Multi-product SEZ to boost Rajasthan's economy: Minister
Rajasthan Minister for Industries Rajpal Singh Shekhawat on Thursday said the multi-product Special Economic Zone (SEZ) of Mahindra World City (MWC) here will bring more employment opportunities and also increase foreign exchange earnings.
Inaugurating the facility, Shekhawat congratulated MWC Jaipur on the launch of its multi-product SEZ. He said Rajasthan's robust policy framework is focused on meeting the emerging needs of businesses and citizens alike.
"The existing operational companies in MWC Jaipur have already earned cumulative foreign exchange of Rs 7,097 crore through exports. Besides, the companies established in the MWC Jaipur have so far created direct and indirect employment opportunities for 35,000 persons."
As a significant part of Rajasthan falls under the Delhi-Mumbai Industrial Corridor (DMIC), it speaks volumes for the industrial growth of the state in the coming years, he pointed out and added that the opening of this SEZ would bring in more employment and also increase foreign exchange earnings.
With the launch of the multi-product SEZ at MWC Jaipur, better opportunities would be created for industries from diverse sectors like auto ancillaries, food processing, processed construction materials, ESDM, medical devices, apparel, gems and jewellery, etc -- in addition to the existing sectors viz. IT/ITeS, engineering and handicrafts -- to establish their facilities at MWC Jaipur, while contributing to the "Make in India" vision of the government, Shekhawat said.
"The multi-product SEZ reflects the continued commitment of MWC Jaipur to drive economic growth and industrialisation in Rajasthan."
On the occasion, MoUs were also signed with two new customers -- Sigma Electric, global leader and exporter of castings and precision-machined components, and Aro Granite, the largest exporter of processed granite from India for setting up manufacturing facilities in the SEZ.
Rajasthan Chief Secretary D.B. Gupta, Rajeeva Swarup, ACS-Industries and Chairman - RIICO (Rajasthan State Industrial Development and Investment Corporation), and Dr. L.B. Singhal, the Development Commissioner of Noida SEZ, were also present on the occasion.
Gupta said: "A well-planned industrial infrastructure is a key enabler of our vision of establishing Rajasthan as an investment destination of choice. Mahindra World City, Jaipur has been an important part of our efforts in this direction and a key contributor to state's journey of industrialisation as well as in attracting investments."
According to Swarup, the multi-product notification for the SEZ at Mahindra World City, Jaipur marks an important milestone in the state's collaborative journey with Mahindra Lifespace Developers Ltd (MLDL).
"This will further accelerate the development of Rajasthan's industrial footprint, drive enhanced investment and improve revenues for the state."
Arun Nanda, the MLDL Chairman, said: "Mahindra Lifespace Developers is proud and delighted to be a partner-in-development to the Rajasthan government in realising the state's true growth potential. The multi-product SEZ at MWC Jaipur will continue to promote inclusive socio-economic development in the region via exports, a vibrant skilling ecosystem and job creation opportunities."
MWC is a joint venture between MLDL and RIICO and spreads over a 3,000-acre integrated business city, comprising the newly launched multi-product SEZ, a domestic tariff area and the upcoming social and residential infrastructure.
It has signed 81 companies as of March 31, 2018, of which 49 are already operational.
MWC Jaipur is home to leading global and domestic companies across its industrial zones, including Ball Corporation, Deutsche Bank, Gravita, Infosys, Jaipur Crafts, JCB, KnitPro International, Mahindra and Mahindra, Metlife, Perto, Poly Medicure, TTK Healthcare and Yasen Lighting, among others.