Gehlot Questions Investment Summit Efficacy Amid Past Project Delays

Former Rajasthan Chief Minister Ashok Gehlot questions the effectiveness of the upcoming Rising Rajasthan Global Investment Summit 2024, citing low actualization rates of proposed investments. He recalls a delayed Rs 40,000 crore project revived after a government change and emphasized the need for meaningful follow-through post-MoUs.

Former Rajasthan Chief Minister Ashok Gehlot has voiced doubts over the effectiveness of the Rising Rajasthan Global Investment Summit 2024, cautioning that only a small fraction of proposed investments are typically realized after signing memorandums of understanding (MoUs). The summit is slated for December in Jaipur.

Addressing the media, Gehlot conveyed his reservations: "Our best wishes to them. Every administration strives to attract investment nationally and internationally by signing MoUs, but usually, only 10-12 per cent of these investments materialize. Attending an event and securing actual investments are distinctly different challenges," he remarked.

Gehlot reminisced about a Rs 40,000 crore project aimed at job creation that stalled for nearly five years due to a shift in state governance, later revived when Prime Minister Narendra Modi laid its foundation stone. Stressing its significance, Gehlot said, "The refinery project is crucial. Initiated under former PM Manmohan Singh and Congress chair Sonia Gandhi, a modern petrochemicals complex was planned. Unfortunately, it was halted due to a governmental change but resumed when PM Modi reinstated it. Our government then monitored its progress, anticipating job creation from the complex."

The Rising Rajasthan Global Investment Summit will commence on December 9 and continue through December 11 at Jaipur Exhibition Convention Centre (JECC) in Sitapura. The event promises to showcase state opportunities, strategic thematic sessions, country-specific discussions, individual business meetings, along with an MSME Conclave and a Pravasi Rajasthani Conclave.

(With inputs from agencies.)