The Rajasthan government has launched the Rajasthan Investment Promotion Scheme (RIPS) 2024 to encourage private investment and fuel economic growth across multiple sectors. This flagship scheme, an upgrade to RIPS 2022, comes just before the ‘Rising Rajasthan’ Global Investment Summit 2024 scheduled for December 9–11 in Jaipur, showcasing Rajasthan as a top investment destination.
Key Objectives of RIPS 2024
The primary aim of RIPS 2024 is to attract more private investment by offering substantial financial incentives across an expanded range of industries, from emerging “sunrise sectors” to traditional manufacturing and services. The scheme targets new and existing businesses to strengthen Rajasthan’s economy.
Expanded Sector Focus in RIPS 2024
RIPS 2024 now supports sunrise sectors such as Aero & Space, Defence, Drones, Semiconductors, Agri-Tech, and Waste Recycling. The scheme also extends to new manufacturing areas like Construction Equipment, Pumped Hydro Storage Manufacturing, and Electrolyser Manufacturing, alongside key service sectors such as Higher Education, Knowledge-based industries, and Vocational Training.
Enhanced Financial Incentives
To further attract investors, RIPS 2024 introduces special incentives:
- Sunrise Booster: The first three mega or ultra-mega projects in sunrise sectors can avail of an extra 25% incentive over capital and turnover-linked subsidies.
- Additional Incentives: Businesses in new sectors can receive an additional 10% incentive above standard asset creation subsidies.
- Targeted Support: Increased incentives for IT/ITeS companies, tourism businesses, and women-led startups underscore the scheme’s inclusive approach.
Strategic Economic Goals and Upcoming Summit
Through investment Memorandums of Understanding (MoUs) valued at ₹15 lakh crore, Rajasthan aims to strengthen its appeal as an investment hub. The ‘Rising Rajasthan’ Global Investment Summit 2024 will bring together domestic and international investors, industry leaders, and government officials to discuss future opportunities and showcase RIPS 2024’s offerings.
RIPS 2024 Incentives and Focus Areas
| Focus Area | Details |
| Sunrise Sectors | Aero & Space, Defence, Drones, Semiconductors, Agri-Tech, Waste Recycling |
| New Manufacturing Areas | Construction Equipment, Pumped Hydro Storage Manufacturing, Electrolyser Manufacturing |
| Expanded Service Sectors | Higher Education, Knowledge-based industries, Vocational Training |
| Incentives for Specific Units | 25% Sunrise Booster for first three mega or ultra-mega projects in sunrise sectors |
| Additional Incentives | 10% more incentive for new sectors beyond asset creation subsidy |
| Special Support | IT/ITeS, tourism businesses, and women-led startups |
Rajasthan’s RIPS 2024: New Investment Scheme -Summary
- Rajasthan Investment Promotion Scheme (RIPS) 2024 introduced to enhance private investment.
- Sunrise Sectors: Expanded focus on Aero & Space, Drones, and more.
- Enhanced Incentives: Special booster for first mega projects and extra support for IT/ITeS, tourism, and women-led startups.
- Global Investment Summit 2024: Event in Jaipur from December 9-11 to attract investors globally.
Also Read Latest Current Affairs 2024
FAQs on Rajasthan Investment Promotion Scheme (RIPS) 2024
RIPS 2024 is Rajasthan’s new investment scheme offering financial incentives across a wide range of sectors to attract private investment.
Sunrise sectors in RIPS 2024 include Aero & Space, Defence, Drones, Semiconductors, Agri-Tech, and Waste Recycling.
The Sunrise Booster gives an additional 25% incentive on capital subsidy and turnover-linked subsidies to the first three mega or ultra-mega projects in sunrise sectors.
RIPS 2024 includes incentives for Higher Education, Knowledge-based industries, and Vocational Training in its expanded service sector focus.
Women-led startups receive extra incentives under RIPS 2024 to promote inclusivity and growth in Rajasthan’s investment landscape.
The Rising Rajasthan Global Investment Summit, happening December 9–11, 2024, is a major event in Jaipur aiming to attract domestic and international investments to Rajasthan.
Rajasthan has signed MoUs worth ₹15 lakh crore as part of the Rising Rajasthan initiative to foster economic development in the state.
