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Hemant Soren calls top-notch industrialists to set up EV units in Jharkhand, Dalmia Cement agrees to invest Rs 500 Cr

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Ranchi, August 27:  In the quest to attract investments in the state and foster industrial development, Chief Minister Hemant Soren began his two-day Investor’s Meet hosted by industries department of the state.

On the first day of the event held today, the Chief Minister met with the top leadership from the biggest corporate houses of the country and called upon them to invest in an emerging Jharkhand.

During a roundtable meeting, the Chief Minister met with the leading industrialists from the Tata group, Hyundai Motors, Honda, Maruti Suzuki.

 The meeting was focused on the draft Jharkhand Electric Vehicle Policy (JIPP) 2021, and sought feedbacks from prospective investors on the policy and showcase the opportunities available in the sector at the already operationalised  Adityapur Auto-Cluster and Adityapur Electronic Manufacturing cluster.

During the meeting Secretary, department of industries, Pooja Singhal briefed all the prospective investors regarding the scope of the Electric Vehicle sector in Jharkhand, the state’s vision for this sector and the Government’s proposed plan to establish a dedicated Electric Vehicle cluster in the state.

During the presentation, Pooja Singhal explained the incentives and provisions under the proposed Electric Vehicle Policy.

She said, “We are going to provide 100% exemption in Stamp Duty and Registration fee to the companies. Also, companies who promise to invest in the electric vehicle sector within the first two years since the launch of EV policy will be provided land at a 50% subsidy by JIADA. 100% incentive for MSMEs on GST for 7 Years, whereas 9 and 13 Years for large and mega-scale industries. Additionally, we are proposing 100% exemption from vehicle registration fees and 100% exemption from road tax.”

Chief Minister Hemant Soren said, “I welcome all those who have come to this event. All small, big corporate houses and the officials from the state government. Since Independence, the biggest plants and units have been set up in our state only. A lot of opportunities have gone untapped. However, we want to change this scenario. The thought is to move forward and take you all with us.”

*”We have a big workforce waiting for the opportunity. We have abundant amenities in our state. In Jharkhand, a substantial part of the population is from SC/ST communities. If SC/ST people are employed, we will add more incentives to the policy. They are very hardworking people and will get a chance to move ahead with you. With your support, our state can touch heights. The proposed Electric Vehicle policy has been presented in front of you. If we look towards the future then I believe Electric Vehicles are the future vehicles where we can do as much as we want”, he added.*

The round table meeting was followed by focused business to government meetings with the top leadership from houses like Tata Group, Maruti Suzuki, Dalmia Cement, Honda Cars, Hyundai Motors, SAIL, NTPC, Vedanta & GAIL. During the one on one meetings, the Dalmia cement group committed to invest Rs 500 Cr in the state along with others in multiple sectors such as automobiles and ESDM.

Participants appreciated the upcoming JIIPP 2021 and committed to investments in Jharkhand.

The Chief Minister commented, “Today, on the first day of the investor’s meet, I had the opportunity to interact with the leadership from big corporate houses. I have called them to come and invest in Jharkhand. I have committed them to our full support. Our government welcomes all the investors to Jharkhand. Our state has immense potential and is full of opportunities in multiple sectors and are not limited to mines and mineral-based industries.”

*“Tomorrow we are going to launch Jharkhand Industrial and Investment Promotion Policy 2021, wherein we are going to announce many fiscal incentives for the investors. Adityapur Electronic Manufacturing cluster, eastern India’s largest ESDM facility, has been operationalized and we welcome all the investors to come and be a part of this facility. We hope that our new policy, which is going to be launched tomorrow will help us attract investors and will prove to be one of the best policies in the country.”*

The Department of Industries, Government of Jharkhand is hosting an Investors’ Meet to showcase the Jharkhand Industrial Investment Promotion Policy 2021 to prospective investors. It is a two-day event and is being hosted in the national capital of Delhi.

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