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Rajasthan Attracts Big Players   The chilly winds have flown in with a new wave of investments in Rajasthan. As Mahindra & Mahindra set the centre stage with the World City, both Infosys and Wipro arrived at the Pink City with big future plans.   Like every winter, this year too Rajasthan attracted numerous visitors… but this time, of a different kind — Chairman of the Board and Chief Mentor of Infosys, Mr. N. R. Narayana Murthy; Member of the Board and Director of Human Resources, Infosys, Mr. T.V. Mohandas Pai; CEO and MD of Infosys BPO, Mr. Amitabh Chaudhry; Chief Operating executive, Wipro Technologies, Mr. A. Lakshman Rao; Mahindra Group Chairman, Mr. Keshub Mahindra; Vice Chairman & Managing Director, Mahindra & Mahindra Ltd., Mr. Anand Mahindra; Executive Director of Mahindra & Mahindra Ltd. and President of Infrastructure Development Sector, Mr. Arun Nanda. The cream of India's corporate world was on a visit to the Pink City this December, to anchor it as its next investment destination, as Jaipur saw the launch of one of the largest investment zones in India.     From L to R: Mr. Arun Nanda, Executive Director of Mahindra & Mahindra & President of Infrastructure Development Sector; Mr. Anil Vaish, Chief Secretary, Rajasthan; Dr. A. Lakshmam Rao, Chief Operating executive, Wipro Technologies Mr. Keshuv Mahindra, Mahindra Group Chairman; Smt. Vasundhara Raje, Chief Minister of Rajathan; Narayana Murthy, Chief Mentor of Infosys; Mr. Narpat Singh Rajvi, Minister of Industry; Mr. Anand Mahindra, Vice Chairman & MD, M & M   On December 16 2006, Honourable Chief Minister of Rajasthan, Smt. Vasundhara Raje laid the foundation of Mahindra World City (MWC), Jaipur. Spread over an area of 3,000 acres, the World City is a Special Economic Zone (SEZ), designed to provide a world class platform for corporates to expand business and compete globally. It is a golden opportunity for Rajasthan to become the most sought-after investment centres in the country. On the occasion, Smt. Vasundhara Raje said that the need of the hour was employment generation and investment, and the foundation of Mahindra World City was a watershed event in the state's development plans. It would change the way investors viewed the state and would attract investments thereby creating numerous job opportunities. The SEZ is a joint venture between Mahindra Gesco Developers Ltd., a Mahindra Group Company and Rajasthan State Industrial Development and Investment Corporation Ltd. (RIICO). The MWC is being developed as a multi-product Special Economic Zone on the format of an “Integrated Business City”. In phase I of the development, an IT and IT enabled services special economic zone is planned on 190 acres for which approval has already been received from the Government of India. Mahindra has also received an in-principle approval to set up multi-product special economic zone. In the next phase of development, MWC will offer facilities for industries from various sectors such as auto ancillary, apparel & textiles and gems & jewellery. Overall, the World City is expected to generate employment for about 9,000 people.   [ Top ]     Sealing the Deal: Mr. A Lakshman Rao of Wipro signing the agreement with Mr. Arun Nanda of M&M. Also present in the pic are Smt. Vasundhara Raje (seated second from right), Mr. Narpat Singh Rajvi (seated extreme right) and Mr. Keshub Mahindra (seated extreme left)   Being planned by Jurong Consultants, Singapore and established on standards at par with the Mahindra's Chennai City, the project benchmarks international class. It will have all state-of-the-art facilities and an inland container depot. Mr. Keshub Mahindra, Chairman, Mahindra Group, was delighted to be in Jaipur for the project. He said that SEZs have an important role to play for India to emerge as a manufacturing super power. M&M's World City projects across the country are a step towards addressing this need. Anand Mahindra, Vice President and Managing Director, Mahindra & Mahindra Ltd. also said that the World City would provide Rajasthan and the entire northern region a platform for future development and attract global companies to set up base in Jaipur. Designed to attract world-class corporates, Mahindra World city is an innovative investment platform which will create a 'plug-in and play' environment for them, a place where work, residence and leisure are integrated in one area.   Senior Directors of Mahindra & Mahindra with Mr. Anand Mahindra, Vice Chairman & MD of M & M, at the Foundation Stone laying ceremony   Soon after the grand launch of Mahindra's World City in Jaipur, there were the announcements by IT giants — Wipro and Infosys — to invest in the World City. Wipro has signed a memorandum of understanding (MOU) with Mahindra World City for 100 acres of land in the SEZ, whereas, Infosys plans to invest a sum of Rs.4 billion.   Mr. Narayan Murthy, Chief Mentor, Infosys, looking at the Mahindra World City model   Mr. Arun Nanda, Executive Director of Mahindra & Mahindra Ltd. informed that Mahindra was creating 1 million square feet of office space for model offices as part of the project. In his speech, he said that this World City will be the ideal venue for Wipro's regional aspirations. Lakshman Rao, Chief Operating executive, Wipro Technologies remarked that Jaipur was today a new-age investment destination in North India, had abundant power, skilled human resource, and offered excellent road and rail connectivity. This would enable Wipro to benefit from the facilities being offered by Mahindra World City, which has pioneered the SEZ experience in India. Wipro’s centre at MWC is to come up in two phases. The first phase will cover 25 acres that will have over a hundred thousand square feet of build up area and house over 1,000 employees.   MWC, Jaipur is the largest investment zone in the country after Mahindra's Chennai City. And with two of the biggest players in IT pitching in, Rajasthan promises a whole gamut of opportunities for corporate investors.   [ Top ]   Mahindra World City, Jaipur           Mahindra & Mahindra     The journey of Mahindra & Mahindra began as a mere franchisee for Jeeps way back in 1954. Today, it is a US$ 3 billion multi-sector business conglomerate. It has a strong presence in six sectors — Automotive, Farm Equipment, Telecom and Software, Trade and Financial Services, Infrastructure Development, and Systems and Technologies, in over eighty countries all across the world. After this project, the group plans to launch another World City at Pune.     Mahindra World City, Chennai Spread over 1300 acres Three special economic zones: IT Products & services, Apparel & Fashion Accessories Zone and Auto Ancillaries Zone State -of- the- art Domestic Tariff Area (DTA) Separate Social Residential Zone         A PROMISING CITY   World-class, one stop business destination Spread over 3,000 acres on the Ajmer Highway, with 2,500 acres of multi-product SEZ and 500 acres of Domestic Tariff Area Expected to generate employment for 9000 people Infosys to invest 5 billion in the World City Incorporates work, residence and leisure at one place

WIPRO PLANS   100 acre campus in Mahindra World City, Jaipur, that will be established in two phases   Phase I will be spread across 25 acres of land, with over 1 lakh square feet of built-up area   The campus will have a seating capacity for 1,000 employees

INFOSYS PLANS   Rs.0.9 to 1.5 billion to be invested in a BPO in the SEZ. Facility to accommodate up to 5000 employees   Infosys Technologies to invest Rs.1-2.5 billion in the SEZ, employing 2000-5000 people   Plans to sign an MOU with the Government for enhancing skill sets and exposure of college students from socially disadvantaged background through lectures and courses, campus visits and faculty development programmes

Investors will also get Income tax rebate for 15 years including 100% for the first five years Customs and excise duty exemption on construction material, capital equipment, raw material, and spares is proposed Exemption from service tax Permission for 100% FDI

      Source : Business Pulse

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