RIICO has approved land allotment for 3 important projects, which include defence manufacturing and a solar waste recycling unit. These projects are approved to accelerate industrial development in Rajasthan. Moreover, industrial development in Rajasthan is also being promoted through undeveloped and semi-developed land. This is expected to provide a new direction to both solar waste disposal and defence production in the state. These MoUs were signed as part of the Rising Rajasthan Investment Global Summit.
Project 1: RIICO Managing Director Shivangi Swarnkar said that Imperial Armoury Pvt Ltd has been given undeveloped land for a defence unit in Udaipur Khurd (Kishangarh). The company will invest ₹162 crore to set up a state-of-the-art defence production plant. The government is also introducing an Aerospace and Defence Policy.
Project 2: At the same time, V-7 Even Infotech Company has been permitted to set up a solar waste recycling unit on undeveloped land in Devka village of Barmer district. The company will set up a solar waste scrapping and recycling facility here. An investment of Rs 100 crore will be made in this project.
Project 3: Multimodal Terminals Company has been allotted land in the RIICO Industrial Area, Parbatsar Phase II, in the Kuchaman-Didwana district for setting up the PM Gati Shakti Multimodal Logistics Terminal. With an initial investment of around Rs 50 crore, the project will be allign with the Rajasthan logistics policy.
RIICO: Powering Industrial Growth in Rajasthan
RIICO Full Form
The full form of RIICO is Rajasthan State Industrial Development and Investment Corporation Ltd. In India’s developing states, Rajasthan stands out as a land of opportunity, rich in minerals, heritage, and increasingly, industrial prowess. At the heart of this industrial transformation is the RIICO. Overall, this organisation is not just an agency; it is the principal catalyst that has shaped and continues to define the state’s industrial architecture.
Established with the core objective of accelerating economic development through industrialisation, RIICO acts as a single-window service for investors. Moreover, RIICO provide the necessary infrastructure, financial assistance, and procedural support to set up and scale businesses. RIICO has established 33 regional offices throughout Rajasthan to oversee the development and management of industrial zones. Understanding RIICO is paramount for anyone looking to invest in or study Rajasthan’s industrial ecosystem.
The Multifaceted Role of RIICO Areas in Infrastructure Development
The most visible and impactful contribution of RIICO is its extensive role in the developing industrial infrastructure. RIICO systematically identifies potential areas across the state and converts raw land into fully functional industrial areas and estates. These developments are meticulously planned, incorporating all the essential features required for modern industrial operations. Particularly, this includes providing developed plots and sheds, ensuring reliable access to power and water supply, constructing well-maintained roads, and establishing robust drainage systems. Â RIICO has developed 429 industrial areas by acquiring approximately 95,273.36 acres of land. In these industrial areas, over 42,422 industrial units are currently in operation.
Crucially, RIICO is also pioneering the establishment of Special Economic Zones (SEZs) and specilised industrial parks dedicated to sectors like ceramics, textiles, and information technology. This strategic development ensures that industries not only find a place to operate but also benefit from a supportive, purpose-built environment that fosters competition and growth. Without RIICO’s foundational work, the industrial map of Rajasthan would look vastly different and far less structured.
A Financial Facilitator and Investment Partner
Beyond its infrastructure role, RIICO serves as a significant financial institution offering a wide array of services crucial for nurturing new and existing enterprises. The organisation provides term loans to industries, especially to small and medium enterprises (SMEs), which often struggle to secure adequate funding from conventional banks. Overall, RIICO has facilitated investments totalling approximately Rs. 98.65 billion. Its share of term loans amounts to around Rs. 40.86 billion.
These loans are structured to meet various capital requirements, including land purchase, building construction, and machinery acquisition. Furthermore, RIICO actively participates in the equity capital of promising industrial projects, acting as a direct investment partner. This dual role—as a lender and an investor—demonstrates RIICO’s commitment to derisking projects and encouraging entrepreneurial activity. By providing this crucial financial backbone, RIICO helps translate entrepreneurial visions into tangible economic realities, making the process of starting a business in Rajasthan significantly smoother.
These investments have generated employment for about 113,000 individuals. Moreover, the net profit of RIICO for FY 2021-22, 2022-23, and 2023-24 stood at Rs. 6022.50 million, Rs. 7520.60 million, and Rs. 7961.70 million, respectively.
Driving Sectoral Growth and Policy Implementation
RIICO is instrumental in implementing the state government’s industrial policies and driving sectoral diversification. It works closely with the government to translate overarching economic goals into actionable ground-level initiatives.
For instance, RIICO plays a key role in the promoting specific, high-potential sectors by developing sector-specific industrial parks, such as those focusing on renewable energy in the solar-rich western parts of the state or the burgeoning automotive and engineering clusters near key transport corridors. It also organises investor awareness programs and global investment summits such as ‘Resurgent Rajasthan,’ positioning the state as an attractive investment destination on the national and international stage.
Thereby proactiveness of RIICO in championing new policy initiatives ensures that Rajasthan remains competitive and attuned to the evolving needs of the modern industrial landscape, thus reinforcing the pivotal nature of RIICO to the state’s long-term economic strategy.
Conclusion: RIICO – A Legacy of Industrial Excellence
In summary, the story of industrial growth in Rajasthan is inextricably linked to RIICO’s tireless work. From being the meticulous planner that lays out the roads and plots of industrial estates to the strategic financial partner that funds machinery and expansion, RIICO covers the entire spectrum of industrial development. Moreover, its legacy is visible in the hundreds of successful manufacturing units and the thousands of jobs created across the state. Furthermore, as Rajasthan moves closer to becoming an industrial powerhouse, RIICO will serve as a reliable engine. It will drive innovation, attract investment, and support a sustainable and prosperous future for the state’s economy.