Jharkhand Industrial and Investment Promotion Policy 2021

Jharkhand is endowed with a wide variety of natural resources and is one of the most attractive destinations for setting up mineral-based units because of its vast mineral reserves and an industrious workforce. Around 30% of Jharkhand’s geographical area is covered with highly bio-diverse forests, thus affording ample opportunities for the development of Minor Forest Produce-based industries and AYUSH centric units. Also, its agro-climatic conditions are suitable for the development of a wide variety of agro and allied industries.

The State Government, with an aim to accelerate Industrial development, has desired to set up Private, Joint Venture and PPP mode Industrial Park consisting of a minimum of 50 acres with a minimum of 15 industrial units. In the case of sector-specific industrial parks, the minimum area shall be 10 acres with a minimum of 5 industrial units through a Special Purpose Vehicle (SPV) registered under the Companies Act.

Jharkhand is progressing fast on adopting investor-friendly best practices in the state to facilitate investments and generate avenues of employment for the welfare of people. Measures like Jharkhand Investment Promotion Board, single-window clearance, online payments, online verification, thirdparty certifications, self-certification, time-bound approvals, availability of information online, standard operating procedures for approvals, deemed approvals, etc. have been adopted by most of the departments and government agencies.

Key Objective

1. To generate employment of 5,00,000 by attracting investments of more than Rs. 1,00,000 Crore in the state of Jharkhand.
2. To convert Jharkhand into a favoured destination for investors and to promote sustainable industrial growth of the State.
3. To create a time-bound, web-based transparent working mechanism for project clearance, Date of Production declaration and financial and non-financial assistance and clearances.
4. Strengthening the infrastructure such as warehouses, Inland Container Depots (ICDs), Cold Storages, rail-road connectivity from Industrial Clusters, Tool Rooms, etc.
5. To focus on industries with export potential and to encourage and motivate such industries for increasing the volume of exports and also to focus on export items manufactured from 100 percent indigenous inputs normally done by the MSME sector.
6. To establish linkages between OEMs and MSME/ ancillary industries.
7. Provide a simple, proactive, and supportive institutional mechanism for the rapid growth across sectors.
8. To promote employment generation in industrial and services sectors by providing facilitation under Industrial and Investment promotion Policy, MSME Act 2006 and other policy interventions.
9. To bring about technology and skill up gradation in the traditional sectors like Mineral-based products, Handicrafts, Handlooms, Agriculture and Processed Food products to enhance value addition and quality competitiveness.
10. To increase the level of processing, reduction of wastage, value addition, enhance the income of farmers as well as increase exports thereby resulting in the overall development of food and feed processing sector.
11. To promote innovation, start-ups and technology transfer.

Product Promotion Groups

Product Promotion Groups comprising of exporters, manufacturers and various related agencies are proposed to be established for proper interaction between manufacturers and exporters for evolving a strong support system. The promotion groups will be as follows:

1. Sericulture, Handloom, Textile and Handicraft Promotion.
2. Engineering, Chemical and Allied Products Promotion.
3. Agriculture, Forest Product, Food Processing and Value Addition activity promotion.
4. Mineral Product and Metallurgical Product Promotion.
5. Electronics and Software Products Promotion.
6. Refractory Product, Granite and Precious Stone Product Promotion

Focus Sectors

Jharkhand has a natural advantage in some sectors like Mining, Mineral based industries, steel, coalbased thermal power plants, coal to poly-generation industry, food processing, automobile and auto component, textiles and handicrafts, etc. However, the full potential of the state is yet to be exploited, especially for employment generation and improving the living standards of the people.