Rising Rajasthan Summit 2024: MoUs Worth INR 35 Lakh Cr Signed

The Rising Rajasthan Global Investment Summit 2024 concluded on Wednesday (December 11) with Memorandums of Understanding (MoUs) worth over INR 35 Lakh Cr signed. 

On the final day, the state secured investment commitment totalling INR 30 Lakh Cr, reflecting the business community’s confidence in Rajasthan’s potential as an investment hub.

At the special Micro, Small, and Medium Enterprise (MSME) Conclave, held on the last day of the Summit, the state government announced land conversion exemption for small industries. Under the new policy, conversion of 1 acre of land will be allowed without any additional charges. This move is expected to significantly boost the growth of MSMEs in the state. 

The government also announced plans to establish district-level committees to address challenges faced by businesses. 

CM To Present Report Card Next Year

Chief minister Bhajan Lal Sharma commended the success of the Summit and said that the state government will present a progress report on the MoUs signed during the three-day event on December 11, 2025. 

“The MoUs signed through this Summit shall be implemented with full force, ensuring they contribute towards the development of the state. This Summit has been a monumental one and marks a new chapter in the state’s history that shall lead towards the path of progress,” the chief minister said.

Union minister Dharmendra Pradhan, who attended the closing session, reiterated the importance of removing restrictive clauses in policies that hinder business growth. 

Meanwhile, Rajasthan’s information technology and communications minister Colonel Rajyavardhan Rathore said that small enterprises will benefit significantly from the new land conversion policy. 

He also said that the district-level committees will have representation of small business associations with an aim to improve the ease of doing business in the state.

Rajasthan Poised For A Giant Economic Leap 

The Summit saw the leading corporations of the country announcing investments in Rajasthan. The Adani Group said it would invest a whopping INR 7.5 Lakh Cr in the state. Announcing the investment, Adani Ports & Special Economic Zone MD Karan Adani praised Prime Minister Narendra Modi’s leadership and vision for India’s strong economic growth.

Additionally, the Aditya Birla Group announced an investment of INR 50,000 Cr, focussed on sectors such as cement and renewable energy. Of this, INR 6,000 Cr has been earmarked for renewable energy projects over the next two years.

Renewable energy was among the hottest topics during the Summit. According to Sumant Sinha, CEO of Renew Power, approximately 70-80% of India’s increased power demand in the coming years will be fulfilled from renewable sources. 

This aligns with the strategic initiatives taken by the Rajasthan government to position the state as a hub for renewable energy.

The Summit also focussed on Rajasthan’s abundant natural resources and leveraging them as key drivers for the state’s economic growth. Anil Agarwal, chairman of Vedanta, pointed out that these resources can significantly contribute to the state’s development trajectory. 

The Rising Rajasthan Summit not only aimed to attract investments but also delve on fostering innovation and entrepreneurship. With the launch of new policies to support MSMEs – including the MSME Policy 2024 and One District, One Product – the state is positioning itself as a competitive investment destination.

The investment commitments and business friendly climate in the state have set the stage for rapid industrial growth, job creation, and overall economic development of Rajasthan. 

The success of the Summit is a key milestone in the state’s journey towards emerging as a key player in India’s economic landscape, promising a future of growth, innovation, and prosperity for businesses and citizens.