RIICO

What RIICO does

RIICO (Rajasthan State Industrial Development and Investment Corporation Ltd) is a wholly state-owned public sector undertaking of the Government of Rajasthan, established to develop and manage industrial areas and serve as the nodal agency for industrial investment in the state. Headquartered in Jaipur, it operates nearly 450 industrial areas through 33 unit offices across 16+ cities including Jodhpur, Kota, Udaipur, Bikaner, Bhilwara, Ajmer, and Bhiwadi. Its core offerings comprise industrial land allotment through the multi-phase Direct Allotment Scheme (Rs 2,300+ crore cumulative value across nine phases), specialized industrial parks including the 111-acre Zinc Park with Hindustan Zinc and the 209-hectare Rupaheri Textile Park, the Mahindra World City Jaipur joint venture housing 130+ industrial units and ~75,000 employees, and plug-and-play industrial facilities offered via online e-auction at 5% annual rent. The corporation also organizes the biennial India Stonemart trade show to promote Rajasthan's stone sector globally.

RIICO's business model combines one-time industrial plot sales (one-time license/perpetual), recurring 33-year lease income (subscription), usage-based plug-and-play rentals, and co-investment in infrastructure with PWD under 50-50 cost-sharing (Rs 290 crore for 205 km of roads). Pricing includes concessionary terms such as 60% of prevailing rates in 30 designated industrial areas and discounted leases in underutilized zones to stimulate demand. The go-to-market is sales-led and enterprise-focused, targeting industrial investors from the Rising Rajasthan Global Investment Summit, manufacturers, solar producers, textile players, and MSMEs, with applications processed online through the RajNivesh portal and SSO system. Direct allotment clearance timelines have been reduced materially, with power of attorney clearance compressed from 15 days to 1 day.

Underlying technology consists of online application, allotment, and e-auction platforms supported by the RajNivesh single-window portal; no proprietary AI, ML, or advanced technology stack is disclosed. The corporation is governed by a Managing Director (Suresh Kumar Ola) and Chairman (Shikhar Agrawal, ACS Industries), with recent recruitment of 39 engineers and 121 additional posts in process to expand operational capacity. FY27 represents an aggressive expansion phase with Rs 1,500 crore planned for industrial area development, Rs 1,200 crore for infrastructure upgrades across 450+ areas, and a fivefold YoY jump in Q1 plot allotments.

Name

RIICO

Legal name

Rajasthan State Industrial Development and Investment Corporation Ltd

Website

https://riico.co.in

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

RIICO is the Rajasthan state-owned industrial development corporation that develops and manages nearly 450 industrial areas across Rajasthan, providing industrial land allotment, plug-and-play facilities, and specialized parks to industrial investors, manufacturers, and MSMEs.

Ownership category

akta.pro rank

Product category

Industrial Land Development and Infrastructure

akta.pro primary industry

Industrial & Logistics Property Management (BPAJAGAC)

akta.pro secondary industry

Manufacturing & Heavy Industrial Facilities Brokerage (BPAJACAB)

Keywords

• Industrial land development
• Industrial infrastructure
• Industrial park development
• Land allotment services
• Industrial area management

Headquarters

HQ city

Jaipur City

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Industrial Plot Allotment: RIICO generates revenue through direct allotment and sale of industrial plots to investors. Plots are offered at various rates including 60% of prevailing rates in certain areas, with the Direct Allotment Scheme-2025 generating approximately Rs 2,300 crore from 1,455 plots.
2. Land Lease Income: RIICO collects lease payments from industrial plots, with rental basis starting at 5% per annum of the prevailing land rate for plug-and-play facilities. 33-year lease options available at 60% of prevailing rates.
3. Infrastructure Development Services: Joint development of roads and infrastructure with 50-50 cost-sharing with PWD, involving approximately Rs 290 crore for 205 km of approach roads.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

RIICO develops and manages nearly 450 industrial areas across Rajasthan, acquiring, developing, and allotting industrial land and infrastructure to investors, manufacturers, and MSMEs. It offers direct allotment of industrial plots, plug-and-play ready-to-use facilities, and specialized industrial parks (textile, zinc, integrated townships) under various state industrial policies.

Product overview

RIICO operates as the Rajasthan State Industrial Development and Investment Corporation, functioning as the state's nodal agency for industrial infrastructure. Its core offering consists of industrial land management through the Direct Allotment Scheme across multiple phases, coupled with specialised industrial parks including Rupaheri Textile Park, Mahindra World City Jaipur (joint venture), and Zinc Park (co-developed with Hindustan Zinc). The corporation provides plug-and-play facilities and a 33-year land lease policy as supplementary offerings, while also organising the India Stone Mart trade show. Under the Industrial Park Promotion Policy-2026, RIICO facilitates private sector participation in industrial park development. All services are accessible through online portals including the state's SSO portal for streamlined application processing.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Allotment Scheme RIICO's land allotment programme offering industrial plots to investors through a direct application process, with phases offering plots at varying rates including discounted rates in underutilised areas. The scheme was extended till December 2026.
• Rupaheri Textile Park A textile-focused industrial park developed over 209 hectares in Hurda tehsil, Bhilwara district, with Rs 221 crore development investment. The park provides 275 plots ranging from 500 sq metres to 1.25 lakh sq metres supporting spinning, weaving, processing, and garment units.
• Mahindra World City Jaipur
• Zinc Park A Mega Zinc Park spanning 111 acres in Bhilwara district's Kankhla area, jointly developed by RIICO and Hindustan Zinc. Multiple companies including CMR Green Technologies and Tripura Group have signed MoUs to establish facilities at the park.
• Plug-and-Play Industrial Facilities Ready-to-use industrial infrastructure offered across multiple divisional headquarters in Rajasthan with plots allocated through online e-auction on a rental basis starting at 5% per annum of the prevailing land rate. The initiative targets MSMEs.
• 33-Year Industrial Land Lease Policy Industrial land lease policy allowing entrepreneurs to acquire plots in 30 designated industrial areas at 60% of prevailing rates on a 33-year lease with payment periods extended to five years in 19 quarterly installments, reduced transfer charges from 1% to 0.5%, and plug-and-play facilities at 5% annual rent.
• Industrial Park Promotion Policy-2026 Policy introducing four development models for private sector participation in industrial park development across Rajasthan, mandating minimum 50 acres of land and at least 10 industrial units per park, with capital subsidies up to Rs 40 crore based on park size, plus green incentives up to Rs 12.5 crore.
• India Stone Mart A biennial stone industry trade show, with the 14th edition scheduled for February 17-20, 2028. Jointly organised by RIICO, CEDOS and Laghu Udyog Bharati to promote Rajasthan's stone industry in global markets through international roadshows in 11 countries.

Quantifiable outcome

• Fivefold increase in industrial plot allotments (1,038 plots in Q1 FY27 vs 214 in same period last year)
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Laghu Udyog BharaticoreStrategic or Co-development Partner · 16 June 2026MoU signed for joint organization of India Stone Mart 2028, a biennial event promoting Rajasthan's stone industry in global markets. The 2028 edition aims to be larger than 2026 with emphasis on AI integration and international partnerships.
• Centre for Development of Stones (CDOS)coreStrategic or Co-development Partner · 16 June 2026Tripartite MoU with RIICO and Laghu Udyog Bharati for India Stonemart 2028 (14th edition, Feb 17-20, 2028). Aims to boost international participation through roadshows in 11 countries and attract foreign buyers and investment to Rajasthan's stone sector.
• Hindustan ZinccoreStrategic or Co-development Partner · 11 June 2026Partnership for Zinc Industrial Park in Khankhala, Bhilwara district. Hindustan Zinc provides assured raw material linkage and long-term ecosystem support, strengthening India's downstream zinc sector through sustainable metal recovery and industrial development.
• Jaipur Development Authority (JDA)minorStrategic or Co-development Partner · 28 May 2026MoU to develop and widen nearly 4km approach road connecting Ajmer Road to Mahindra SEZ into an eight-lane highway. Addresses rising traffic congestion in Mahindra World City which houses 130+ industrial units with ~75,000 employees.
• Public Works Department (PWD) RajasthancoreStrategic or Co-development Partner · 7 May 2026Joint development of 38 roads in industrial areas across 16 cities including Jaipur, Kota, Ajmer, and Udaipur. 50-50 cost-sharing model with estimated Rs 290 crore for approximately 205 km of approach roads.
• Rajasthan Pollution Control Board (RPCB)minorOthers · 11 April 2026Collaboration on environmental management including scientific cleanup of Jojari river and management of industrial waste from textile clusters. RPCB seeking technical support from National Institute of Hydrology.
• Rajasthan Industrial Assets & Land Bank (REIL)minorImplementation/ SI/ Consulting Partner · 24 March 2026Contract with Garuda Aerospace to establish Remote Pilot Training Organisation (RPTO) centre in Jaipur for DGCA-certified drone pilot training across industrial, commercial, and institutional organisations.
• Mahindra Lifespace DeveloperscoreStrategic or Co-development Partner · 20 March 2026Joint venture for Mahindra World City Jaipur, a 130+ unit integrated industrial township. RIICO partnership in joint venture company with Mahindra Lifespace Developers hosting half marathon event with 3,000+ participants.
• CMR Green TechnologiescoreStrategic or Co-development Partner · 12 March 2026MoU for zinc alloy manufacturing facility at Zinc Park producing high-quality, low-emission zinc alloys for automotive, infrastructure, die-casting, and consumer goods sectors. Second major partnership for Zinc Park.
• Bhiwadi Integrated Development Authority (BIDA)coreStrategic or Co-development Partner · 8 December 2025BIDA allotted 209 hectares of land to RIICO for industrial development in Bhiwadi, with RIICO paying Rs 110 crore for infrastructure development.

Scale indicators23 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Haryana State Industrial & Infrastructure Development Corporation (HSIIDC): HSIIDC is Haryana's state industrial development corporation managing industrial estates across the state, including plot allotment, infrastructure development, and policy-driven subsidies — a North-Indian direct peer operating under a comparable state-PSU mandate as RIICO.
• Gujarat Industrial Development Corporation (GIDC): GIDC is Gujarat's state industrial development corporation, operating a similar model of acquiring, developing, and allotting industrial plots and parks across the state — making it the most directly comparable peer to RIICO in terms of product (industrial land + plug-and-play) and customer base (industrial investors and MSMEs).
• Maharashtra Industrial Development Corporation (MIDC): MIDC is Maharashtra's state industrial development corporation managing hundreds of industrial areas across India's largest industrial state, with a similar portfolio of plot allotment, lease, and infrastructure services that overlaps almost entirely with RIICO's product mix.
• Madhya Pradesh Industrial Development Corporation (MPIDC): MPIDC / Industry & Investment Department of MP manages industrial area development and plot allotment for the state — comparable state-PSU peer to RIICO with a similar industrial-area development and investor-attraction mandate.
• Telangana State Industrial Infrastructure Corporation (TSIIC): TSIIC is Telangana's industrial infrastructure development agency managing industrial parks and providing subsidized plot allotment across the state — directly comparable to RIICO in mandate, product mix, and target customer base.
• Tamil Nadu Industrial Development Corporation (TIDCO): TIDCO is Tamil Nadu's state industrial development and investment corporation, with a similar industrial-area, park-development, and investment-promotion mandate — a comparable South-Indian state-PSU peer to RIICO.
• Andhra Pradesh Industrial Infrastructure Corporation (APIIC): APIIC develops and manages industrial parks and zones across Andhra Pradesh, providing land allotment, infrastructure, and policy incentives — directly comparable state-PSU peer to RIICO with overlapping customer segments.
• Karnataka Industrial Areas Development Board (KIADB): KIADB is Karnataka's state body for acquiring, developing, and allotting industrial land, offering plot allotment to investors and MSMEs under state policy — directly comparable to RIICO in industrial-area management, though typically more acquisitive in approach.
• Uttar Pradesh State Industrial Development Authority (UPSIDA): UPSIDA is Uttar Pradesh's nodal industrial land-allotment and infrastructure agency, operating industrial areas with state-policy-backed subsidies similar to RIICO's RIPS-2024 framework — a large-state direct peer in the same product category.

Broad incumbents

• National Industrial Corridor Development Corporation (NICDC): NICDC is the central government entity developing National Industrial Corridor nodes across India — operates in the same industrial-infrastructure category as RIICO but at a broader national scale with multilateral funding, serving as a higher-tier incumbent rather than a state-level competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/riico

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RIICO