VASUNDHARA RAJE MEETS DEFENCE MINISTER IN NEW DELHI
Jaipur, The Chief MinisterVasundhara Raje during her meeting with Defence Minister Manohar Parrikar in New Delhi on Sunday said, Rajasthan provides abundant opportunities of investment and may be considered as a venue for expansion plans of Defence Sector PSUs. She requested the Defence Minister to tap the existing possibilities of investment Rajasthan had in defence sector.
The Chief Minister said industry friendly atmosphere had been created in Rajasthan and well-known industries of the world were already doing business in Rajasthan. Foreign investment zones like Japanese Zone had been set up in Neemrana, Alwar, Smt. Raje said Resurgent Rajasthan Partnership Summit was being organized in Jaipur on 19-20 November, 2015 and investors from the country and abroad are expected to attend the event. She suggested that Defence Research and Development Organization (DRDO) may consider further expansion plans of its defence research activities in Rajasthan. She said state government was providing various incentives to defence sector manufacturing units to promote investment in defence sector.
The Chief Minister said RIICO had large chunks of land over 500 acre available readily near Jaipur, Jaisalmer and Barmer where defence sector manufacturing companies could invest. She said under Rajasthan Investment Promotion Scheme (RIPS-2014) the state government had provided package of incentives including investment subsidy of 65% of VAT and CST for 10 years to benefit the enterprises making an investment equal to or above Rs. 500 crore. Provision had been made to provide investment subsidy of 50% of VAT and CST for 7 years to the enterprises making investment from Rs. 100 to 500 crores in defence sector. Provision had also been made to provide 50% exemption from payment of Entry Tax on capital goods, she said.
Smt. Raje said major Indian Private Players and PSUs working in the defence sector should be encouraged for more investment in Rajasthan. She suggested that Larsen and Toubro, Tata Advance System Limited (TASL), Mahindra Aerospace and Defence Systems, Reliance Group, Kirloskar Brothers, Sterlite Group and Ashok Leyland (Hinduja Group) which were already working in defence sector manufacturing could be promoted to invest in Rajasthan. She also mentioned the possibilities of investment in defence sector by new joint ventures of foreign companies in India.
The Chief Minister said defence sector was emerging as a new sector from the investment point of view where there were abundant opportunities of domestic and foreign investment besides employment generation. She said geographical conditions of Rajasthan were favourable for investment in defence sector. Apart from infrastructure development various corridors were being developed which are safe from the strategic point of view. Delhi-Mumbai Industrial Corridor passing from Rajasthan would generate more strong possibilities in skill development and provide smooth transportation of raw material and safe delivery of manufactured cargo to the Ports. Thus Rajasthan had become an ideal venue for expansion of defence sector PSUs, she said.
Various issues related to security and development of long international border of Rajasthan, issues related to development of roads and soldier welfare were also discussed in detail during the meeting.