RAJ KUMAR
Ranchi, Aug.25: Chief Minister (CM) Hemant Soren will launch Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021 at the Investors’ meet in New Delhi on August 27 and 28.
The investors’ meet will also include business to government meetings with interested investors. During the meet, the CM will hold one on one meeting with all such stakeholders or representatives from different business houses from across the country, where he will listen to the proposals and requisitions of investors for required interventions.
The idea behind this is to revive business opportunities in the state and transform the image of Jharkhand from a state of mines and
minerals to a state full of opportunities across multiple sectors.
With the launch of JIIPP 2021, the state government is looking towards promoting business opportunities in the field of Textile and Apparels, Automobile, Auto-Components and Electric Vehicles, Food and Meat Processing, Pharma, Electronic System Design and Manufacturing, Tourism, Health, IT & ITeS, Renewable Energy, Breweries and Distilleries, Startup and Incubation centres, Education and Technical Institutes and other MSMEs.
To establish the state as a hub of electronic manufacturing & system design, a dedicated Adityapur Electronic Manufacturing Cluster has 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.
Jharkhand is one of the largest producers of Tasar silk in India, 2nd Largest producer of Horticulture crops, ranked 5th 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.
The government strives for industrial development in the state. To achieve desired results the government is planning to attract new investments but also wants to revive ill/sick industrial units. The government has marked industrial units which can be revived and turned into production units, such industrial units will be restarted under the beneficial provisions of JIIPP 2021.
Regarding the initiative, Chief Minister Hemant Soren said: “Jharkhand is a land of unlimited opportunities. We welcome all the investors with open hands. We will provide you with every possible facility. From scratch to production, our government will stand with you. This will create employment opportunities for our young skilled workforce and assure you excellent growth with Emerging Jharkhand.”
Industry secretary Pooja Singhal echoed him saying “through the new policy, we are trying to maximize the incentives available to investors and ensure they enjoy a business-friendly ecosystem in Jharkhand.”
Chief Secretary Sukhdev Singh said: “The government of Jharkhand will support the investors throughout the process and stand by them to actualize their investments into returns and growth. “