Two-day investor’s summit between August 27-28 to brand state as a favoured destination
Adityapur Electronic Manufacturing Cluster to be a hub for investors in ESDM
Ranchi, August 25: The Jharkhand government will unveil its new industrial policy in New Delhi during a two-day investment meets from Friday.
Chief minister Hemant Soren, along with a battery of key officials, left for Delhi on Wednesday night. He will personally remain available during the meet scheduled to take place at the Taj, his office has said.
Chief Minister Hemant Soren will launch Jharkhand Industrial and Investment Promotion Policy (JIPP) 2021 at the Investor’s meet to be organized on 27th and 28th August in New Delhi.
The state cabinet cleared the policy titled, Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021, on july 6. It replaces the policy prepared by the former BJP government that was in power in the state between 2014-19.
The Hemant government aims to attract investments up to Rs 1 lakh crore as per the new policy.
To establish the state as a hub of electronic manufacturing & system design, a dedicated Adityapur Electronic Manufacturing Cluster has already been established near Jamshedpur under the aegis of Adityapur Electronic Manufacturing Cluster Limited, a special purpose company for the smooth functioning of EMC. Aditypur EMC is a greenfield project spread across 82 acres of land. The campus has 92 flatted factory units ready with plug & play facility. An area of 49 acres has been booked for open infra, which is ready to be allocated for 51 electronic manufacturing units.
The government aims to attract an investment of up to Rs 1,00,000 Cr through JIIPP 2021.
To attract a large number of investors the government has proposed many attractive incentive provisions. The proposed Jharkhand Industrial and Investment Promotion policy promises investors up to 100% relief from SGST for up to 9 Years whereas 75% for large scale industries which is again for up to 12 Years.
The policy incentivizes investors up to Rs 25Cr as a comprehensive investment project subsidy with an additional 5% incentive provision for SC/ST/Women/Speciallyabled investors. Apart from these, the policy has provisions for Early Bird Subsidy, Anchor Subsidy, Interest Subsidy, Power Subsidy and many more.
A land of unlimited opportunities Jharkhand is one of the largest producers of Tasar silk in India, 2nd Largest producer of Horticulture crops, ranked 5 th in Ease of Doing Business. 33 National Highways pass through Jharkhand, the state has excellent Rail, Road, Air and Port connectivity. Also, India’s 2nd multi-model water port has been made in the state of Jharkhand on the river Ganges, which opens up industries established in Jharkhand to the global market. It creates an excellent opportunity for the investors to connect to the markets of Indo-Nepal-Bangladesh and North-East through waterways.
State industry department secretary Pooja Singhal said, “Through the new policy, we are trying to maximize incentives available to investors and ensure they enjoy a business-friendly ecosystem in Jharkhand.”
Another official maintained that the upcoming investor’s meet will see the chief minister holding one-on-one meetings with stakeholders/representatives from different business houses to listen and understand their proposals.
Citing on the key focus areas of the government, he said, “The state government is looking to promote business opportunities in textile and apparels, automobile, auto-components and electric vehicles, food and meat processing, pharma, electronic system design and manufacturing, tourism, health, IT & ITeS, education and technical institutes and other MSMEs.”
