PM Modi Inaugurates ‘Rising Rajasthan Summit’, Highlights State’s Investment Potential

Prime Minister Narendra Modi inaugurated the ‘Rising Rajasthan Global Investment Summit 2024’ at the Jaipur Exhibition and Convention Centre (JECC) on December 9. 

The three-day event will host over 5,000 participants, including industry leaders, investors, and international dignitaries. 

In his keynote address, PM Modi commended the Rajasthan government for organising the Summit and emphasised the positive business climate in the country. 

He noted that India has significantly improved its economic standing, becoming the fifth-largest economy in the world from the 11th largest within a decade. Modi attributed this growth to the mantra of “Perform, Transform, and Reform”, which has led to the doubling of the size of the economy and exports over the past 10 years.

The Rising Rajasthan Global Investment Summit 2024 is a significant step in the state’s economic development. It will bring together global and local stakeholders to explore investment opportunities and foster partnerships. 

Business leaders like Gautam Adani, Kumar Mangalam Birla, Anil Agarwal, Anand Mahindra, Sanjiv Puri, and Ajay S. Shriram will attend the event. Diplomats and representatives from 32 countries, including Japan, Switzerland, Singapore, Denmark, and South Korea, will also be present, with 17 nations designated as partner countries.

The Summit aims to position Rajasthan as a prime investment destination, highlighting its skilled workforce and expanding market potential. It will feature 12 regional thematic sessions focussing on critical topics such as water security, sustainable mining, inclusive tourism, agri-business innovation, sustainable finance, and women-led startups. 

The event is expected to create a platform for meaningful dialogue and collaboration, driving the state’s growth and positioning it as a key player in the global market.

PM Modi Bats For Investments In Rajasthan 

During his inaugural speech, PM Modi highlighted the importance of technology and data in driving economic growth. “This century is tech-driven and data driven,” he said.

Modi underlined that India has seen a four-fold increase in internet users over the last decade, facilitating record levels of digital transactions. He pointed out various digital initiatives such as UPI and direct benefit transfer, and said their success shows that digital technology can benefit all sectors of society. 

Calling businesses to invest in Rajasthan, Modi underlined the state’s strategic location connecting economic centres like Delhi and Mumbai. He said that infrastructure projects such as the Delhi-Mumbai Industrial Corridor will enhance economic opportunities across several districts in Rajasthan. 

Modi also said that Rajasthan ranks among the top five states in India in terms of the employment opportunities created by micro, small, and medium enterprises (MSMEs). He said that over 27 Lakh MSMEs in the state employ over 50 Lakh people, and called on businesses to utilise them to make India a manufacturing hub.

He stressed that India’s MSMEs are not only bolstering the national economy but also playing a crucial role in global supply chains. 

The prime minister expressed confidence that with collective efforts, or “Sabka Prayas”, Rajasthan will achieve significant development milestones, contributing to India’s broader economic aspirations. 

Spotlight On Startups Supported By iStart 

The Summit is hosting a ‘Rajasthan Business Expo’, featuring a pavilion showcasing notable startups supported by iStart – a programme launched by the state government in 2017 to foster innovation in Rajasthan. Oceantree, Thrillophillia, Drone AI, Club First Robotics and Artflix Private Limited are among the startups supported by the programme. They exemplify the entrepreneurial spirit thriving in Rajasthan and highlight the state’s commitment to nurturing innovation. 

The iStart programme has been pivotal in the growth of the startup ecosystem, providing funding, mentorship, and infrastructure support to emerging businesses. It is among the largest startup programmes in India, with presence in every district of Rajasthan. 

Over 5,100 startups, including more than 1,700 women-led enterprises, are registered with iStart. It also has 300+ registered mentors and has sanctioned over INR 35 Cr to support startups. It also offers mentorship and funding to school startups and has conducted 100+ events to support young entrepreneurs.