Jharkhand unveiled six policies to attract investment from domestic and international investors.
“Jharkhand is a land of opportunity. For the benefit of the industry, we have finalised new policies which will help them to improve profitability,” Raghubar Das, State Chief Minister, told the media on Tuesday.
“Jharkhand has the potential to be an auto hub. The Tatas have already large presence in Jamshedpur,” said Mr. Das. “Through our interaction here, 48 companies have shown interest to invest in our state. Sajjan Jindal of JSW Group is keen to set up a steel plant, a power plant and a cement plant in our state. Besides, I am meeting Tata Group Chairman Cyrus Mistry to invite more investments,” he said.
The new policies are related to Information Technology & IT Enabled Services (IT/ITeS), Business Process Outsourcing (BPO), Start-ups, Electronics Systems Design and Manufacturing (ESDM), Textiles & Apparels and Automobile and Auto Components sectors.
The focus on these segments represents a strategic diversification of the state’s industrial landscape which has been mainly dominated by mineral-based industries.
To attract the IT and BPO industry to set up base there, the government is developing related infrastructure so that employees move to these new destinations.
The state is setting up high quality hospitals and schools besides setting up the desired infrastructure.
A sum of Rs. 12,000 crores is being invested to improve the roads in the state and emphasis is given to provide approvals online though a single window policy. In the last 20 months that Mr.Das had been in office, Jharkhand had attracted investment worth Rs.23,000 crore. Adani Power would commence work on a Rs.15,000-crore power plant in a few months.
