“Local entrepreneurs and companies to get chance for investment in Rajasthan”, Anil Agarwal
“Rajasthan is a State blessed with abundant mineral resources that can create millions of jobs for the citizens of the State and eradicate poverty” said Anil Agarwal, Chairman of Vedanta Group during the Resurgent Rajasthan Summit held today in Jaipur.
Rajasthan is another Canada and Australia and can even become England of India the way Rajasthan is progressing. The level of cooperation Vedanta has received from the State Government of Rajasthan and particularly the Chief Minister, Vasundhara Raje has encouraged Vedanta to invest and expand its businesses in Rajasthan. Rajasthan has abundance of natural resources waiting to be explored and utilized in most sustainable manner, Agarwal said.
Vedanta has oil & gas and zinc-lead-silver business in Rajasthan. Cairn India is producing about 30% of oil and Hindustan Zinc is a global leader in zinc business. Vedanta has signed an MoU to invest more than Rs. 20,500 crore in Rajasthan in oil & gas and zinc businesses. The expansion is to be completed in next 3-5 years, which is expected to generate an additional 7000 employment.
Vedanta chief emphasized that the need is for quick clearances, simplified policies and minimum governance. Many countries have grown by capitalizing what is “below the earth” and what is “above the earth”. The natural resources, “below the earth’, have played an important role in building economies of a many countries.
“Our import bill is over USD 600 billion. The only way to reduce the import bill is it to increase domestic production. Rajasthan has Rock Phosphate, Potassium, Oil & Gas, Zinc, Lead, Silver, marble and may more minerals. Auction is the best option to utilize these minerals that would only help the economy, reduce the import bill and create jobs, thereby help in eradicating poverty” Agarwal said.
Rajasthan local entrepreneurs and companies will come forward towards utilizing these natural resources and all Corporate would help the government. Anil Agarwal emphasized that marble industry needs expansion and has the capacity to provide employment opportunities to millions of people by way of direct investments and also by way of developing SMEs.
Silver Park is something that Anil Agarwal is keen to develop in Rajasthan. “Whatever silver Hindustan Zinc is producing can be utilized by SMEs for creating further products and employment” he said.
Anil Agarwal finally urged the government to look into the industry issues and resolve them in the interest of the nation. The world is waiting to invest in Rajasthan.