Mumbai-based Modern India Ltd has sketched Rs 2,000 crore investment plans for Rajasthan. Further, it also plans to establish a five-star hotel in Udaipur and a special economic zone (SEZ) in other parts of the state.

Vijay Kumar Jatia, Chairman and Managing Director of the company said, "We have identified land for the for a five-star hotel in Udaipur. We will soon start acquiring land for the 200-room hotel, which would come near a lake."

The hotel project is expected to cost Rs 1,000 crore and the company is also interested in setting up a SEZ in Rajasthan.

The company through its subsidiary, Modern India Property Developers Ltd, is already developing an electronic hardware and software SEZ on around 37 acres of industrial land at Khopoli in Maharashtra, strategically located on the national highway 4 with connectivity from two sides.

The Rs 900 crore project is scheduled to be completed in three years and is being developed through a Special Purpose Vehicle in which MIL is a major stake holder. Besides developing a hotel and SEZ the company also plans to open a jewellery training institute in Rajasthan.

Modern India Limited engages primarily in the trading of textiles in India. It also exports its textile products to other countries. The company’s other activities include export of steel products, including steel pipes and bars to the United States, Germany, and Switzerland; sale of software for jewelry industry and CAD machines; development of residential and commercial properties; and business center operations.

The company, through Indian Institute of Jewellery Limited, also offers educational and vocational training courses, which include jewelry manufacturing programs, jewelry design programs, gemology programs, and jewelry business programs.

Modern India Ltd. announced a 71% increase in net profit at Rs 13.0 million for the quarter to December 2007. Its sales increased by 150% to Rs 419.8 million.