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Rajasthan invites UAE business groups to make investments in Rajasthan

Rajasthan Minister of Industry and Commerce Rajyavardhan Rathor leads Dubai international investors’ roadshow; meets UAE Minister of State for Foreign Trade

Rajasthan, the largest Indian state by area and the seventh largest by population, has invited the UAE business groups and investors to make investments in one of the most economically prominent state of India.

Minister of Industry and Commerce Rajyavardhan Rathore, who led a high-level delegation of Government of Rajasthan, said Rajasthan is working under the over-arching vision of Indian Prime Minister Narendra Modiji to turn India into the third largest economy in the coming years and a developed country by the centenary year of independence.

Speaking at an investment roadshow in Dubai -- ‘Rising Rajasthan’ Global Investment Summit 2024, the minister said Rajasthan, being an economically prominent state, has its task cut out to contribute to the vision of ‘Viksit Bharat’.

"The political will of the government to alleviate the business environment is amply demonstrated by the decision to host the investment summit in the very first year of the government’s tenure. A complete revamp of the policy framework has been undertaken and new policies are going to be launched in the coming days to ensure that the investors are able to do business at the least possible cost and in the most hassle-free manner,” Rathore said.

Seeking to invite investors for making investments in Rajasthan, the minister also met Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and breifed him about ‘Rising Rajasthan’ Global Investment Summit, which is scheduled to be held in December. The three-day event will start on December 9 and reserve its second day for non-resident Rajasthani.

Besides that, Rathore and other members of the delegation also held meetings with several leading companies of UAE as well as with members of UAE chapter of UAE-India Business Council. The minister-led delegation rolled out the red carpet and invited the UAE-based business groups and investors to make investments in Rajasthan.

At the Dubai investors’ meet, Rathore-led delegation held a round of discussions with several companies belonging to logistics, real estate, petrochemicals, financial services, health, renewable energy, AI filmmaking sectors the sectors of solar and steel manufacturing, healthcare, among others. This includes meetings with business groups associated with the UAE chapter of UAE-India Business Council (UIBC) including officials of KEF Holdings, DP World, Lulu Financial Holdings, Emirates NBD, Sharaf Group, and EFS Facilities, among others, and invited them to explore opportunities in the state.

Besides that, the minister-led delegation also held discussions with Dubai Cable Company Pvt Ltd (Ducab), Gulf Islamic Investments, Transworld, Tecton Engineering and Construction LLC, Abacus Chemie LLC among others. The companies were invited to explore the business prospects in the state and participate in the ‘Rising Rajasthan’ Global Investment Summit, to be held at Jaipur on December 9, 10, and 11, 2024.

During the investors meet on Tuesday, a presentation was made, and a film was played before the investors community, highlighting the core strengths of the state, key investment areas and showcased the collaborative potential across sectors such as chemicals and petrochemicals, oil and gas, real estate, logistics and hospitality.

Making the presentation at the investors’ meet, Sourabh Swami, Additional Commissioner (Investments), Bureau of Investment Promotion, Government of Rajasthan, said the scope of business collaboration between Rajasthan and UAE is immense due to the existing enabling factors such as local currency settlement system, Comprehensive Economic Partnership Agreement (Cepa) between India and UAE and Most Favoured Nation (MFN) tariff arrangement among others.

"Under a proactive governance model, industry friendly regime and key fiscal incentives, Rajasthan is going to emerge as one of the most industry-friendly business jurisdictions for the UAE investors,” he said.

Speaking during the investors’ meet, Satish Kumar Sivan, Consul General of India in Dubai, said: “I urge the business groups and trade bodies based out of UAE to explore the investment opportunities in Rajasthan. The consulate office in Dubai will be more than willing to put the interested investors in touch with the officials in Rajasthan and help facilitate their investment into the state.”

Besides the minister, the high-level government delegation also includes Sidharth Sihag, Joint Secretary to Chief Minister; and Sourabh Swami, Additional Commissioner, Bureau of Investment Promotion (BIP); among others. The delegation will visit Abu Dhabi on September 18 and also visit Qatar after the UAE-leg and invite the investors to do business in Rajasthan.

It is to be noted that Government of Rajasthan is undertaking an extensive outreach across the key commercial centers across India and around the world as part of the ‘Rising Rajasthan’ Global Investment Summit 2024. Recently, a high-level delegation led by Chief Minister Bhajan Lal Sharma visited South Korea and Japan, during which several companies and associations expressed interest in doing business in Rajasthan.

— muzaffarrizvi@khaleejtimes.com