Gehlot government after 3 years: Apart from renewable energies, investments are stalling | Jaipur news

Recently, $ 1 billion worth of food and essentials-focused social commerce startup DealShare relocated its base from Jaipur to Bengaluru without publicly giving reasons for the decision. People who know of the development say Jaipur or Rajasthan are not attracting talent and it is no longer the low cost destination for business and talent.
Low business costs, touted as the main reason businesses move to Jaipur, are now out of water. This not only applies to startups or companies in the service sector, but also to the manufacturing industry.
“The cost of electricity, car fuel, and even land charges are much higher in Rajasthan compared to other states. Companies that already operate in Rajasthan struggle to compete with their counterparts in other states, ”said NK Jain of the Rajasthan Employers’ Association, a non-profit organization.
On the contrary, RIICO says it has sold record lots of land in recent years. This is borne out by the Group’s statistics. However, these are small plots of land, say industry representatives, which are not the basis for assessing the progress of industrialization over the past three years.
As the incumbent government celebrates its third anniversary, there will inevitably be assessments of how many investments it has received over that period.
“Apart from renewable energies, the country has made almost no significant investments in the past three years. Even with renewable energies, it’s a real estate game and the investments don’t have much of an impact on job creation and income generation for the state, ”said an industry official who preferred anonymity.
In the past year, the Industrial Department established a record number of industrial zones in the state, over 100. But industrial zones don’t mean investment.
Jain says, “Even in industrial areas, interest rates are so high that investors would prefer other states. It’s a landlocked country and the logistic costs are too high if you’re not near the NCR, ”adds Jain.
The state would hold an investment summit next month. Although it has so far called for MoUs and letters of intent for investments of nearly Rs 5 lakh crore, many of the proposals are being recycled, says the industry official quoted earlier.
In the mining sector, the ministry has not yet been able to announce any policy in the current government regime. Tourism was no different. The government announced a fund of Rs 500 crore to develop and promote it. But the fund has yet to see the light of day.
The drying up of investment affects most economic and commercial sectors, halting job creation and reducing the incomes needed to sustain other industries and businesses.

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