Rajasthan Has a Great Opportunity
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Rajasthan Has a Great Opportunity

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Rajasthan Has a Great Opportunity

Sujith Vasudevan, Managing Editor, 0

India has the potential to become a global manufacturing hub, and by 2030, it can add more than US$ 500 billion annually to the global economy. As per the economic survey reports, estimated employment in the manufacturing sector in India was 5.7 crore in 2017-18, 6.12 crore in 2018-19, and 6.24 crore in 2019-20. India's display panel market alone is estimated to grow from ~US$ 7 billion in 2021 to US$ 15 billion in 2025. Remember, according to a recent NASSCOM report, by 2025, India is expected to have 200 unicorns with a cumulative valuation of $600-700 billion. It would take the collective efforts of the governments and the business community.
Wipro Infrastructure Engineering has made use of this favorable ecosystem by signing a Memorandum of Understanding with the Government of Rajasthan for setting up a manufacturing facility to make hydraulic cylinders and allied products is a solid testament. This facility is expected to come up in Jaipur with a proposed investment of Rs. 200 crore and create ample employment opportunities. Additionally, equipment production company Normet recently opened its largest production hub outside of Finland in Jaipur, India.

The facility covering around 10 acres, including a 150,000 sq ft factory, will be a Centre of Excellence (CoE) and a Global Technology & Production Hub and will be home to an equipment production facility, service, and rebuild center, paint shops, R&D center, proto shop, test track and technology training center for operations and maintenance serving markets & customers across the world. If played its chances right, Rajasthan has a great opportunity to become a manufacturing hub in the near future.