Rajasthan CM Bhajan Lal Sharma leads first international investors’ meet of ‘Rising Rajasthan’ Global Investment Summit 2024

Jaipur, (Seoul): A high-level delegation led by Hon’ble Chief Minister Bhajan Lal Sharma participated in an investors’ meet in South Korea’s capital city Seoul today and invited the business community and investors from the East Asian country to explore investment opportunities in Rajasthan. This was the first international investors’ meet of the state’s upcoming ‘Rising Rajasthan’ Global Investment Summit 2024, which will be organized in December this year. 

The Chief Minister, addressing the gathering, delineated his government’s agenda of doubling the state’s economy from the current US$180 billion to US $350 billion in the next 5 years and assured the investors that _“the state is continually improving processes and policies to provide ‘ease of doing business’ in the state"_.

Exhorting the startups, innovators and members from South Korea’s top business groups, to do business in Rajasthan, Hon’ble Chief Minister Bhajan Lal Sharma said, _“The Government of Rajasthan is not looking at South Korea as a source of investment only, but also aspires to build a strong and long-term partnership across sectors with the business leaders of South Korea. As part of our investor-friendly initiatives, my government will soon launch a slew of new policies that will enhance the business-friendly climate in the state including the new Industrial Policy, Export Promotion Policy, MSME Policy and One District One Product (ODOP) Policy.”

Besides the investors’ meet, Hon’ble Chief Minister also held one-on-one meetings with senior officials of several big South Korean companies and associations from key sectors such as Infrastructure, Chemicals, Startups and Tourism among others. This includes meeting the senior officials of POSCO International, SG Corporation (a South Korean asphalt concrete manufacturer), GS E&C (a South Korean firm working in the renewable energy and battery storage space), Hanwha Solution (chemicals), and Jeonbuk Creative Economy Innovation Center (JCCEI) which works as the incubator for startups. Besides that, several investors who were present during the investors meet also expressed interests in making investments in the state. 

Officials of POSCO International and SG Corporation, who met the Chief Minister together, expressed interests in setting up an asphalt manufacturing unit in Rajasthan and offered to make “better roads” in the state with their products. They also shared their expectations with the Rajasthan government delegation, with respect to the subsidies, infrastructure services, raw material procurement and other requirements. 

Meeting with officials of JCCEI pondered over avenues to exchange knowledge around entrepreneurship and helping startups growth their businesses.

A special investor meet was also organised to showcase the potential of Rajasthan’s tourism sector, including showcasing the 9 UNESCO sites, forts and palaces in the state, forests and wildlife, fairs and festivals, weddings in Rajasthan and ‘Palace on Wheels’. This is to be noted that ‘Palace on Wheels’ is a heritage train that tours international tourists around the best destinations of Rajasthan and is the best way to see the state in 7-days. 

Addressing the special tourism roadshow, Hon’ble Chief Minister Sharma said that both, India and South Korea have a lot in common in terms of culture and festivals.

_“I am here as a representative of Rajasthan, and I invite you all to invest in our land of heritage and culture. Today, Rajasthan is one of the fastest-growing economies in India, equipped with exceptional infrastructure, connectivity, and facilities. My government is ready to support you at every step of your investment journey. Together, we can build a bright future for Rajasthan and further strengthen the friendship between our two great countries,”_ Hon’ble Chief Minister Sharma said while inviting the South Korean tourism sector firms to invest in the state. 

Addressing the gathering, Amb. Amit Kumar, India’s Ambassador to South Korea, said, _“Rajasthan is emerging as a promising investment and trade destination in India. The state is committed to fostering a conducive regulatory environment for business expansion. The upcoming ‘Rising Rajasthan’ Global Investment Summit 2024 will provide an ideal platform for exploring new business ventures in the state.”

The high-level delegation that travelled along with the Hon’ble Chief Minister consisted of Prem Chand Bairwa, Hon’ble Deputy Chief Minister, Government of Rajasthan, Shikhar Agarwal, Additional Chief Secretary to CM, Government of Rajasthan, Ajitabh Sharma, Principal Secretary, Industries and Commerce, Government of Rajasthan and other top officials. 

The event was organised with the help of Indian Embassy in South Korea and Indian Chamber of Commerce in Korea (ICCK).  

About the ‘Rising Rajasthan’ Global Investment Summit 2024: 
The Government of Rajasthan, led by Hon’ble Chief Minister Bhajan Lal Sharma, will be hosting the ‘Rising Rajasthan’ Global Investment Summit 2024 on 9th, 10th, and 11th December 2024 in the capital, Jaipur. The 3-day mega summit, which aims to attract and facilitate global investment, innovation, and partnerships in the state, is organized with the support of the Industry and Commerce Department, Bureau of Investment Promotion (BIP), and RIICO, with BIP serving as the nodal department for this summit. During the summit, special plenary sessions will be organised on different focus sectors, including Agriculture, Renewable, Education and Skilling, Auto and EV, Infrastructure, Chemical and Petro-chemical, Tourism, Startups, Mining and ESDM/IT and ITeS and others.