Rising Rajasthan Summit Day 2: Colonel Rathore, Minister IT&C Makes Strong Pitch For Investing In The State

The second day of the ongoing ‘Rising Rajasthan Global Investment Summit 2024’, being held in Jaipur, on Tuesday (December 10) saw the top names from the Indian startup ecosystem as well as key political figures coming together to discuss Rajasthan’s potential as a leading investment destination. 

The Summit is a platform for fostering collaboration, showcasing the economic opportunities, and attracting investments with a vision to transform Rajasthan into a $350 Bn economy in the next  five years. It aims to promote Rajasthan as a top-tier hub for investment and innovation. 

The three-day event is bringing together 5,000 participants, including industry leaders, investors, entrepreneurs, and international dignitaries. Diplomats and representatives from 32 countries, including Japan, Switzerland, Singapore, Denmark, and South Korea, are participating in the Summit, with 17 nations designated as partner countries. 

The event was inaugurated by Prime Minister Narendra Modi on December 9. 

Business Leaders Highlight State’s Investment Potential 

Speaking during the event, Paytm founder Vijay Shekhar Sharma exhorted founders to build AI-first ventures. “If you are not building technology that replaces humans in workflows, your startup might not survive five years,” he said. 

Sharma emphasised that all jobs currently being done by humans – physical or mental – will eventually be done by AI-powered machines. 

Meanwhile, CarDekho cofounder and CEO Amit Jain talked about the growth of Rajasthan’s startup ecosystem over the last few years. “The Rajasthan government has always been very supportive of startups. One of the benefits of starting CarDekho in Jaipur was the fact that we could directly connect with consumers, understand their problems, and build a product that solved them. We are thankful to generate jobs for 12,000-15,000 people in Rajasthan,” Jain said. 

Colonel Rajyavardhan Singh Rathore, the minister of information technology and communication in the Rajasthan government, made a strong pitch to invest in the state. 

He urged NRI industrialists and diaspora members to invest in Rajasthan, and underlined six key reasons for investing in India and the state – democracy, demography, data-driven growth, delivery, demand, and decisive leadership. 

Citing the steps taken by the state government to facilitate investments and growth of businesses, Colonel Rathore said that new policies have been formed to eliminate red tape and make it easier for startups and businesses to set up base in Rajasthan.

“To streamline the investment process, the government has designated officers as single points of contact for different countries and states, who will serve in this capacity for the next five years,” Colonel Rathore said.

He also highlighted the economic incentives offered by the state, including subsidies for technology, MSME support, and assistance in reducing export costs. 

He emphasised India’s position as the world’s largest market, and called on business leaders to leverage this market by investing in Rajasthan to drive the country towards self-reliance, as envisaged by PM Modi.