RANCHI: Chief minister Hemant Soren on Tuesday travelled to New Delhi to unveil the new Jharkhand Industrial and Investment Promotion Policy (JIPP)-2021 and attract investments across diverse sectors in the state.
Soren’s office announced that he will camp in the national capital for three days and will hold one on one meetings with the stakeholders, industry representatives and listen to the proposals and requirement of the investors. Representatives of the country’s leading industrial houses are expected to attend the meetings on August 26 and 27, his office said.
Earlier this year, Soren had held consultations with industry representatives and sought their suggestions for drafting the new policy.
The JIPP-2021, which was approved by the state cabinet on July 6 this year, will replace the 2016 state industrial policy that was drafted by the erstwhile Raghubar Das government. Armed with the new policy, the state government aims to fetch investments worth Rs 1 lakh crore with a focus on textile and apparels, automobile, auto components and electric vehicles, food and meat processing, pharmaceuticals, tourism, health, IT, renewable energy, breweries and distilleries, education and technical institutes and MSMEs.
“Jharkhand is a land of unlimited opportunities. We will welcome all investors with open arms and provide them every possible facility right from the scratch to production,” Soren said.
Soren’s push towards fetching new incentives comes at a time when nearly 3,000 industrial units across the state’s industrial areas have either ceased production or have permanently shut down. Soren’s party, the Jharkhand Mukti Morcha (JMM), had in its 2019 election manifesto promised 5 lakh jobs to the youth of the state within one year of assuming office. JMM had been critical of the erstwhile Das government’s 2017 Momentum Jharkhand Global Investors’ Summit which was held in Ranchi.
“Through the new policy, we are aiming to maximize the incentives for investors and ensure that they enjoy a business-friendly ecosystem in Jharkhand,” industry secretary Puja Singhal said. The JIPP-2021 promises capital investment subsidies up to Rs 25 crore and a 100% SGST relief for nine years to new companies if they set up units in Jharkhand.
At the meet, the industry department will try to woo investors from the electronic manufacturing and design sector by showcasing its newly built electronic manufacturing cluster in Adityapur. The 82-acre facility can accommodated 92 factory units and 51 electronic manufacturing units, the government said.
