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Jharkhand Rolls Out Red Carpet for Investors

Jharkhand CM Raghubar Das along with his top aides has been to New Delhi to showcase his investor friendly policies and woo entrepreneurs. Our Special Correspondent takes a look at two-day event

Amresh Shrivastava
Publish Date: Aug 6 2016 6:58PM | Updated Date: Aug 7 2016 1:04PM

Jharkhand Rolls Out Red Carpet for Investors

Jharkhand CM Raghubar Das speaking at the event in national capital. (Photo: Hrishikesh Bhatt)


A two-day conclave to attract investments for the resource rich and yet-not-so-developed Jharkhand in the eastern part of the country concluded in New Delhi on Friday (August 5). The upbeat mood set by the interface between the top brass of the State and entrepreneurs through this has ignited hope of a turnaround for the State.


The event styled as a road-show and christened as ‘Momentum Jharkhand’ follows a similar exercise held last month in Bngaluru (See August 1-15 issue of Policy Pulse).


Both the shows come through the run up to the Global Investors Summit slated to be held on February 16-17, 2017 at the State Capital Ranchi. The summit promises to be an extraordinarily rich and substantive fair, if the geniality that marked the two already held shows amid breezy music and dance in the rich folk tribal tradition of the State is to be taken as an indication.  


Chief Minister Raghubar Das, Chief Secretary Rajbala Verma and Secretaries of the various departments were in attendance trying to explain to the potential investors the benefits of investing and harnessing the vast natural resources the State is endowed with.


Asking investors to put their money and faith in the State, Raghubar Das told the captains of industry, “Jharkhand, in a sense, is the backbone of the ‘Make in India’ mission, since it holds 40 percent of India’s natural mineral wealth and is on track to become the country’s power hub by 2019.”


He said that the State suffered a lot because of the political instability that dogged it right from its inception in 2000 and this was the reason that it could not figure on the industrial map of the country so far. 


Under the guidance of the Prime Minister Narendra Modi and a stable Government in the State it became number three State vis-à-vis ease of doing business in the country. The Chief Minister also apprised them of the safe, corruption free and sound law and order situation in Jharkhand. “You must have not heard of any major incident of Left wing extremism in last 15 or 16 months in the State,” remarked Das.


Chief Secretary Rajbala Verma while addressing the gathering of the prospective investors said the State has the largest deposits of minerals, ample power, skilled manpower and production opportunities. She said that under the dynamic leadership and guidance of Chief Minister, an investor friendly industrial policy has been put in place to take care of wide range of industry and services right from mining to power generation, education and healthcare, providing vast scope of investment opportunities in Jharkhand.


Tourism is another sector which has a large scope to begin with. The State has a ready huge land bank; there is target of achieving 20,000 MV power generation by the 2020. So the state is ready with all important elements which any entrepreneur may seek. “We have ensured that the most investment-ready opportunities are adequately presented to the prospective investors and entrepreneurs through these conclaves,” said Verma.


Speaking at the event Industry Secretary Sunil Kumar Barnwal, one the main architects of the new investment policy in the State, explained how in last 16 months the State Government was able to formulate sound and hassle free policies for the leaders of the industries. “The Single Window System has been developed and managed by the renowned Ernst and Young Company. I assured you that there is no window behind this window,” said Barnwal to those who gathered at the event.  He went on to assure that once a proposal is moved its progress would be updated and shared with the concerned party through e-mail and SMS.


TRAI, or Telecom Regulatory Authority, Chairman RS Sharma who was also invited to the event pointed out the benefits and facilities provided to interested investors by the present Government. “Ranchi can be best suited for the BPOs and other similar industries and I think that the climate of the Ranchi and Bengaluru is very much similar,” he remarked while also underlining the scenic beauty of Jharkhand which is at par with any tourist destinations of the world. Sharma was Chief Secretary of the Jharkhand before taking his present assignment.


On the first day, or August 4, of the Delhi summit, the Jharkhand Government signed two MoUs.


While ACC Limited signed a deal with the State Government for expansion of its units in Jharkhand, another MoU was signed by Hewlett-Packard (HP for short) with the Government for health sector.


A few investors who are establishing or have already established their ventures in the State shared their experience with the gathering where they spoke positively about the Government support.


Few suggestions were also given to the officials to make the process more convenient. These suggestions were taken note of by the concerned Secretaries for further actions. 


Besides Bengaluru, the Jharkhand Government had earlier also organized a road show at Hyderabad to woo the local business community to the State.


The fourth road show by the State Government is going to be held in Kolkata. Apart from this the State Government is going to send delegations to Japan, Singapore and Thailand this month. Similar delegation will be sent to Australia and New Zealand later on, a source in the Jharkhand Government told Policy Pulse.


Core area of opportunities in Jharkhand


1. Plastic park at Deoghar

2. Mega food park at Ranchi, Food park at Hazaribagh, Deoghra and Chandil

3. Electronic manufacturing cluster, Adityapur, Jamshedpur

4. Apparel park in Irba, Ranchi

5. Mines and Metallurgy

• Aluminum park at Muri and Latehar

•  Steel Park at Kharsawan, Jamshedpur

• Gems and Jewellery park in Ranchi

• Ceramic Park at Dhanbad, Sahebganj

• Coal to Polygeration units

1  Automotive Vendor Park at Adityapur

2  Energy sector

• Power Generation and Distribution

• Manufacturing of Equipment required to set up Power Generation Units

• Manufacturing of Renewable Energy Appliances.