Prime Minister Narendra Modi inaugurated the three-day Rising Rajasthan Global Investment Summit 2024 on December 9 at the Jaipur Exhibition and Convention Centre (JECC). The summit, which runs until December 11, aims to position Rajasthan as a premier hub for investment and innovation, attracting global investors, non-resident Indians (NRIs), industry leaders, and policymakers. The event features a comprehensive showcase of investment opportunities in the state through strategic thematic sessions, country-specific discussions, and one-on-one business meetings.
Rajasthan Chief Minister Bhajan Lal Sharma emphasized the state’s commitment to realizing the vision of “Viksit Bharat – Viksit Rajasthan,” with an action plan aimed at transforming the state into a $350 billion economy within the next five years. He highlighted that youth, women, farmers, and underprivileged communities would be the primary beneficiaries of this economic transformation. Rajasthan has established itself as a key entrepreneurial destination, boasting over 3,700 DPIIT-registered startups across various sectors such as enterprise technology, e-commerce, and edtech. The capital city, Jaipur, is home to more than 53% of these startups, supported by a skilled talent pool and favourable government policies. The iStart program, launched in 2017, has played a crucial role in this growth by providing funding, mentorship, and infrastructure support to emerging businesses.
On December 10, a breakfast roundtable will feature 75 startup founders alongside industry leaders like Vijay Shekhar Sharma (founder of Paytm) and Ritesh Agarwal (founder of OYO Rooms) to discuss building a robust startup ecosystem in Rajasthan. Throughout the summit, the iStart initiative will set up a startup pavilion where selected startups can showcase their products and services. Notably, 20 startups will have the opportunity to interact directly with PM Modi. The summit will also host a Pravasi Rajasthani Conclave aimed at engaging with the diaspora community and an MSME Conclave focused on promoting micro, small, and medium enterprises (MSMEs), which are vital for the state’s economic growth.
During the summit, significant investment commitments have been announced. Karan Adani from Adani Ports pledged over ₹7.5 lakh crore for key sectors such as green energy and infrastructure development. Kumar Mangalam Birla from the Aditya Birla Group also announced an investment of ₹50,000 crore over the next two years, with a focus on renewable energy initiatives. Overall, investments worth over ₹20 lakh crore in Memorandums of Understanding (MoUs) are expected to be signed during this summit. The state government aims to attract investments across various sectors with an emphasis on renewable energy, digital transformation, and inclusive tourism while creating job opportunities and facilitating partnerships with international entities. The Rising Rajasthan Global Investment Summit is set to further enhance Rajasthan’s reputation as a leading destination for innovation and entrepreneurship while fostering economic growth through strategic investments.
In his address at the summit, PM Modi stated that Rajasthan is emerging as a prime destination for investment due to its skilled workforce and expanding market. He expressed excitement about India’s potential and remarked that India’s success showcases the true power of democracy, demography, digital data, and delivery. He emphasized that this century is tech-driven and data-driven while highlighting how India has demonstrated how the democratization of digital technology benefits every sector and community.
Modi noted that Rajasthan is not only rising but is also reliable and receptive to change. He stressed that having a strong manufacturing base in India is crucial for economic growth. Furthermore, he pointed out that India’s MSMEs are not only strengthening the Indian economy but are also playing a significant role in empowering global supply chains.
The Prime Minister’s remarks reflect his vision for a developed India where states like Rajasthan can thrive through innovation and strategic investments. As the summit progresses, it is expected to pave the way for substantial economic advancements in Rajasthan.
