Jaipur, May 24 (KNN) The Government of Rajasthan took a major step towards boosting the state's economic development by signing a Memorandum of Understanding (MoU) with CUTS International, a global public policy think tank.

The partnership aims to facilitate increased international trade and investment in Rajasthan.

The MoU was signed between CUTS International and the Rajasthan Export Promotion Council (REPC), under the Department of Industries and Commerce.

It establishes a collaborative framework to position Rajasthan as a leading global investment destination in India.

"This collaboration aims to promote industrial development and targeted investments in Rajasthan, driving economic growth and job creation through enhanced trade promotion," said Pradeep S. Mehta, Secretary General of CUTS International.

Ajitabh Sharma, Principal Secretary of the Industries and Commerce Department, highlighted the significance of the agreement, stating, "Rajasthan is set to boost trade and investment by breaking legal and psychological barriers with this new MoU."

Under the partnership, CUTS International will play a crucial role in attracting strategic investment to Rajasthan.

This includes analysing trade agreements with foreign countries, identifying regulatory reforms to eliminate investment barriers, and streamlining processes to create a more favourable business environment.

The MoU also focuses on fostering research, advocacy, capacity building, and networking opportunities to enhance Rajasthan's strategic collaborations and make the state more self-resilient in the international market.

"It is a proven theory that countries grow when their performance in international trade is also growing. Rajasthan will do more to contribute to the national economy than before," asserted Mehta.

(KNN Bureau)