Jharkhand Cabinet nod to new Industrial and Investment Promotion Policy 2021

The Jharkhand government gave its nod to new Industrial and Investment Policy 2021 to attract fresh investments in the state.

Published: 06th July 2021 11:22 PM  |   Last Updated: 06th July 2021 11:22 PM   |  A+A-

Jharkhand CM Hemant Soren

Jharkhand CM Hemant Soren (Photo | PTI)


RANCHI: The Jharkhand government on Tuesday gave its nod to new Industrial and Investment Policy 2021 to attract fresh investments in the state, Chief Minister Hemant Soren said.

The approval was given to the policy at a meeting of the state cabinet, chaired by Soren.

"Cabinet has approved a new industrial policy to attract investments in the state in a better manner," Soren said after the cabinet meeting.

Earlier in March this year showcasing Jharkhand as one of the most attractive investment destinations, the state government had urged industry players to come forward to invest in proposed projects with investment potential of Rs 1 lakh crore and reap rich dividends.

Promising that the Jharkhand government did not believe in selling "glass as diamonds", it said it was ready to offer lucrative sops to industry players for investing in the state that alone houses India's 40 per cent of mineral wealth with 33 percent of forest cover.

Making a strong case for investment in the state, Soren had said, "If you are looking to invest in agro and food processing, textiles, automobile, electric vehicles, pharmaceuticals and electronic system design and manufacturing to name a few areas, Jharkhand promises exciting opportunities."

He was addressing a meeting to come out with a Jharkhand industrial investment and promotion policy in consultation with stakeholders.

"Jharkhand has huge potential in all the areas, be it in mines and minerals, forest produce, textiles or vegetables...Entire country knows Tatas...This is the region where he set his foothold...This is the place which saw gigantic establishments like HEC, steel, coal, power and fertiliser and other plants.

"Unfortunately soon after taking charge as CM, the entire country faced this pandemic...Now it is the mission and vision of this government to take it forward on the path of progress with steely resolve," Soren had said.

Apart from being a mineral-rich state, Jharkhand ranks second in the country in production of tomatoes, fifth in peas and beans, sixth in cabbage, okra and cauliflower and has over 175 minor forest produce with 33 per cent forest cover.

The policy entails subsidy, sops and land for investors.

The Jharkhand cabinet also okayed a proposal to provide incentive amount equivalent to one month's honorarium to outsourced personnel deputed for coronavirus related work in the control rooms of COVID hospitals among others.


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