The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is planning to host an investment mart at Jaipur in next February to attract investment for Rajasthan. ASSOCHAM president Swati Piramal said that the association aims at attracting around Rs 5-lakh crore over next three years. "Rajasthan will be the focus state for the next 5 years. It has a huge untapped potential and we want to rope in investment in various sectors including food processing, dairying, organic farming, cultivation of herbal plants, education, creation of supporting infrastructure and manufacturing. The investment will generate around 10 lakh direct jobs in the state," she said.
The state government had organised a similar partnership summit in association with FICCI in 2008 in which 300 Memorandums of Understanding and Letters of Intent with envisaging an investment of Rs.1,62,607 crore were signed. The summit has come a cropper as only 30% of the total pledged investment fructified. According to a study by ASSOCHAM, Rajasthan government has given its nod to 437 investment projects, involving investments of Rs. 1,96,601 crores by March 2009 in which manufacturing, electricity and real estate top the list.
"Investment in manufacturing amounted to Rs. 58144 crore, followed by Rs.17184 crore in mining, Rs.51443 crore in electricity and Rs. 22065 crore in services. The state attracted Rs. 13214 crores of investment proposals in irrigation sector followed by Rs.46,445 crore in real estate. We have identified over half a dozen key areas for government of Rajasthan to attract huge domestic and foreign Investments which include food processing, dairying, organic farming, cultivation of herbal plants, agro based industries, power, highways and handicrafts," she said.
According to the study, agriculture and allied sector including food processing remain the most neglected areas in the state as these contribute less than 30% to State Gross Domestic Produce (SGDP). Services sector contribute 43.5% to State GDP while industrial sector contribution to it a just at 27.2%. The chamber also proposed to partner with Rajasthan government to promote tourism in the state during the upcoming Commonwealth Games.
"We have created a Special Tourism National Committee headed by erstwhile Jaipur Princess Diya Kumari which will look after the promotion and marketing of various tourism products of the state. We have also proposed the state government to set up a high-powered Committee under the chairmanship of Rajasthan chief minister to initiate action in public-private partnership in tourism sector, Ms Piramal said.