What is (RIICO) Rajasthan State Industrial Development & Investment Corporation Ltd
RIICO, Rajasthan State Industrial Development & Investment Corporation Ltd is a state-owned public sector undertaking company, headquartered in Jaipur, Rajasthan, India. It was established in 1980 to promote industrial development and investment in the state of Rajasthan. RIICO is one of the largest investors in the state with a portfolio of around 1,000 projects across a wide range of sectors including textiles, food processing, power and renewable energy, metals and mining, medical devices and chemicals. It has also developed Jaipur into an important business hub and has created over 100,000 jobs in Rajasthan since its inception. In this blog post, we will discuss RIICO and its future plans.
Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) Overview
The Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) was established on 1st January 1980 with the objective to promote industrial development in Rajasthan and creating employment opportunities. The Corporation has been mandated with the following tasks:
-To undertake corporate and financial restructuring of public sector undertakings;
-To provide industrial finance through concessional/non-concessional credit, export credit, and guarantees;
-To provide inputs for setting up new industries and facilities;
-To develop new industrial areas and industrial clusters in Rajasthan
-To identify potential areas for investment by private investors in partnership with Government;
-To scout for Foreign Direct Investment (FDI) projects.
Industrial Area Developed by RIICO Rajasthan
RIICO has so far developed 390 Industrial Areas in Rajasthan by acquiring around 89000 acres of land. RIICO is a state-owned industrial development corporation have 30 regional offices. Riico has developed industrial areas in almost all small cities of Rajasthan and also developed 2 Japanese and Korean Industrial Zone. Under the supervision of RIICO Rajasthan has become an automobile parts hub.
How to Buy Industrial Land /Plot from RIICO
If you are looking for industrial land in Rajasthan, RIICO and Industrialplot.com can help you find what you are looking for. RIICO has a large database of industrial land available for sale or lease. You can find large or small industrial land in Rajasthan through Riico or through Private Market.
Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) Achievements
Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) is the state-owned investment and development corporation of Rajasthan. It was established in 1980 to promote industrialisation and growth in the state. RIICO has a portfolio of development projects, including power, petrochemical, textile, tourism and information technology and development on industrial parks. The corporation has developed a number of industries in Rajasthan, including aluminium smelting, cotton textiles, pharmaceuticals, food processing and engineering. RIICO has also invested in IT infrastructure and greenfield projects.
Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) Areas of Focus
RIICO is a public sector company established to promote industrial development and investment in Rajasthan. The company has four areas of focus:
1) Fertilizer Industry
2) Textile Sector
3) Food Processing
4) Automotive Components
5) Gems & Jewellery
Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) Future Plans
Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) is an autonomous body. It was established in 1980 with the primary objective of accelerating industrial development in the state by making available critical resources and facilitation facilities to small-scale industries. The major aim of RIICO is to generate employment opportunities and improve the socio-economic conditions of people residing in rural and semi-urban areas.
RIICO so far has developed 390 industrial parks in Rajasthan, and now RIICO is planning to launch new 150 industrial parks in the next 2-3 years, in 2025 in Rajasthan. The corporation has identified 10 priority sectors for development including power generation, food processing, information technology/IT services, automobiles/motorcycles/bicycles, construction materials/services, furniture/furnishings, chemicals/pharmaceuticals, agricultural produce processing etc. In order to provide economic stimulus to these priority sectors RIICO Plans to set up R&D institutes and skill training programmes. A number of infrastructure projects are also envisaged such as setting up greenfield industrial parks, widening and upgradation of handicraft roads connecting villages with city centres etc.
Conclusion
Rajasthan is emerging as the new Industrial hub of India due to its close proximity with NCR and Maharashtra. Rajasthan is a mineral-rich state and now the Petrochemical industry is also booming here. Bhiwadi region is emerging as an auto ancillary hub of India. You can invest in Rajasthan and can set up your business here.
