The Bhajan Lal Sharma-led government in Rajasthan is going all out to make Rising Rajasthan, a global investment summit, successful.

       The summit, which was held here on December 9-11, 2024, saw the signing of memorandums of understanding (MoUs) and letters of intent (LoIs) worth around Rs 35 trillion.

       “Since the announcement, we have been engaged in making the investment summit successful. The seriousness of the state government can be gauged from the fact that it appointed 23 senior IAS officers in international jurisdictions as single points of contact for foreign investors. Also, many other senior officers are working to convert these MoUs into running projects,” a senior official of the industries department said.

       A source in the industries department said that to make things easy for prospective investors, the state government is planning to develop a three-layer system to give clearance to these proposals.

       According to him, the chief minister will clear 261 files of more than Rs 1,000 crore and 1,678 proposals of Rs 100-1,000 crore will go to the chief secretary for clearance.

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       The remaining 9,726 files will be disposed of by heads of concerned departments and other officials.

       According to estimates, in terms of investment size, clearance of 88 per cent, that is investment proposals worth Rs 32 trillion, will be in the hands of the chief minister.

       To smoothly facilitate the implementation of MoUs signed during the Rising Rajasthan Global Investment Summit 2024, the Bureau of Investment Promotion (BIP) conducted a training session for officials.

       Meanwhile, the state government has also decided to review the progress of MoUs regularly.

       However, trade bodies and economists do not feel optimistic as a similar kind of event was organised by the previous Ashok Gehlot government in 2022 Invest Rajasthan – in Jaipur on October 7-8.

       According to the All Rajya Trade and Industry Association (ARTIA), a Rajasthan-based trade body, not even 10 per cent of those investment proposals saw light of the day.

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