Jharkhand - an Investment Destination
The state of Jharkhand came into existence in November 2000, after breaking out from Bihar. The people of the region rejoiced with the formation of the new state to be administered from closer proximity, viz. Ranchi. There was great hope that this state which is gifted with so many precious minerals will turn out to be a paradise after becoming independent. However, their joy was short lived.
It has been 16+ years since the formation of Jharkhand, yet until now the people of the state are waiting for a sincere government who would be really keen in developing the state considering its strengths. The state has witnessed a spate of scamsters and corrupt politicians who have focused only on amassing wealth for themselves and have all contributed to ruining the state. The era of Madhu Kora is well known to the entire nation.
Many parts of the state is still deep in poverty. Development has not reached in the remote villages and small towns. The naxals have been a major impediment to the development activities. Major part of the population is deprived of basic amenities of electricity, water supply and sanitation.
Yet, due to its inherent strengths, development continues to happen in pockets, though at a slow pace. The cities of Jamshedpur, Ranchi, Dhanbad, Bokaro and Deoghar have seen decent development and are some of the finest cities to live - with quiet and cool life relatively free from the hustle bustle that you see in most developed cities of India and also having a much lower crime rate. People from various communities live in true harmony. Political disturbances are minimal and people are more focused towards their work and career and spend most of their time in pursuit of a better living.
Why should you choose to invest in Jharkhand?
The state of Jharkhand, widely acclaimed as a region with great industrial future, has enormous potential for industrialization. With its large deposits of minerals, it provides a solid launching pad for all kinds of industries. The state holds 40% of nation's mineral reserves, compelling the state government to commit itself to rapid development by leveraging this locational advantage. However, to the woes of Jharkhand, the state, since its inception, has been severely lacking in visionary political leadership and a proactive government. A fragmented legislative assembly combined with burgeoning corruption, has been the root cause. The people of Jharkhand need to realize the importance of choosing a single political party and for once give a de-fragmented mandate - they have already seen the result of coalition at the center.
The point of cheer is that despite all the negativities of a coalition government, the state, due to its own inherent strengths, has continued to progress, though at a rather slow pace - so there is a lot to catch up. And, hence, the huge gap and potential awaiting. The state is destined to become an attractive destination for Investors and entrepreneurs. So, if you are a business person and have been overlooking this state, it is time you gave a serious attention to investing here. As you will see by reading this section, opportunities abound and it is only prudent to take advantage - the earlier, the better.
Potential for setting up units exist in all areas, especially - Power Generation & Distribution, Infrastructure Development, Automobile Industry, Mines & Mineral based Industry, and White Goods segment. The state's industrial policy has been framed to provide numerous incentives to catapult industrialization. Special packages are available for new projects with investment more than Rs 50 crores. Encouragement is also given to foreign investments and technological collaborations by OCBs and NRIs in select sectors. Check the links on the right column to explore the sector wise opportunities and incentives.
Strengths of Jharkhand
- Jharkhand is the first in production of COAL, MICA, KYANITE and COPPER in India.
- 33% of the country's Coal reserves in Jharkhand.
- Jharkhand is the sole producer of Coking Coal, Uranium & Pyrite.
- Jharkhand has large reserves of numerous other minerals like Iron ore, Apatite, Bauxite, Chromium, Felspar, Graphite, Hematite, Mica and Quartzite.
- Well-established Industrial base of long-standing comprising reputed business houses.
- Jamshedpur and Bokaro have been at the vanguard of TQM movement from an All-India perspective.
- Multinationals such as Timken & Cummins have introduced state-of-the-art operating practices which have been fed into the local production environment.
- TATAs have operated here for nearly 100 years. Their socio-economic presence has added value to the work culture in this belt.
Industrious work force
- No militant trade unionism
- Man days lost due to Industrial strife among the lowest in India
- Shift working very well accepted regardless of the weather or season
- A culture of one Union one company
- Jharkhand is located close to Kolkata, Haldia & Paradeep Ports
- Ideal location for EOUs interested in emerging markets of South East Asia, because of freight advantage
- Several measures being taken to channelize exports
- An Inland container depot has been set up at Jamshedpur
Advantage of Logistics
- Logistical advantage in catering to markets within and adjoining states of West Bengal, Orissa, Bihar & Chhattisgarh. The combined population of Jharkhand and these four adjoining states is about 300 million, which is nearly 25% of the country's population.
- Ranchi, the capital - is well connected by AIR, RAIL & ROAD.
- Entire state has proper Rail & Road network. They are being augmented in a big way.
- Industrial towns have excellent Rail & Road connectivity with major market places in the country.
- Prime Minister's dream of Golden Quadrangular Super Highway passes through Jharkhand, very close to some of the cities, viz. Dhanbad, Hazaribagh, Bokaro, Giridh, and Barhi. These cities are well connected to the super highway via branch roads.
Flourishing supporting SSI's covering..
- Advanced Heat Treatment
- World Class Forgings
- Metal Presses catering to Export market
- Precision Castings
- Rubber Components
- Sophisticated Machine shops
- Auto Ancillaries
- Steel Plant recycling / Downstream industries
Top most Metallurgical Research Institutions in the State
- NML Jamshedpur
- SAIL R&D
- Institute of Foundry & Forge Technology
- Tata Steel R&D Centre
Excellent man-power base with reputed technical institutions in the state
- XLRI Jamshedpur
- Indian Institute of Coal Management Ranchi
- Indian School of Mines Dhanbad
- Birla Institute of Technology Ranchi
- National Institute of Technology Jamshedpur
- Management Development Centres and Technical Training Centres set up by large business houses
- BIT Sindri
- A number of Polytechnics, and numerous computer & other skill enriching training setups
- New private Engineering colleges sanctioned
Advantage of Nature
Adequate water resources, moderate climate, fertile and bio-diverse land provides immense scope for Hydel Power generation, Horticulture and Floriculture