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Issue #03 | September 2024
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ROJGAR September edition
Rajasthan is rapidly gaining traction as a key market, highlighted by Amazon India's recent recognition of Jaipur's growing digital adoption and consumer demand. This surge reflects strong business operations in the region. Complementing this growth, the Rajasthan government has embarked on ambitious plans to establish 14 new industrial areas ahead of the 'Rising Rajasthan' Global Investment Summit, further solidifying the state's commitment to fostering an investment-friendly environment.
Chief Minister Bhajan Lal Sharma's international investors' meet in Seoul marked the state's proactive outreach to global markets. With MoUs worth Rs 12.5tn signed in roadshows in Mumbai and Delhi, Rajasthan is positioning itself as a top investment destination. The government's efforts to cut red tape and improve ease of doing business are central to this strategy, aiming to double the state's GDP from Rs 15 lakh crore to Rs 30 lakh crore over the next five years. In addition, a Film City near Jaipur, with a Rs 500 crore investment, is set to boost the state's media and entertainment sector.
Meanwhile, India's Global Capability Centres (GCCs) continue to thrive, with Bengaluru leading in Banking, Financial Services, and Insurance (BFSI) talent, followed closely by Hyderabad. The expansion of GCCs is expected to generate up to 28 lakh jobs and revenue by 2030, solidifying India’s role as a global hub for tech and finance talent. Rajasthan, by looking towards the East, particularly Japan and South Korea, has made a smart move to diversify its investment portfolio, fostering long-term growth across various sectors.
As Rajasthan gears up for the 'Rising Rajasthan' Global Investment Summit from 9th-11th December 2024, it is clear that these combined efforts will enhance the state's industrial landscape and drive economic prosperity.
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“निवेश प्रतिस्पर्धा में टिकने के लिए उठाने होंगे ठोस कदम”
17/09/24 Dainik Bhaskar (Print Edition) - An Article by Mr Pradeep S Mehta, Secretary General CUTS International
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राजस्थान में निवेश को आकर्षित करने और औद्योगिक विकास को गति देने के लिए राज्य और निवेशकों को कथनी और करनी के अंतर को घटाने के प्रयास करने होंगे। निवेशकों की विश्वास को बनाए रखने के लिए पिछले समझौता ज्ञापनों से सीखे गए सबक पर श्वेत पत्र जारी करना महत्वपूर्ण है। इसके साथ ही, बीआरएपी रैंकिंग में सुधार, उचित मूल्य पर भूमि, पानी और बिजली की उपलब्धता सुनिश्चित करना, और निवेशकों की शिकायतों के त्वरित निवारण के लिए लोकपाल और वाणिज्यिक अदालतों की स्थापना जैसे कदम आवश्यक हैं। अधिकारियों की जवाबदेही और औद्योगिक गलियारों के अवसरों का अधिकतम लाभ उठाने पर भी ध्यान देना होगा।
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मुख्य बिंदु:
- पिछले समझौता ज्ञापनों (MoUs) की सफलता या उनसे सीखे गए सबक पर एक श्वेत पत्र जारी करना।
- बीआरएपी (BRAP) रैंकिंग में 'आकांक्षावादी' से 'सफल होना' तक पहुंचने का प्रयास करना।
- उचित मूल्य पर पर्याप्त भूमि, पानी, और बिजली की उपलब्धता सुनिश्चित करना, विशेषकर राजस्थान में।
- मुख्यमंत्री कार्यालय द्वारा निवेशकों की शिकायतों के निवारण हेतु लोकपाल की स्थापना करना।
- निवेश विवादों के शीघ्र निपटान के लिए संभागीय स्तर पर वाणिज्यिक अदालतों की स्थापना।
- प्रमुख विभागों में अधिकारियों का न्यूनतम तीन साल का कार्यकाल सुनिश्चित करना, जिसमें प्रोत्साहन और दंड की प्रणाली लागू हो।
- दिल्ली-मुंबई औद्योगिक गलियारे (DMIC) और अन्य औद्योगिक गलियारों के अवसरों का अधिकतम लाभ उठाना।
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News on Global Capability Centres
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Global Capability Centres (GCCs) are offshore units established by multinational companies to perform strategic activities, leveraging specialised skills, cost advantages, and operational efficiencies. They act as innovation hubs, fostering collaboration, diverse perspectives, and technological advancements.
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Bengaluru Leads BFSI GCC Talent in India, Hyderabad Follows Closely
Business Standard, September 02, 2024
Bengaluru is India's largest city, with 35 percent of BFSI Global Capability Centers, housing 26 percent of active job seekers with in-demand skills. Hyderabad ranks second for growth and relocation, with IT talent making up 34 percent of active job seekers.
India's GCC Boom: Fortune 500, Mid-Sized Firms Expand with New Operations
Business Standard, September 09, 2024
India's GCC location attracts smaller businesses and Fortune 500 organisations due to a stable environment, talent pool, and affordable costs. Mid-sized GCCs emerge, with Bengaluru and Hyderabad being the most popular for technology-oriented industries
70% of Fortune 500 Firms Will Expand Reach to India by 2030
Business Standard, September 11, 2024
India's Global Central Banks (GCCs) are expected to experience significant growth, with revenue expected to reach US$99-105bon by 2030, driven by AI-led transformation and shifting global roles. The number of GCCs will grow from 1,700 to 2,100-2,200, and the headcount will rise to 2.5-2.8 million.
GCCs Projected to Create up to 28 Lakh jobs in India by 2030
Daijiworld.com, September 12, 2024
India, the "GCC Capital of the World," houses 17 percent of global technical competency centres and employs 1.9 million workers. The market is expected to reach US$99-105bn by 2030, with export earnings of US$64.6bn.
EAM to Attend First India-GCC Foreign Ministers Meet in Riyadh
The Indian Express, September 13, 2024
S. Jaishankar, the External Affairs Minister, will visit Saudi Arabia, Germany, and Switzerland from September 08-13, 2024 to develop relationships with GCC members and European partners, including attending the inaugural meeting of India-GCC Foreign Ministers..
GCCs Expand in India, Revenue Growth to be 1-2 Pc Higher than ISPs
Desh Sewak, September 23, 2024
GCCs in India are projected to grow revenue 1-2 percent faster than IT service providers in the next 2-3 years, with the GCC-to-outsourcing ratio stabilising at 70:30. Despite higher per-head costs, GCCs are enhancing their value proposition and expanding global leadership roles, totalling nearly 5,000 positions.
Bengaluru Hosts 36 percent of GCC Workforce in First Two-Quarters of FY25
ANI,September 24, 2024
Bengaluru hosts 36 percent of India's GCC workforce, primarily in the high-tech sector. Hyderabad and Mumbai/Pune follow with 14 percent and 31 percent, respectively, showing growth in healthcare, BFSI, and retail.
Karnataka Unveils GCC Policy, Aims to Generate US$50bn Economic Output by 2029
Satincorp.com ,August 21, 2024
SA Technologies established the GCC in Pune, India, to enhance healthcare client Tendable's QA automation, application development, and customer service. The centre utilises India's tech talent for global operational excellence.
India-GCC Relations: From Historical Bonds to Strategic Dialogue
The Indian Express, September 27, 2024
The first India-GCC Joint Ministerial Meeting emphasised enhancing trade, investments, energy, and healthcare cooperation. The GCC, a regional organisation of six Arab states, aims to strengthen economic ties and address shared challenges through a Joint Action Plan for 2024-2028, promoting stability and prosperity.
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Semiconductors, known as the "brains" of electronic devices like smartphones, laptops, and cars, control their functions and process information. Expanding semiconductor manufacturing in India holds significant economic potential by creating jobs and boosting supply-chain resilience. It also reduces reliance on foreign suppliers and promotes technological independence. To support this, the Government of India has introduced incentives, including SPECS, PLI, and DLI, under the National Electronics Policy (NPE), aiming to make India a global hub for electronics manufacturing thus Rajasthan should also see this as a sector to work go ahead with
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GoI approved the proposal for Kaynes Semicon Pvt Ltd to establish a semiconductor manufacturing unit in Sanand, Gujarat. This initiative, which involves an investment of ₹3,300 crore, is expected to significantly enhance India's semiconductor production capabilities. The new unit will have a production capacity of 60 lakh chips per day.
India and Singapore have signed an MoU to collaborate in semiconductors, digital technology, education, and healthcare. India's semiconductor market is expected to reach US$63bn by 2026.
As the initial capital for the semiconductor scheme nears exhaustion, the government is expected to announce a second tranche of incentives soon. India aims for over 10 semiconductor units within the next decade. Recently, a Rs 3,307 crore proposal for an OSAT unit by Kaynes Semicon in Gujarat was approved. Meanwhile, Maharashtra approved a US$10bn chip plant by Tower Semiconductor and the Adani Group. The US will collaborate with India’s Semiconductor Mission.
Prime Minister Narendra Modi inaugurated the SEMICON India 2024 at the India Expo Mart in Uttar Pradesh's Greater Noida. Larsen & Toubro Ltd plans to invest more than US$300mn to create a chip company, joining other Indian conglomerates in a push to build out a semiconductor industry in the world's most populous country.
Semiconductor Industry Not Complicated, But Processes Crucial
Times of India, September 16, 2024
Mindox overcame challenges in Coimbatore by training local suppliers—initially focused on textiles and auto components—to meet stringent semiconductor standards. This transformation enabled the company to export globally, showcasing how Coimbatore is leveraging its engineering talent to become a promising hub for semiconductor industry growth.
India's Bid to Become a Semiconductor Hub Faces Key Challenges
Money Control, September 16, 2024
India aims to become a semiconductor hub, supported by initiatives like the India Semiconductor Mission (ISM) and SEMICON India. Key challenges include ensuring carbon neutrality, sustainable practices, and coordination between Central and state governments. Partnerships, including with the US, boost India’s role, but competition with South Korea, Taiwan, and China remains strong.
India, US Ink Pact to Set Up Semiconductor Fab for National Security, Next-Gen Telecom
Indian Express, September 23, 2024
Shakti, a green energy initiative involving Indian firms and the US Space Force, aims to enhance India's national security and semiconductor manufacturing capabilities.
New Electronics Policy to Focus on Value Addition, Creating Global Brands From India
Inc42, September 23, 2024
The revised National Policy on Electronics 2019 aims to meet the US$500bn domestic electronics market demand by 2030. It focuses on manufacturing components and semiconductors and proposes funds for development and IP rights.
IPEF Identifies Semiconductors, Minerals and Batteries as Critical Sectors
Business Standard, September 23, 2024
The US-led IPEF group, which includes 14 nations, has identified semiconductors and critical minerals for supply chain resilience. Action plan teams will enhance collaboration to address supply risks and disruptions.
Kolkata Set to Lead Country’s Semicon Revolution: Mamata
Times of India, September 28, 2024
The Government of West Bengal has received a significant investment proposal from the city's US Company GlobalFoundries (GF) project. The GoWB has already identified the land for the project. The company plans to continue expanding its operations in Bangalore and Kolkata.
L&T Semicon Expects Chip Production to Start in 2 Years
Business Standard, September 29, 2024
L&T Semiconductor Technologies plans to manufacture chips in two years, focusing on strategic indigenous products. The company is collaborating with IBM to assess investment options for various semiconductor technologies.
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फिल्म प्रोड्यूसर केसी बोकाड़िया यहां फिल्मसिटी डेवलप करेंगे। जयपुर-दिल्ली हाईवे पर अचरोल के पास 100 एकड़ जमीन में इंटरनेशनल फिल्मसिटी बनाई जाएगी। इस पर करीब 500 करोड़ रुपए खर्च होंगे। फिल्मसिटी में फिल्मों की शूटिंग के लिए स्टूडियो के साथ एक्टिंग एंड ट्रेनिग इंस्टीट्यूट और होटल्स यो बनाए जाएंगे। मुख्यमंत्री मजन लाल ने कहा कि 4 घंटे में फिल्म सिटी की जमीन को मंजूरी दे दी ।
Jaipur Rapidly Emerging as a Key Market: Amazon India
Economic Times Retail, September 02, 2024
Amazon India highlights Jaipur as a rapidly growing market in its network, driven by increased digital adoption and customer demand in Rajasthan. This growth reflects strong consumer sentiment and robust business operations in the region.
खनिज रॉयल्टी से बदलेगी मरुप्रदेश की आर्थिक सूरत
दैनिक भास्कर, 03.09,2024
खनिज संपत्र जमीनों पर राज्यों को रॉयल्टी पर कर वसूलने का अधिकार देकर सर्वोच्च न्यायालय ने उन राज्यों के लिए राजस्व का अकूत खजाना खोल दिया है. जहां इस संपदा के बड़े भंडार हैं ।
The Chief Minister of Rajasthan, Ashok Gehlot, held the first international investors' meet in Seoul to promote the upcoming 'Rising Rajasthan' Global Investment Summit 2024, attracting global investors to explore opportunities in the state's growing economy.
India has immense renewable energy potential but faces four significant challenges: land acquisition, regulatory hurdles, financing issues, and limited grid infrastructure, which must be addressed to harness the full capacity.
लालफीताशाही पर लगाम और लागत कम करने पर फोकस है
दैनिक भास्कर, 12.09,2024
प्रदेश में औद्योगिक विकास को गति देने के लिए राइजिंग राजस्थान ग्लोबल इन्वेस्टमेंट समिट से पहले सरकार कारोबार की लागत कम करने पर काम कर रही है। इसके साथ ही सरकारी विभागों में लालफीताशाही पर अंकुश लगाया जाएगा। सरकार अगले पांच वर्षों में राज्य के सकल घरेलू उत्पाद (जीडीपी) को मौजूदा 15 लाख करोड़ रुपए से दोगुना करके 30 लाख करोड़ रुपए तक पहुंचाने का लक्ष्य लेकर चल रही है और इन्वेस्टमेंट समिट के जरिए प्रदेश में निवेश जुटाना सरकार की सर्वोच्च प्राथमिकता है।
तीन दिवसीय जापान मात्रा के अंतिम दिन मुख्यमंत्री भजन लाल शर्मा ने ओसाका में आयोजित इन्वेस्टर्स मीट में भाग लिया और जापानी निवेशकों से राजस्थान में अपने मौजूदा व्यवसायों का विस्तार करने और नए उद्यम स्थापित करने का आग्रह किया। मुख्यमंत्री के नेतृत्व वाले प्रतिनिधिमंडल ने दो प्रमुख जापानी कंपनियों डाइकिन और एनआईडीईसी कॉरपोरेशन के अधिकारियों के साथ भी चर्चा की। इन कंपनियों के राज्य के नीमराणा जापानी निवेश जोन में पहले से ही उपक्रम हैं।
12 साल में ओडिशा में 'संपन्नता' 104% बढ़ी तो राजस्थान में 59% ही
दैनिक भास्कर, 15.09,2024
देश की अर्थव्यवस्था पर बनी भारतीय रिजर्व बैंक की सालाना रिपोर्ट बताती है कि गरीब राज्यों में ओडिशा के हालात सबसे तेजी से सुधरे हैं। यहां बीते 12 साल में प्रति व्यक्ति जीडीपी 104% बढ़कर 98 हजार रुपए हो गई है। किकिल के अर्थशास्त्रों के जोशी कहते हैं कि प्रतिपानी प्रतिव्यक्ति शुद्ध राज्य उत्पादन। यह बताती या निवेश उन्नी राज्यों में ज्यादा ना हा है पहले से बहुत अमीर हैं।
निवेश लाने के लिए पूर्वी देशों का रुख एक समझदार कदम
दैनिक भास्कर, 24.09,2024
जब देश के अधिकांश राज्यों की सरकारें निवेश आकर्षित करने के लिए यूएसए, ब्रिटेन, यूरोप या मध्य पूर्व की ओर देख रही हैं। राजस्थान ने दक्षिण कोरिया और जापान जैसे पूर्वी देशों की ओर देखने का एक सचेत और चतुर निर्णय लिया है।
Rajasthan Chief Minister Bhajan Lal Sharma said that investment agreements (MoUs) worth Rs 12.5tn have been signed during Mumbai and Delhi roadshows in the run-up to the "Rising Rajasthan" global investment summit, which will be held in Jaipur from December 09-11, 2024.
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