Jharkhand is India’s 28th state that was born out of the Bihar Reorganization Act on the 15th of November 15, 2000 – also the  birth anniversary of the legendary tribal revolutionary of the region, Birsa Munda.  Jharkhand is known for its rich mineral resources like uranium, mica, bauxite, granite, gold, silver, graphite, magnetite, dolomite, fireclay, quartz, feldspar, coal (35% of indian reserves), iron, copper (20% of indian reserves) etc. Forests and woodlands occupy more than 29% of the state – among the highest in India.  The state had organised and hosted a “Momentum Jharkhand Global Investors’ Summit 2017” recently.  We bring you a short report about it here …

The two-day “Momentum Jharkhand Global Investors’ Summit 2017” hosted by the State was attended by about 6,200 delegates. Partner countries were Japan, the Czech Republic, Tunisia and Mongolia.  The Jharkhand government projected investment proposals worth INR 3 Lakh Crore during this maiden global investment summit that took place this February.  The Chief secretary to the state government, Rajbala Verma, said the state has bagged investments to the tune of INR 50,000 crore from overseas before the domestic roadshows were held last year.  Stating that investment promotional roadshows have improved Jharkhand’s image both at home and abroad, Verma said the state is ready to invest in products across four sectors that the investors are looking to explore.  “The investment promotional tours conducted last year have fetched us proposals worth INR 50,000 crore from both Indian and overseas investors. Some of the investors are inking Memoranda of Understanding (MoUs) with us during the summit,” Verma told mediapersons.  “Overall, we are projecting investment proposals to the tune of INR 3 Lakh Crore during the summit,” she added.

The event took place at Ranchi on February 16 and 17 and was attended by delegations from 25 countries. The presence of head-honchos from India’s front-running corporate houses and inking multi-sectoral deals in business to government (B2G) and government-to-government (G2G) meetings were highlights during the summit.  Several Union cabinet ministers, including finance minister Arun Jaitley and industries and commerce minister Nirmala Sitharaman, were present.

Addressing the Momentum Jharkhand Global Investor’s summit 2017, Union Minister of Law and justice, Ravi Shankar Prasad spoke about the development of the country. The Union Minister stated that 111 crore people in the country have Aadhar cards and also speaking on the digital growth of India, Prasad said that in the last two years 72 mobile manufacturers have come in India. Also citing the importance of Income Tax payments, Ravi Shankar Prasad said that while the country has 125 crore people only 3.70 crore pay taxes. He also spoke about the development of Jharkhand and said that the state is becoming digital by days.

Earlier, asserting that Jharkhand is of strategic importance to the Adani Group, Adani Enterprises Managing Director Rajesh Adani had said that they would invest INR 20,000 Crore in the various sectors, including investments into an ultra mega power plant. Adani Power Jharkhand Ltd has signed an MoU for setting up the ultra mega power project in Godda district, and construction is likely to start later this year, he said. In the renewable energy sector, Adani said that the group will set up a 500 mws solar power project worth INR 3,000 Crore in the state.  The group will also invest INR 700 Crores in coal block mining, he said, adding that the company intends to set up an integrated fertiliser complex here as well.

Prime Minister Narendra Modi exuded confidence that ‘Momentum Jharkhand Global Investors’ Summit 2017′ will create several opportunities for people of the state and “give wings to their aspirations”.  In a tweet, he had posted: “Best wishes for @InvestJharkhand. May the deliberations in this Summit lead to fruitful outcomes that contribute to Jharkhand’s growth.”  In another tweet, Modi asserted that skills and determination of the people of Jharkhand and proactive efforts of the state government are bringing record development in the state.  “Investment generated from @InvestJharkhand will create several opportunities for people of the state and give wings to their aspirations,” the Prime Minister had added.


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