Asian Development Bank says Rajasthan will soon emerge as a favourable place for entrepreneurs
Rajasthan is expected to emerge as a favourable investment destination on the back of a suitable policy environment, speedy clearances to industrial projects as well as good infrastructure, says an ADB survey. "The government of Rajasthan is already rolling out many policy and project specific initiatives to address the issues identified by entrepreneurs that would help Rajasthan emerge as the preferred investment destination," it said.
Asian Development Bank (ADB) undertook the survey, which was released at the ongoing Resurgent Rajasthan summit in Jaipur, in partnership with the state government. Time-bound clearances for industrial projects, speedy land approvals and efficient provision of linkage infrastructure are among major incentives highlighted by investors to invest in the state, the survey said.
"The background to the survey was Rajasthan's government's desire to understand what entrepreneurs who are based in the state actually think about the investment climate", said Kho, Country Director for ADB in India, while presenting the survey findings. In order to reflect a broad view of the industry, interactions were conducted in 17 industrial areas across five divisions - Jaipur, Ajmer, Jodhpur, Kota and Udaipur - that account for over 90 per cent of industrial output, investment and employment.
The 15 target industries were selected based on past performance, and on sunrise sectors expected to attract significant investments. "The RICA investigates why firms are based in Rajasthan, what key factors entrepreneurs are looking for to expand in the state. The survey also identified specific action points for the Rajasthan government to further improve the investment potential of the state," ADB said in the release.
According to the survey, transparency and price certainty in land allocation process, availability of power and a peaceful labour situation were among the major positives to invest in the state. As per the survey findings, an overwhelming 64 per cent respondents said availability of proper land parcels was one of the key factors for their decision to invest in the state.
Image Credit: Shutterstock
Read More:
Haryana Gov to set up a Rs 100 cr fund for MSMEs, new industrial Policy on anvil to spur growth
MSME ministry has prepared industrial profile of 652 districts under India’s skill mapping project
AP government plans to bring out MSME policy to give boost to entrepreneurship and employment
