RIICO Unveils Fast-Track Land Allotment Scheme for Investors Post 'Rising Rajasthan' Summit

Rajasthan State Industrial Development and Investment Corporation Ltd (RIICO) has launched the Direct Land Allotment Scheme to swiftly allocate affordable industrial land to investors. This follows the 'Rising Rajasthan' Global Investment Summit 2024, attended by industry leaders and diplomats, which secured significant investment commitments for the state.

The Rajasthan State Industrial Development and Investment Corporation Ltd (RIICO) has approved a new Direct Land Allotment Scheme aimed at accelerating the allocation of industrial land to investors. This initiative comes on the heels of the 'Rising Rajasthan' Global Investment Summit 2024, following which numerous investment proposals were pledged to the state government.

An online portal has been developed by RIICO for streamlined plot allotment applications, enabling investors to apply swiftly using their SSO ID. The summit, held in Jaipur from 9 to 11 December 2024, saw participation from global business leaders and was inaugurated by Prime Minister Narendra Modi.

The Government of Rajasthan seeks to transform the secured investments into operational projects while attracting further capital. The introduction of ten new policies, including the MSME Policy-2024, Export Promotion Policy-2024, and One District One Product Policy-2024, underscores this commitment.

Ajitabh Sharma, Principal Secretary of Industries and Commerce and Chairman of RIICO stated that these measures address longstanding investor demands for direct and affordable land allotment. Inderjeet Singh, RIICO MD, highlighted that the scheme ensures transparency and prioritization based on a merit system for eligible investors.

Among its features, eligible investors can apply online for up to three plots, which will be evaluated based on criteria such as proposed capital investment and employment generation. For MSMEs, 50% of new industrial area land is reserved, with allotment through an e-lottery system.

An evaluation process will be conducted, favoring projects proposing maximum investment in the event of identical applications. Investors can anticipate a transparent and timely resolution for land allotment within RIICO's industrial areas.

(With inputs from agencies.)