Incentives given by the State
Incentives provided by the state Government for setting up Industry in Jharkhand
Since the formation of the state of Jharkhand in 2000, the Department of Industry, Govt. of Jharkhand, has formulated two Industrial Policies. The first industrial policy was formulated and implemented in 2001, with the basic objective of optimal utilization of the resources available in the state, in a planned and systematic manner and achieve rapid Industrialization. The focus was on projects aimed at enhancing value addition of the natural and human resources of the state and building infrastructure which the state has been severely lacking. To this effect numerous incentives have been offered in the 2001 Industrial policy.
The incentives did yield results - 26 mega industries, 106 large and medium industries and 18,000+ micro and small industries were set up in the State during the policy period. An aggregate investment of more than Rs 28,000 crore was made and these units altogether gave employment to more than 60,000 people.
The second industrial policy came up in 2011 after experience from the implementation of the first policy and also after due deliberations with representatives of industries and experts. The focus on the new policy is in other areas such as IT, Biotechnology, Special Economic Zone (SEZ), Food Processing, Down Stream Processing, where considerable scope exists, and hence numerous incentives are offered to boost investment. This policy was notified on 16th June 2012 and is now referred as Jharkhand Industrial Policy 2012.