RIICO | Rajasthan State Industrial Investment and Investment Cooperation

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Role of Different Corporations in Industrial Development

  • There are various organizations which are supporting or associated with Industrial Development of Rajasthan.
  • There are State organizations as well central organizations to assist Industrial Development of Rajasthan.
  • State Organizations: Those organizations which mainly focused on the Rajasthan's Industrial Development. 
  • Such as, RIICO(which we will discuss in this article), RFC(Full-form : Rajasthan Financial Corporation) and RAJSICO(Full-form : Rajasthan Small Industries Corporation), 'Khadi and Village Industries Board' and 'Handloom Development Corporation' .
  • Central Organizations: Those organization who assist in the development of industries at the state-level. 
  • Such as, SISI(Small Industries Service Institutes), IDBI(Industrial Development Bank of India), IFCI(Industrial Finance Corporation of India) RAJCON(Rajasthan Consultancy Organisation).

RIICO :

  • RIICO - Rajasthan State Industrial Development and Investment Corporation LTD. 
  • It was established in 1969. 
  • It got seperated from Rajasthan State Mineral Development Corporation (RSMDC) in 1979. 
  • RIICO has been registered under 'Indian Companies Act of 1956' as pulic corporation with limited liability. 
  • RIICO's main functions are : 
    • Identification of Projects 
    • Obtaining 'Letters of Intent' or 'Industrial License'.
    • Implementation of Projects jointly with private sector entrepreneurs or alone on its own.
    • Promoting and Operating the schemes of Industrial Development in Rajasthan.
    • Preparing Project Profiles (detailed information about the Project).
    • Blue-prints of Projects and Reports of Projects.
    • and RIICO has function to provide consultancy.
    • Acquisition of land(acquisition - obtaining or buying).
    • Development of Industrial Area.
    • Allotment of land for industrial plots and sheds for the establishment of industries. 
    • To provide assistance to industries in the form of 
      • Underwriting of Public Issues.
      • Grant of Term Loans, Seed Capital, Interest free loans in lieu o Sales Tax, etc. 
Thus, RIICO performs a number of functions related with the Industrial development of Small, Medium and Large Scale Industries. 
It provides infrastructure facilities of power, transport, water, etc., in Industrial Areas developed by it. 
It participates in the equity capital and gives term loans as well. 
Its role in preparing project profiles and project reports. 

Resources:

  • Financial Resources of RIICO are based on 
    • Its own share capital
    • loan-funds(debantures, bonds, refinance facility from IDBI/SIDBI)
    • Loans from the Govt. of Rajasthan
    • RIICO's own reserves and surpluses
  • Rajasthan Electronics LTD. was a subsidiary of RIICO. 
    • Set-up in 1985.
    • Set-up because to carry on business related with all types of Audio, Video, Radio and RV systems, etc. 
    • It was closed on 28th February, 2011.
    • Prestigious and Important Electronics Projects are: 
      • Allied Electronics and Magnetics Ltd. Udaipur (For Floppy Diskettes)
      • Rajasthan Electronics & Instruments Ltd., Jaipur (For Electronic Milk Analyser)
      • Samtel India Ltd., Bhiwadi (For TV picture tubes) 
      • Bahubali Electronics Ltd., Ajmer (For Audio Magnetic Tapes)
      • Samcor Glass Ltd., Kota (For TV Glass Shells)
Industrial Areas &  Other Schemes
    • Till March-end 2018, 342 industrial areas have been developed by RIICO.
    • 38, 770 industrial units were set up in them. 
    • Works:
      1. Kakani in Jodhpur and Stone Park, Masalpur in Karauli Tehsil (Sawai Madhopur unit office) have been developed. 
      2. Neemrana (located on National Highway no. 8) is being developed as a show-window of Rajasthan.
      3. Growth Centres being implemented in :
        1. Bikaner
        2. Bhilwara
        3. Jhalawar
        4. Dholpur
          1. Three Split Growth Centre projects are under progress:
            1. Karni (Bikaner)
            2. Palsana (Sikar)
            3. Parbatsar (Nagaur)
          2. Abu Road growth centre has already been completed.
      4.  Under the scheme of Integrated Infrastructure Development (IID) of Government of India : 9 projects are being implemented at :
        1. Sangaria (Jodhpur)
        2. Nagaur
        3. Kaladwas (Udaipur)
        4. Niwai (Tonk)
        5. Falna (Pali)
        6. Hindaun City (Karauli)
        7. Baran
        8. Bayana (Bharatpur)
        9. Khushkhera (Alwar)
        10. Kishangarh (Bikaner)
        11. Shilpgram (Jodhpur)
        12. Bichhwal (Bikaner)
        13. Palsana (Sikar)
      5. For Mini Growth Centres 
        1. Cost for each centre -  Rs. 5 Crore (estimated)
        2. It is centrally-sponsored plan schemes.
      6. Export Promotion Industrial Park (EPIP) has been developed at Sitapura, South of Jaipur near Sanganer Airport. And second EPIP is being developed at Boranada, Jodhpur.
        1. It is developing through REIL.
          1. A Software Technology Park at Kanakpura, Jaipur
      7. An Electronic Hardware Park at Kukas, Jaipur is being established.
      8. Gold Jewelry Complex at Sitapura, Jaipur is also being established.
      9. RIICO had initiated a new scheme of Udyog Shri.
        1. Objective - To attract professionals who possess/have knowledge, experience and entrepreneurial/fianance/money ability to participate in the process of Industrial Development through their own ventures(risk).
        2. RIICO would provide equal support or participation in the share capital of these projects which will be important areas of high returns.
    CONCLUSION - RIICO is playing the role of catalytic for Industrial Development 
    • by Developing Infrastructure facilities in Industrial Areas
    • by providing Financial Assistance, especially in the form of term-loans; by trying to attract investors through Industrial Campaigns and by preparing project-profiles and reports.
    There must be genuine efforts towards Industrial Liberalization. 
     
     
     

      Location: Delhi, India

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