Rajasthan launches RIPS 2024 to boost private investment with enhanced incentives across key sectors
To encourage private investment, the Rajasthan government has introduced the Rajasthan Investment Promotion Scheme (RIPS) 2024, offering expanded financial incentives across a broader range of sectors. The flagship initiative, launched in anticipation of the ‘Rising Rajasthan’ Global Investment Summit 2024, enhances the previous RIPS 2022 by supporting more sectors and increasing financial aid for new and existing industries, according to an official release.
RIPS 2024 now includes sunrise sectors, manufacturing, and services thrust sectors, while boosting incentives for tourism, IT/ITeS companies, and women-led startups, noted Principal Secretary (Industries) Ajitabh Sharma. In addition to existing sunrise industries, the scheme now covers Aero & Space, Defence, Drones, Semiconductors, Agri-Tech, and Waste Recycling, offering broader support for emerging fields.
The first three mega or ultra-mega units in these sunrise sectors will qualify for a 25% additional ‘sunrise booster’ on capital subsidies, turnover-linked incentives, or investment subsidies. New sectors are also eligible for an additional 10% incentive on top of asset creation benefits.
In manufacturing, RIPS 2024 adds Construction Equipment, Pumped Hydro Storage, Electrolyser Manufacturing, and Metals, while Higher Education, Knowledge-Based Industries, Vocational Training, and Skilling are newly included in the services sector.
Chief Minister Bhajanlal Sharma recently announced that Rajasthan has signed investment MoUs worth ₹15 lakh crore ahead of the Rising Rajasthan summit, set to take place in Jaipur from December 9 to 11.
