HOW CM BHAJAN LAL SHARMA USING A CEO-STYLE PLAYBOOK TO REPOSITION RAJASTHAN AS NEW INVESTMENT HUB

For the majority of Indians, Rajasthan conjures up pictures of havelis illuminated by desert sunsets, forts rising out of golden plains, and gemstone marketplaces in ancient quarters.

- SHEHZAD POONAWALLA

Rajasthan CM Bhajan Lal Sharma

Almost 15% of the state's GDP, which is among the highest in the nation, came from tourism. However, this very success had a side effect, Rajasthan was much too frequently seen as a tourist or cultural destination rather than as a significant center for investment.

Even in bureaucratic circles, this long-internalized perception is currently being subtly revised. Chief Minister Bhajan Lal Sharma, who has spent his first year in office acting less like a typical politician and more like a CEO seeking to reposition a legacy corporation for a new market, is the driving force behind this change.

With an abundance of land, close proximity to Delhi-NCR, one of India’s fastest-growing renewable corridors and substantial mineral deposits, Rajasthan has always had the foundation for large-scale investment. However, in terms of turning potential into capital inflows, it trailed behind coastal states. Instead of using catchphrases, CM Bhajan Lal Sharma’s government has decided to use a systematic economic approach to address that disparity.

The concept is straightforward, Rajasthan has to be viewed as a place worth investing in rather than just as a place to visit.

Rajasthan has committed Rs 1.80 lakh crore in investments over the last year through sector-specific engagements and outreach initiatives. One of the biggest increases for a non-coastal state competing against major manufacturing centers was the 17% increase in Industrial Entrepreneur Memorandum submissions. Engineering items, textiles, stones and chemicals made up the majority of export cargo, which totaled 82,000 crore.