Textile emerges as a prominent sector for generating new employment opportunities in the State

Jaipur,15th December 2022: The ‘Invest Rajasthan Summit’ organized by the Government of Rajasthan in the month of October in Jaipur on the theme “Committed: Delivered” is going to achieve a new milestone of success. A total of 4,192 MoUs and LOIs were received during the Investors Meet held in Delhi, Mumbai, Chennai, Kolkata, Hyderabad, Bangalore, Ahmedabad and Jaipur, apart from Dubai, out of which more than 46 per cent projects (total 1884 projects) are implemented or are under implementation. It is expected that the number of project implementation is likely to increase further in the upcoming few months.

Textile emerges as a prominent sector for generating new employment opportunities in the State
In terms of employment, the textile sector has emerged as an emerging sector. The Textile industry is expected to generated employment for around 38,900 people with an investment of approx Rs 8,003 crore. Agro and food processing sector is on the second place in employment generation. About 38,097 people will get employment in this sector with an investment of approx Rs 4,403 crore. The energy sector ranks third in employment generation. Likewise, Mines and Minerals, Cement, Tourism, Medical and Health etc. are other emerging sectors from the view of investment and bringing in new employment opportunities for the people of the state.

Chemical and petroleum sector became the second major sector after energy in terms of investment
The implementation of the industrial projects will not only provide employment to about 2,59,590 people in the state but will also pave the way for investment of more than Rs.2,06,067 crore . If we talk about the major industrial sectors in terms of investment, about 36,001 jobs will be generated with an investment of around 1,12,233 crores in the energy sector. From the investment point of view, after energy, the chemical and petroleum sector has emerged as the second major sector. The implementation of the industrial projects in the sector will not only provide employment to as many as 27,936 people in the state but will also pave the way for investment of more than Rs. 35,450 crores. Similarly, about 3,661 people are likely to get employment with an investment of about Rs 11,424 crore in petroleum and gas sector.

According to Industries and Commerce Minister Smt. Shankutla Rawat, “for the economic development of the state a large number of investors have shown their faith as per the vision of the Hon’ble Chief Minister of Rajasthan, Shri Ashok Gehlot. Large pool of human resources, rapid infrastructure development, strong market access, India’s largest industrial land bank and attractive investment incentives are attracting investors. In addition, RIICO has developed more than 390 industrial areas and 120 industrial areas are in the pipeline. Recently many new policies have also been launched or previously launched policies have been re-launched after making amendments according to the changing investment environment. Rajasthan Investment Promotion Scheme (RIPS-2022), Handicraft Policy, MSME Policy, Startup Policy, Electric Vehicle Policy, Film Tourism Promotion Policy, etc. are some of the prominent policies launched this year.”

According to Additional Chief Secretary Industries, Government of Rajasthan, Smt. Veenu Gupta: We are closely working with the investors to help them to ground their proposals. Furthermore, with the aim of promoting investment in the State by emphasizing on building sustainable partnership with foreign and domestic investors, the State Government has ensured timely approval of investment proposals of more than Rs 10 crore, a world class facilities like One Stop Shop has been created for this. We are confident that it will not only create positive atmosphere in the state from the investment view, but Rajasthan will also set new benchmark in terms of attracting investment and employment generation.

It is worth mentioning that in the state, Rajasthan Solar Energy Policy (2019), Rajasthan Wind and Hybrid Energy Policy (2019), Rajasthan Agro-Processing, Agro Business and Agri Export Promotion Policy (2019), Rajasthan MSME Act (Facilitation of Establishment and Operation) 2019 , Rajasthan Tourism Policy (2020) and other policies provide support to various sectors. Similarly, the Rajasthan Investment Promotion Scheme (RIPS-2022) in the state helps investors in starting new businesses and expanding existing businesses in Rajasthan.

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