### Rajasthan's Mega Investment Summit: A Historic Move
By Gopendra Nath Bhatt
In the historic first year of his tenure, Chief Minister Bhajanlal Sharma of Rajasthan made a bold move by organizing a Mega Global Investment Summit in Jaipur, inviting both domestic and international investors. To further this initiative, Sharma embarked on a foreign tour during his first year in office, extending invitations to global investors, marking a significant milestone in the state's economic development.
Returning from a five-day trip to South Korea and Japan, the Chief Minister arrived back in India early Saturday morning. However, as he was returning, the Congress raised a technical issue concerning an ongoing court case related to the 2011 Gopalgarh incident in his home district of Bharatpur. The opposition party questioned how Sharma was able to travel abroad without court permission, alleging a violation of court orders. The BJP dismissed these claims as a political ploy by Congress to gain mileage ahead of the Haryana Assembly elections, accusing the opposition of attempting to capitalize on the issue.
Politically motivated or not, the Chief Minister's efforts to attract foreign investment in a once-backward state like Rajasthan represent a separate, positive initiative aimed at boosting industrial development. While previous governments have organized investment summits mid or late into their terms, Sharma’s government made a strategic decision to host the "Rising Rajasthan Global Investment Summit" early, taking advantage of the central and state governments' double-engine framework. This proactive approach has garnered praise from all corners, positioning the summit as a key driver of Rajasthan’s growth.
During his foreign tour, Chief Minister Sharma and his delegation, which included Deputy Chief Minister Dr. Prem Chand Bairwa, engaged with several investors, industrialists, and government officials in Japan and South Korea. In Japan, discussions focused on smart city projects, renewable energy, and infrastructure. Meanwhile, in South Korea, technological innovation and education cooperation were the main themes. Several South Korean companies expressed interest in investing in Rajasthan, signaling a positive outlook for the state's development.
Upon his return to Delhi, the Chief Minister emphasized the success of the trip and expressed optimism about its future benefits. He revealed that new policies have been devised to attract foreign investment, which will accelerate the state's economic growth. The Rajasthan government has already received investment proposals worth a record ₹5.21 lakh crore ahead of the summit, and several agreements were signed during the foreign trip, promising job creation and industrial development.
The government has launched a series of roadshows to promote investment opportunities in Rajasthan, with the first held in Mumbai on August 30, 2024, followed by similar events in Delhi and other major cities. The summit, scheduled for December 9-11, 2024, will focus on sectors such as agriculture, renewable energy, education, auto and electric vehicles, infrastructure, chemicals and petrochemicals, tourism, startups, mining, IT, and electronics. Chief Minister Sharma also announced 13 new policies to create an investor-friendly environment in the state.
Although both the Congress and BJP have previously held similar summits under different names, the challenge remains as to how much of the pledged investment materializes on the ground. The upcoming summit, under Bhajanlal Sharma's leadership, will be closely watched to see how effectively it translates into tangible progress for Rajasthan.
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