Ram Ratna Wires Secures RIPS-2024 Approval for ₹186.77 Crore Bhiwadi Expansion
In a major boost to Bhiwadi's industrial ecosystem, Ram Ratna Wires Limited has announced that its Bhiwadi plant has received approval under the Rajasthan Investment Promotion Scheme (RIPS-2024). This approval represents a significant milestone for the company and reinforces Bhiwadi's position as a premier manufacturing destination in North India.
Investment Details
The company has secured approval for an Eligible Fixed Capital Investment (EFCI) of ₹186.77 crore under the scheme. This substantial investment will enable Ram Ratna Wires to:
- Expand manufacturing capabilities for super enameled copper winding wires
- Enter the copper tube segment for India's rapidly growing air conditioning industry
- Enhance operational efficiency and cost competitiveness
- Strengthen position in high-demand domestic and export markets
RIPS-2024 Benefits
Under the Rajasthan Investment Promotion Scheme 2024, Ram Ratna Wires will receive:
- Turnover Linked Incentive: 1.32% of EFCI
- Electricity Duty Exemption: For 7 years
- Stamp Duty Reimbursement: 25% of applicable stamp duty
Strategic Significance
Mr. Mahendrakumar Kabra, Managing Director at Ram Ratna Wires Limited, expressed enthusiasm about the approval, stating: "The incentives under RIPS-2024 will help us optimize costs and reinvest in technology and capacity expansion. The plant will capitalize on the copper tube segment, which plays a crucial role in India's rapidly growing air conditioning industry, offering significant growth opportunities."
Impact on Bhiwadi Industrial Growth
This development aligns with Bhiwadi's emergence as a key manufacturing hub under the Delhi-Mumbai Industrial Corridor (DMIC). The Khushkhera-Bhiwadi-Neemrana Investment Region continues to attract major investments across sectors including:
- Electronics and Electrical Equipment
- Automotive Components
- Steel and Metal Processing
- Pharmaceuticals and Chemicals
About Ram Ratna Wires
Ram Ratna Wires Limited is a leading manufacturer of super enameled copper winding wires in India. The company's Bhiwadi facility is expected to become a major growth driver, enabling the company to serve high-demand markets more efficiently while contributing to the region's industrial development.
Looking Ahead
With the RIPS-2024 approval, Ram Ratna Wires joins a growing list of companies expanding their presence in Bhiwadi. The facility is expected to generate significant employment opportunities and contribute to the overall economic growth of the Alwar district and Rajasthan state.