Jharkhand to unveil new industrial policy

RANCHI, INDIA: Jharkhand will soon introduce a new industrial policy to encourage private investments in value added products and generate mass employment opportunities for promoting inclusive growth, state chief secretary S.K. Choudhury said on Sunday.

The pro-active policy will introduce an investor-friendly climate and promote Jharkhand as an ideal investment destination, he said while addressing an interactive seminar organised by The Associated Chambers of Commerce and Industry of India (Assocham).

Choudhury said the mineral-rich state plans to upgrade road infrastructure for better connectivity. “In the next five years, we will have four-lane highways linking major city centres. Ranchi and Bokaro will be connected with an expressway.”

At the same time, Ranchi airport is being modernised by the Airports Authority of India. By 2013, there could be chartered flights from southeast Asia countries like Thailand, Malaysia and Indonesia to promote religious tourism.

Many corporates like TISCO and Jindal Steel and Power are planning to build privately-owned airports in Jharkhand in Jamshedpur and Devghar, said Choudhury.

“With mining and broad-based industrial activity contributing to the state’s growth, we want to empower local people with skills in agriculture and rural sector. We would also like to promote irrigation, rural connectivity, health, education and non-farm rural activities.”

State development commissioner Debashish Gupta said varied agricultural economy in Jharkhand also supports a host of agro-based industries that includes food processing. The soil and climatic conditions are favourable for the growth of mushroom, tea, ornamental plants, spices and exotic agri products.

More area needs to be brought under cultivation through horizontal and vertical expansions, he said. More than 29 per cent of the state is covered by forests and woodlands.

Assocham president Dilip Modi said the state government must remove administrative bottlenecks to encourage private sector entrepreneurship. “Skill development is a key area for public private partnership. There is need to spread awareness on government policies to encourage investment opportunities.”

Modi said states like Jharkhand must grow at double digits if India has to achieve annual GDP growth rate of nine per cent.

Vinay Rai, chairman of Assocham National Council on Education and Employment, said the chamber can undertake initiatives to impart high quality education. This will elevate Jharkhand as an education hub.

Assocham secretary general D.S. Rawat said Jharkhand is a highly progressive state and an ideal investment destination for wide ranging industries. More than 70 large companies have a presence in the state. The chamber will soon open an office in Ranchi to track investments.

Jharkhand is rich in mineral resources like uranium, mica, bauxite, granite, gold, silver, graphite, magnetite, dolomite, fireclay, quartz, feldspar, coal, iron and copper. A large part of the state lies on Chhota Nagpur Plateau which is source of Koel, Damodar, Brahmani, Kharkai and Subarnarekha rivers.

About 40 per cent of India’s mineral resources are located here. Bridging the huge gap in provision of infrastructure services, a critical requirement for accelerated and inclusive growth requires large investments along with concurrent institutional and policy reforms, said Rawat.

Jharkhand is establishing three-tier growth centres at mega, mini and micro levels with mega growth centres at Barhi and Hazirabagh, mini growth centres with food park at Ranchi and apparel park at Chaibasa, software technology parks at Ranchi and Jameshedpur, and micro growth centres at block level to boost village-based industries.