Explanation:

Neemrana, a city in Alwar district of Rajasthan, is quickly growing right into a hub for Japanese industries.

As a major step in this regard, Rajasthan State Industrial Development and Investment Corporation (RIICO) has developed a Japanese zone and a country-specific zone in Neemrana.

RIICO (Rajasthan State Industrial Development and Investment Corporation), a state authorities enterprise, has pioneered the industrialisation of Rajasthan by organising the industrial areas of the region in a systematized manner.

RIICO additionally acts as a monetary establishment, offering loans to massive, medium, and small-scale tasks.

In recent months, the state government has inked 11 memorandums of understanding (MoUs) with Japanese firms.

RIICO, is a premier agency of Government of Rajasthan that has played an important role in the industrial development of Rajasthan.

It is an apex organisation of government of Rajasthan for development of industrial infrastructure within the state.

RIICO is mainly engaged in site selection and acquisition of land, developing infrastructure for industrial area, financial assistance to small, medium and large-scale projects, equity participation in large projects on merit, technical consultancy for project identification and technical tie up, escort services, facilitation of government clearances, extending incentives and concessions as per the policy of the State Government.

The corporation was incorporated in March 1969 as RSIMDC and got its present name in January 1980.

It has 30 unit offices in Rajasthan and has staff strength of about 800. RIICO has so far developed 360 industrial areas by acquiring about 85,390 acres (345.6 km2) of land. More than 42300 industries are in production within the industrial areas developed by RIICO in Rajasthan