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CM announces formation of JIPB to drive industrial growth

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Ranchi, July 7: Chief Minister Raghubar Das announced the formation of Jharkhand Investment Promotion Board (JIPB) on Thursday.

Aimed at attracting national and international investors, the board is pivoted on the ‘Ease of Doing Business’ framework in conjunction with the State Government and will deliberate strategies on effective implementation of investment policies, incentivizing New Economy sectors and working towards simplification of procedures, policy and reforms for smooth industrial growth in Jharkhand.

Importantly, JIPB outlines the Jharkhand Government’s resolve to broad-base value-added manufacturing facilities with specific sectors chosen to push its pro-manufacturing agenda.

These include industries such as mining, food processing, energy, automobile, IT-ITeS, tourism, infrastructure development, healthcare and education.

While announcing the formation of the Jharkhand Investment Promotion Board (JIPB),  Chief Minister, said, “Jharkhand is ushering in an era of industrial growth and is geared up to showcase its enormous potential to the national and international investment communities in order to attract suitable investments.

Formation of the Jharkhand Investment Promotion Board is a step towards this goal and we are confident the JIPB will help in facilitating new investments in sunrise sectors and make Jharkhand one of the global destinations of choice for investors.”    

The first meeting of the JIPB will take place in Mumbai on July 8. Industry captains such as Sajjan Jindal, chairman and managing director, JSW Steel; Rajeev Jhawar, managing director, Usha Martin Ltd; P K Singh, chairman, Steel Authority of India Ltd (SAIL); T V Narendran, managing director, Tata Steel Ltd; Tom Albanese, chief executive officer, Vedanta Resources; Derek Shah, executive vice-president, Larsen and Toubro Ltd; Om Parkash Mittal, president, Laghu Udyog Bharti India; Father E Abraham S J, director, XLRI, Jamshedpur; and Anindya Sen, director, Indian Institute of Management, Ranchi; will grace the JIPB meeting.   

 
Rajbala Verma, chief secretary, Government of Jharkhand; R K Srivastava, additional chief secretary (Energy), Government of Jharkhand; Amit Khare, additional  chief secretary (Finance), Government of Jharkhand; Sunil Kumar Barnwal, secretary, Department of Industries, Mines & Geology, Government of Jharkhand; and other senior officials will also attend the crucial meeting.

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