, along with its vast availability of land and the country’s largest solar park, underscore its competitive edge. The state excels in renewable energy, boasting 51 GW of solar power and substantial wind energy capacity. Its connectivity infrastructure includes the second-largest rail network, third-largest road network, seven airports, and proximity to ports, enhancing its appeal for investment across diverse sectors.
Rajasthan offers numerous opportunities in logistics, warehousing, tourism, real estate, skill development, and healthcare. The state’s ambitious health insurance program makes healthcare investment particularly attractive. With its rich cultural heritage and abundant wildlife, Rajasthan also presents opportunities for tourism ventures such as resorts and eco-tourism. Recent engagements with Singaporean stakeholders have opened the door for partnerships in industrial parks, multimodal logistics, skill development, and digital technology, including data centres. The state government’s commitment to creating a conducive business environment, supported by central policies, ensures streamlined execution and enhanced investor confidence.
In summary, Rajasthan stands out as a prime investment destination, offering vast resources, a skilled workforce, and forward-looking policies. Its promising future holds immense returns for investors, fostering both economic development and sustainable growth.
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EduRevolution: Bridging Education and Opportunities
The thematic session highlighted Rajasthan’s progress in education. Minister of School Education and Panchayati Raj, Madan Dilawar, emphasised inclusive education by integrating cultural heritage, local language learning, and initiatives for nomadic children. He highlighted efforts like free education, bicycles for girls, and tablets for meritorious students.
Minister of Higher and Technical Education, Premchand Bairwa, discussed aligning education with industry demands, emphasising the state’s commitment to fostering innovation and skilling initiatives to empower students as job creators. Dr Arushi Malik, Secretary of Higher & Technical Education, highlighted that 85 percent of Rajasthan's 23 lakh higher education students are served by government institutions.
Prof. Avinash Kumar Agarwal, Director, IIT Jodhpur, stressed experiential learning, internships, and local language education. Soren N. Kannik-Marquardsen, Minister Counsellor Trade, Commercial & Economic Affairs, Denmark Embassy of India, shared Denmark’s model of continuous upskilling and flexible education systems.
Rajasthan’s education reforms, supported by the Rajasthan Investment Promotion Scheme (RIPS), aim to build a globally competitive, future-ready education system.
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Startup Secrets from India's Tech Titans
Ritesh Agarwal, the CEO of OYO, opened the session and emphasised the significance of having a clear purpose before starting a business, as it is crutial for long-term sucess in the market. He also highlighted that a unique idea and passion for one’s work are key factors for sustaining and excelling in a competitive environment. Additionally, he underscored the necessity of integrating technology into every business, as it has become indispensable for survival in today’s digital marketplace.
Putting his views, Vijay Shekhar Sharma, the CEO of Paytm, highlighted that the primary differentiating factor in every startup or business is the extent to which technology is utilised. He emphasised that if a startup does not aim to streamline or eliminate manual workflows, it is unlikely to survive beyond five years. He further noted that, in today’s era, artificial intelligence (AI) is capable of performing many tasks traditionally carried out by humans, making it imperative for businesses to adapt and innovate accordingly.
Amit Jain and Anurag Jain, the founders of CarDekho, shared their success stories and explained why they chose to establish their business in Rajasthan. They highlighted that the cost structure in Rajasthan is economical and that the state’s unique culture sets it apart from others. They emphasised the importance of self-competition, urging entrepreneurs to focus on their work and products to meet consumer needs effectively. They also advised consistently improving products to surpass competitors.
Chair of the session, Rajyavardhan Singh Rathore remarked, "We must first invest in our dreams before investing in our teams." He also expressed that he believes in continuous improvement and regular practice are the keys to achieving success.
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Session on Infrastructure: An Important Link in Supply Chain
The “Infrastructure: An Important Link in the Supply Chain” session at the Rising Rajasthan Global Investment Summit 2024 emphasised the critical role of improved infrastructure in enhancing logistics efficiency and sustainability. Union Minister Shri Nitin Gadkari announced approval for key road projects in Rajasthan, such as the Northern Jaipur Wing Road, under the leadership of Chief Minister Shri Bhajan Lal Sharma. This development aligns with Prime Minister Shri Narendra Modi’s vision for robust infrastructure across India. The session brought together industry leaders, including CM Sharma, Deputy CM Ms. Diya Kumari, Dr. Premchand Bairwa, and other ministers, who discussed sustainable expressways, logistical enhancements, and the development of industrial zones near transport networks to boost operations and economic growth in the state. The session highlighted Rajasthan’s proactive steps towards creating a well-connected road network, fostering economic progress, and aligning with the national infrastructure agenda.
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Session on Sustainable Finance: Public and Private Investment
Debasish Prusty, Secretary, Finance (Budget), Government of Rajasthan, set the tone for an important discussion on sustainable finance during the session, presided over by K. K. Vishnoi, Minister of State for Industries, focused on the growing importance of sustainable finance in achieving Net Zero targets, addressing climate change, and aligning with the Environmental, Social, and Governance (ESG) framework. Discussions highlighted Rajasthan’s potential for green projects, renewable energy initiatives, and sustainable development pathways. Vishnoi emphasised the state’s progress in renewable energy development under Chief Minister Sharma, noting priorities such as battery storage, smart grids, green hydrogen, and green ammonia. The session reinforced Rajasthan’s commitment to sustainable growth through innovative financing and strategic partnerships, positioning the state as a leader in sustainable development.
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FutureCare: Transforming Healthcare through Innovation
Gayatri Rathore Prinicipal Secretary, Medical and Health, GoR highlighted the state's innovative efforts to revolutionise healthcare, focusing on reducing maternal and infant mortality, achieving universal health coverage, and addressing lifestyle diseases. Key strategies include leveraging AI, telehealth, and blockchain technology for enhanced medical practices and secure health data. For instance, Rajasthan has created 4.52 crore Ayushman Bharat digital health IDs and aims to integrate private and public healthcare sectors for a comprehensive digital health system.
She added, skill development is a priority, with plans to establish centres of excellence to train healthcare professionals for domestic and international demand. The state is also promoting medical value travel, capitalising on affordable surgical procedures and tourism. The BHIM Yojana health insurance scheme has benefited 16.7 lakh people in 2024, showcasing Rajasthan's commitment to affordable healthcare.
Challenges like resistance to new technologies, regulatory issues, and the need for capacity building were acknowledged. Strategies include fostering socially conscious innovations, enhancing operational efficiency, and leveraging wearable technologies, robotic surgeries, and AI for early diagnosis and patient monitoring.
The summit emphasised partnerships, sustainable practices, and innovation platforms to address global health challenges and promote research. Rajasthan's healthcare vision aligns with the UN Sustainable Development Goals, aiming to make healthcare accessible, affordable, and technologically advanced while ensuring quality care for all. The session concluded with a call for collaborative efforts to drive healthcare transformation.
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Agri-Business Innovations: Moving up to the value chain
Shivraj Singh Chouhan, Minister of Agriculture and Farmers Welfare of India stated that CM Sharma's team is working towards creating a new Rajasthan. He emphasised India's tradition of Atithi Devo Bhava, reflecting the hospitality extended to investors visiting the land of Rajasthan. Addressing the investors, he remarked, "Agriculture is the backbone of everything. India's prosperity lies in agriculture, as it is the farmer who fuels the operations of traders, shops, and factories, ultimately creating jobs." He highlighted that increasing agricultural production is a primary goal requiring quality seeds. To this end, 109 seed varieties have been developed, including a special paddy seed that requires less water—an innovation particularly significant for Rajasthan. He mentioned that the Kisan Samman Nidhi initiative was introduced to ensure the timely availability of seeds and fertilisers for farmers. He also underscored the importance of food processing in the Rising Rajasthan initiative and encouraged investors to collaborate with CM Bhajanlal Sharma or approach the central government to explore opportunities in this sector.
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