NMC hosts annual NRI investors meet

India's booming economy spells heightened optimism for investors

Speaking at the meet, Mr. Rajvi stressed on the booming economy of India, which is creating new opportunities for investors from across the world. He particularly singled-out the fast-paced growth of the Gems & Jewellery, Textiles, Medical Tourism, Healthcare, and Automotive & ancillary industries in the Indian state of Rajasthan.

Rajasthan making giant strides

Mr. Rajvi informed the invitees that the Indian state of Rajasthan is already home to known firms like GE Caps, Ray Ban, Ericsson, Mico Bosch, Gillette, Federal Mogul, and Ford, among others. The state accounts for 40% of the country's wool production, 30% of meat and 10% of milk production, while having the distinction as having the second largest limestone deposits and being the largest producer of cement in India. In the agro-processing industry, players like ITC, Australian Wheat Board, SAB Miller, and Cargill are marking their presence.

He also spoke of GE's plans to scale up the manpower figure at its BPO facility in Rajasthan to 9000 by 2010 and that other major IT giants have already announced their plans invest in the state. The leading auto-maker Honda has signed an MOU with the state government for setting-up the first passenger car manufacturing unit in the state. This project along with the ancillaries and support services would involve an investment of around INR 6,000 crore. To sustain encouragement the government is planning a third multi-product SEZ in the PPP mode with Mahindra & Mahindra, in addition to the existing two SEZs in Jaipur and Jodhpur.

Developing tourism potential and infrastructure

Rajasthan has been polled as the ninth most attractive tourism destination in Asia and is making efforts to improve this by providing incentives for the Hotel industry like exemption in luxury tax, stamp duty, and entertainment tax, among others.

Concluding his address, Mr. Rajvi stated that the 'Pink City of Jaipur is set to emerge as the next Medicare City' with approximately INR 4.81 billion likely to be invested for setting-up of 5 state-of-the-art private hospitals to promote medical tourism. These include Medi-city by Anil Dhirubhai Ambani Group; Bombay Hospital; Dr. Rakesh Kedawat Hospital; Sea Rock Society Cancer Hospital; and International Oncology Cancer Hospital.