The Resurgent Rajasthan Partnership Summit has kicked off. On the sideline of the summit, CNBC-TV18'S Kritika Saxena caught up with Swati Piramal to know more about the company’s expansion plans in the state.
Piramal Group already has a strong presencein Rajasthan and the group is keen on expanding in the state via Shriram Group, said Piramal. They are also looking to expand market presence in the financial services companies and over the counter business in the state, she adds.
Rajasthan business is growing at 25-30 percent, she said.
Below is the transcript of Swati Piramal’s interview with Kritika Saxena on CNBC-TV18.
Q: What are your expansion plans in Rajasthan?
A: We have big investments here in terms of healthcare, water and education. And I think Rajasthan scores very well on all those. But it is a big state. There are 60,000 primary schools, as many primary healthcare centres. So, to get equitable distribution of health, education and water. That is the big challenge. And I think corporates are willing to help and to do whatever they can to get this done. So, to get the ease of doing business is to make things easier, to make tenders – sometimes government tenders are needed because when you want to get scale, just to make it very easy. So, we have been talking to the Chief Minister, especially regarding corporate social responsibility (CSR) funding by foundations and by companies, how do we contribute more to Rajasthan.
Q: From a Piramal Group point of view, what are the areas that you are looking at investing into Rajasthan. Can you tell me sectorally speaking? Piramal has been investing across sectors. Are the areas like infrastructure, agriculture, power interesting for you at this point in time?
A: I think for the Piramal Group, the headquarters of our insurance business, in our sister company; the Shriram Group which is based out of Chennai is in Jaipur. We have over 2,000 employees and we loan Rs 3,000 crore of financial services. So, financial service is a big area for us to give and lend to young entrepreneurs, small scale entrepreneurs who want to sell or buy used trucks and that is, it is a virtual company. You do not think about it as setting up a factory, but financial services is a very fast growing industry.
So, we are setting up big places here. We are already here in Jaipur. I think that sector is very important to us. Of course, the others are pharmaceuticals which are a global reach. We are global company today.
Q: So, all-in-all and lastly, how much would you look at investing into Rajasthan in the next one year?
A: We do not have a closed figure to it, but we are already here. So, I would say that we have a big business existing. It is growing 20-30 percent.