Rajasthan has over the years showcased it is more than just a state of grand old palaces and rich local culture. It is just a matter of time when its access to global markets, presence of qualified human resources, superior logistics, robust infrastructure, and positive business environment will make Rajasthan a favored destination for investors.
The state holds huge potential for MSME industries, which are an indispensable component of competitive economies.
Loan Scheme for First Generation Entrepreneurs: Term Loans are extended to entrepreneurs up to 1000 crores INR. This scheme is implemented by Rajasthan Financial Corp. Read more here >
Capital Investment Subsidy for Cold Storage: Capital Investment Subsidy for the Construction/Expansion/Modernisation of Cold Storages and Storages for horticulture produce, is given by National Horticulture Board to the extent of 25% of the project cost subject to a maximum of Rs. 50 lacs. The promoter’s contribution should be minimum 25% of the project cost and Term Loans are provided by Banks through NABARD. An entrepreneur can avail either this or the other subsidy being given by Rajasthan State Agriculture Marketing Board. Read more here >
Rajasthan Investment Promotion Scheme – 2014: This policy provides subsidy to new enterprises. Read more here >
Rajasthan MSME Policy 2015: Some of the benefits under the new policy are:
Credit up to a maximum of Rs. 5.0 crore can be availed by young entrepreneurs (up to age 45 years) for setting up a new enterprise, with interest subsidy of 6% applicable up to a maximum credit limit of Rs. 90 lakh, under the Yuva Udyamita Protsahan Yojna of RFC.
Support For Start-Up Business and Budding Entrepreneurs: To assist start-up ventures and budding entrepreneurs plug and play facilities will be encouraged to be set, especially in the sectors of IT, Garment-making, Electronics and ESDM so that the new entrants in these fields may have access to easy entry and exit facilities for immediate starting their business venture.
Interest subsidy would be provided to unemployed youth, women, educated and unemployed women and S.C., S.T. and Specially-abled Persons for setting up micro enterprises, as per the provisions contained in the Bhamashah Employment Generation Scheme, 2015, as notified by the State Government
With a view to encourage SMEs to raise funds through this route, assistance will be provided to the extent of 10% of the expenditure incurred, subject to a maximum of Rs. 2.5 lakh one time after successful raising of equity.
Rajasthan Start-Up Policy 2015: The government will support and incubate 500 start-ups from state and create a 10,000 sq/feet incubation centre. Start-ups at launch stage will be provided with a sum of INR 1000000 as a marketing assistance.
Rajasthan State Innovation Center (RSIC) has been set up by the Government of Rajasthan on the lines of the National Innovation Council (NIC) with the intention of suggesting efficient, sustainable and cost-effective innovative solutions, for good governance and for the overall economic development of the State.
Prime Minister’s Employment Generation Programme (PMEGP): Under this programme, financial assistance is provided for setting up of micro enterprises each costing up to Rs. 10 lakh in service sector and Rs. 25 lakh in manufacturing sector. The assistance is provided in the form of subsidy upto 25 percent (35 percent for Special category including weaker sections) of the project cost in rural areas while it is 15 percent (25 percent for Special category including weaker sections) for urban areas. Read more here >
Rajasthan Institute of Engineering & Technology: Entrepreneurship Development Cell-to nurture entrepreneurship among student community. Read more here >
Maharshi Dayanand Saraswati University Ajmer: The institute offers a BBA in Entrepreneurship & family business. It nests Center for Entrepreneurship and Small Business Management (CESBM) which conducts entrepreneurship development program, entrepreneurship awareness camps, graduate and post graduate programs in entrepreneurship and skill development programs. Read more here >
JK Lakshmipat University: They offer an MBA in Family Business & entrepreneurship. Read more here >
Career Point University Kota: They offer MBA in Entrepreneurship and Family Managed Business (EFMB). Read more here >
IIT Jodhpur- Entrepreneurship Cell: Entrepreneurial mind-set creation and conducting entrepreneurship development events. Read more here >
IIM Udaipur: The institute has created Management Development Program for Women Entrepreneurs to encourage, empower and educate potential women entrepreneurs.
Saksham is the entrepreneurship club of IIM Udaipur which aims to encourage and support entrepreneurial ambitions of students. Read more here >
Entrepreneurship Development Division – Department of Science & Technology, Govt. of Rajasthan: Entrepreneurship Development Programme is being organized by the department through various agencies like engineering colleges in the state. Some of the colleges are Rajasthan Technical University & Engineering College, Kota, Centre for Entrepreneurship & Management & Development Centre MDS University, Ajmer MLV Textile Institute, Bhilwara, and College of Technology & Agriculture Engineering etc. Read more here >
In Summary – Rajasthan and Entrepreneurship:
The State is making all kinds of efforts to promote entrepreneurship, and we see an increasing number of private players setting up education institutes and skilling centres that will help further the cause of entrepreneurs in Rajasthan. Simply put, this is a state to keep an eye out for in the future.
To know more about how Rajasthan is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Rajasthan: