The Bharatiya Janata Party government in Rajasthan announced plans to host an investment summit in Jaipur later in the year, aimed at supporting industries and advancing solar power development.

It was reported by sources within the Industries Department and the Bureau of Industrial Promotion (BIP) that preparations had commenced for the summit on a significant scale. BIP, being the key agency responsible for investment promotion and facilitating single-window clearances in Rajasthan, is actively involved in the planning.

As per insider information, the responsibility for organizing the summit is expected to be delegated to a company based in Mumbai.

BIP has also initiated preparations and is contemplating partnering with a national business chamber such as ASSOCHAM, FICCI, or CII for the event. The summit agenda, as revealed by sources, would encompass discussions on investments across more than 30 sectors including energy, chemicals and petrochemicals, cement, medical and health, mines and minerals, pharmaceuticals, handicrafts, and tourism.

The Rajasthan Invest Summit in 2022 was conducted under the leadership of Congress leader Ashok Gehlot's government, which was subsequently voted out of power the following year.

During the 2022 summit, companies entered into over 4,000 memoranda of understanding (MoU) with the state government, pledging investments exceeding Rs 10.44 trillion. It was stated at the time that the state had attracted investments totalling Rs 1.93 trillion over the years, promising employment opportunities for 200,000 individuals.

For this year's summit, BIP, in collaboration with the Industry Department and the Rajasthan State Industrial Development and Investment Corporation, intends to extend invitations to prominent Indian and multinational corporations.

The organisers are anticipated to commence investor outreach activities in June, with plans underway to draft a schedule detailing the locations for roadshows and meetings.

Despite long-standing endeavors to foster industrial growth in Rajasthan, progress has been limited. The primary obstacle identified is the state's reliance on external sources for electricity. Accordingly, it is believed that the summit will place emphasis on solar energy as a solution to this challenge, according to sources.