Jharkhand road show attracts Rs. 2,000-crore investment

Source: The Hindu Business Line, Sept 20, 2016

Mumbai: The Jharkhand government has announced six industry-specific industrial policy and signed Memorandum of Understanding to attract investment worth ₹1,950 crore besides five agreements on skill development.

The new investment friendly policy was announced for sectors including textiles , IT & IT enabled services, business process outsourcing, start-ups, electronic systems design and manufacturing and automobile and auto components in the last leg of Momentum Jharkhand Global Investors’ Summit 2017 launched in Mumbai on Tuesday.

Raghubar Das, Chief Minister of Jharkhand ,said while Mumbai is the Gateway to India, Jharkhand is fast emerging as the gateway for ‘Make in India’.

The Jharkhand government also signed MoU with Orient Craft to set up two textile manufacturing parks on 140 acres with an investment of Rs. 1,500 crore and MNR Education Trust plans to put up an integrated medical and paramedical education campus with ₹350-crore investment in 5 years.

Bokaro Sewa Trust in association with Rama University Kanpur will set up a 300-bed super-specialty hospital and medical research centre in Bokaro with an investment of Rs.100 crore.

On skill development, Tata Steel will set up a soft-skills system for comprehensive training of youth while Tech Mahindra will invest in an incubation centre and BPO Unit along with skill development programme to prepare students for sectors such as robotics and cloud computing.

Desun Hospital & Heart Research Institute plans a 500-bed multi-specialty hospital, a 1,300-seat nursing institution and a 300-seat paramedic institution in Ranchi. Vakarangee Ltd plans to set up over 1,600 e-kendras across Jharkhand over five years to provide public facilities. The State government has brought on board a team from IIM Ahmedabad to help set up a centralised start-up incubation facility.

The government has also signed MoUs with Cisco, Oracle and Hewlett Packard for skills development to prepare the state for next phase of technology-leveraged industrial diversification.Recalling the JSW Steel’s earlier commitment to invest ₹35,000 crore for setting up a 10 million tonne steel plant in Jharkhand, Seshagiri Rao, Joint Managing Director, JSW Group, said the government is rightly focusing on four prime determinants of investor confidence, including factors of production, connectivity for supply chains and ease of doing business besides security and safety.

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