Rajasthan is the largest producer of crude oil in India, with production of 5.88 million metric tonnes in FY22.
Rajasthan, the largest (area-wise) state in India, is in the north-western part of the subcontinent. It borders six major states in the northern, western, and central parts of India. Rajasthan is a natural corridor between the wealthy northern and the prosperous western states, making it an important trade and commerce centre.
The natural resources, policy incentives, strategic location and infrastructure in the state are favourably suited for investments in sectors such as cement, tourism, agriculture and allied industries, mineral and mineral processing industries.
The state has an agricultural economy with nine agro-climatic zones and various types of soil that help during the cultivation of crops. Food grain production is estimated to have reached 22.80 million tonnes in 2018-19.
Between 2015-16 and 2022-23, the state’s GSDP increased at a CAGR (in Rs.) of 10.07%. At a CAGR (in Rs.) of 10.86% between 2011-12 and 2020-21, the tertiary sector has been the fastest-growing sector and the largest contributor to Rajasthan’s economy in 2020-21, with a 45.44% share in the state’s GSVA. The growth was driven by storage, communication & services related to broadcasting, financial services and public administration.
The state is the leading producer of cement-grade limestone in India. Production of limestone reached 66.26 million tonnes in April 2020-February 2021.
Bureau of Investment Promotion (BIP) is the nodal agency of the Government of Rajasthan that facilitates investment in various sectors in the state. Rajasthan State Industrial Development and Investment Corporation (RIICO) is the sole agency in the state that develops land for industrial growth. As of July 2022, the state was home to six notified Special Economic Zone (SEZs).
As of August 2022, Rajasthan had a total installed power generation capacity of 36,113.09 MW, of which 3,937.36 MW was under the central utilities 8,890.35 MW under state utilities and 23,285.38 MW under private sector. Of the total installed power-generation capacity, 14,102.19 MW was contributed by thermal, 1,941.93 MW by hydro and 21,454.16 MW by renewable energy.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investment (FDI) inflows in the state stood at US$ 1,566.03 million between October 2019-June 2022.
Following are some of the major initiatives taken by the Government to promote Rajasthan as an investment destination:
Note: ^Excluding Fuel, Atomic and Minor Minerals
Defence Minister, Mr. Rajnath Singh and Minister for Road Transport & Highways, Mr. Nitin Gadkari inaugurated emergency landing facility for indian air force in Barmer, Rajasthan.
Prime Minister, Mr. Narendra Modi has unveiled 'Statue of Peace' to mark the 151st Birth Anniversary celebrations of Jainacharya Shree Vijay Vallabh Surishwer Ji Maharaj.
Rays Experts commissioned six solar parks, with a combined power capacity of 600 megawatt (MW) in Rajasthan with an investment of Rs 3,000 crore (US$ 409.86 million). The company aims to reach the 1,000 MW installation milestone by the end of 2021.