Rajasthan govt attracts RE investments over Rs 167,000 cr

The Rajasthan government, despite battling the Covid-19 pandemic, has successfully been drawing renewable energy investments worth over Rs 167,000 crore. The major investments cleared by the Board of Investments (BOI), chaired by Chief Minister Ashok Gehlot, have come in the renewable energy sector (RE), as Rajasthan is the central hub for solar power. When the pandemic was at its peak within March 2020-21, the state received Rs 12,000 crore worth of investments below the one-stop Shop policy. The investments are in tourism, transport, food processing, textile, chemical, green energy, cement, and stone value addition areas, and it has come for 15 districts. The highest investment of Rs 5992.86 crore had been received by Jodhpur in the green energy sector, Rs 3826.16 crore for Bikaner, and followed by Rs 1344.87 crore for the desert district of Jaisalmer in the green energy sector. Approximately 40,000 brand new jobs will add to the state with these investments. The private sector also plays a significant role in the economic growth and the job production of the state. Outside these investments, 90% of jobs the renewable sector will provide, especially in the barren land area of the state. These districts include Jalore, Jaisalmer, and Barmer. ReNew Power, Greenko, Adani Green Energy, and JSW Solar are also investing about Rs 164,540 crore and will provide employment openings to over 37,000 people in the RE area in the next two years. Gehlot said that in the last couple of years, the state government implemented many essential policies and programs to boost investment in the state, eliminating the bottlenecks in investment, and the new projects have begun in a time-bound way in the state. Moreover, he directed the officers that each effort should improve investment in the state. He also said that the formation of tourism policy and distribution of Rs 500 crore had been made for the Tourism Development Fund. Apart from the RE sector, the BOI also cleared Mewar Polytex in the technical textile sector, Sahasara Semiconductors in the electronics area, ASI Industries in the engineering manufacturing stone, Hema Media Sources in the medical and health, and Kanchan India in textile. The total investment from these firms is expected to be over Rs 3,200 crore and employment of above 5,600 persons. For the ease of managing the business, Rajasthan has been steadily innovating the methods, the state has gained a position between the highest states in the country in 2019 with an implementation score of 98.39%. It has centred on growth in the sectors such as RE, auto and textiles and apparels, components, food processing, pharmaceuticals, petrochemicals, mines and mineral, sand leather and footwear with country leaders' firms of every sector’s investments and presence in the state. Image Source Also read: Greenko to set up hybrid energy project in Rajasthan Also read: ReNew commissions 110 MW solar project in Rajasthan