Minister for Industries, the government of Rajasthan, Rajpal Singh Shekhawat, inaugurated the multi-product special economic zone (SEZ) of Mahindra World City, Jaipur.

It targets Rs 3,000 crore additional investment over five years.

Memorandums of understanding (MoUs) were also inked with Sigma Electric and Aro Granite. Sigma Electric is an exporter of castings and precision-machined components, while Aro Granite is an exporter of processed granite.

The MoUs were inked for setting up manufacturing facilities in the newly-launched Multi-product SEZ.

The facility at Jaipur already has companies such as Deutsche Bank, Metlife, Infosys, Knitpro, Maxop and Wipro.

MWC Jaipur is a joint venture (JV) between Mahindra Lifespace Developers (MLDL) and RIICO. The venture is a 3,000 acre integrated business city and is home to multi-product SEZ, a domestic tariff area and the upcoming social and residential infrastructure.

The launch of MWC will create opportunities for industries from additional diverse sectors like auto ancillaries, food processing, processed construction materials, ESDM, medical devices, among others.  

As of 31 March 2018, MWC Jaipur has inked 81 companies, of which 49 are already operational. So far direct and indirect employment opportunities have been created for around 35,000 people.

The new SEZ is the first project in Asia, and the world’s largest to receive Stage 2 Climate Positive Development certification from the C40 Cities Climate Leadership Group (C40).