Jaipur, Dec 9 (IANS) Prime Minister Narendra Modi on Monday inaugurated the Rising Rajasthan Global Investment Summit in presence of esteemed guests including renowned industrialists, investors and ambassadors from different countries. Making an inaugural address, he said that Rajasthan was not only rising but was also reliable and receptive. "Rajasthan knows how to refine itself with time. Rajasthan stands synonymous to combating challenges. Rajasthan is the name of creating new opportunities. “One more name has been added to this R factor of Rajasthan. The people of Rajasthan have formed a responsive government with a huge majority. “Bhajan Lal and his team have done a great job. Today is another important day in the development journey of Rajasthan,” he said. He added, “The priorities of the governments after Independence were neither development nor heritage. Rajasthan suffered a huge loss due to it. But today, our government is working on the mantra of 'Vikas bhi, virasat bhi'...Rajasthan is rising but also reliable. Rajasthan is receptive and also known for refining with time.”

PM Modi also termed the people of Rajasthan as large hearted and said, “I have always believed that when the states develop, the country will also develop. When Rajasthan reaches new heights of development, the country will also develop. Rajasthan is the largest state in terms of area. Similarly, the hearts of the people here are also as big. “The hard work of the people here, their honesty, their will power to achieve the toughest goals, the feeling of keeping the nation supreme, the inspiration to do anything for the country, you will see this in every dust and particle of Rajasthan." He said that the development India has achieved by following the mantra of ‘Reform, Perform, Transform’ is visible in every sector. “In the seven decades after Independence, India had become the eleventh-largest economy of the world. Now in the last ten years, India has made its economy the fifth-largest economy. On this occasion, India has almost doubled the size of its economy,” he said in his inaugural address.

"India's exports have also almost doubled in the last ten years. Compared to the decade before 2014, FDI (Foreign Direct Investment) has also more than doubled in the last decade. During this time, India has increased the expenditure on infrastructure from about three lakh crore rupees to eleven trillion,” he said, adding, "The power of democracy, population, digital data and delivery, is clear from India's success. A strong democracy in a diverse country like India is an important reason for its success." PM Modi said that democracy is flourishing in a diverse country like India and is becoming strong and this is a great achievement in itself.

“Today the people of India are voting for a stable government in India through their democratic rights,” he said. In his welcome speech, CM Sharma said that even before the summit, the government had signed MoUs with various companies worth Rs 35 lakh crore. “Rajasthan and its people will directly benefit from these investments. Now, along with agriculture, industries will also get adequate water. We have organised the summit in the first year so that in the next four years we can bring investment on the ground,” he said. Further, the Adani Group on this occasion announced to invest Rs 7.5 lakh crore in Rajasthan.

Karan Adani, Managing Director of Adani Ports and SEZ Ltd said, “Four new cement plants will be set up in Rajasthan. The Adani Group will invest Rs 7.5 lakh crore in different sectors in Rajasthan. As much as 50 per cent of this investment will be made in the next five years. In this, we will develop a green energy ecosystem. Apart from this, world-class development work will also be done at Jaipur airport.”

Anil Agarwal, who came to attend the summit said, “Our company is getting a lot of support from the double engine government of the BJP. I also urge other companies to invest in Rajasthan. Vedanta Resources Limited will invest one lakh crore rupees in Rajasthan.” Industrialist Anand Mahindra started his speech by saying 'Khammaghani'. He said, “As soon as I reached Jaipur today, the picture of stepwells emerged in my mind. These stepwells are proof of innovation. This shows the specialty of the people of Rajasthan. Innovative people of Rajasthan are not only in the country but also abroad.”

/IANS