Momentum Jharkhand likely to generate 70,000 jobs


At least 70,000 jobs are likely to be created in Jharkhand through a total of 504 ventures for which the State has performed ground breaking ceremonies so far since its maiden global investors’ summit held in February 2017, officials from the State Industries Department said on Thursday.

Addressing media persons here on Thursday, Industries department Secretary K Ravi Kumar said that the State performed ground breaking ceremonies for at least 504 ventures from May 2017 to December 2018. These ventures are expected to bring an investment of Rs.50627 crore to the State and generate 72,682 direct jobs, he added. The projects will also provide around 1,90,000 indirect employments, a document released by the department said.

“We organised several branding and promotional events for luring investors to Jharkhand since 2016. At least five national and three international road shows were organized to spread awareness about the scope of investment in the State,” said Kumar, highlighting the achievements of the incumbent Government in boosting investments here.

Some of the major investors among the companies include Adani Power, Hindustan Urvarak & Rasayan Ltd, and National Thermal Power Corporation (NTPC), he said. The Government expects Adani Power alone to generate at least 2,000 jobs and two NTPC projects to generate 1,200 and 1,000 jobs respectively.

In a bid to facilitate investments in the State, the Government here also introduced sector specific policies, said Kumar, adding that at least seven policies were framed in Jharkhand since 2015 for making the investment process easy and present a clearer picture of returns to the investors. In 2015, the Government introduced the Jharkhand Industrial Park Policy, Jharkhand Export Policy, Jharkhand Feed Processing Industry Policy and Jharkhand Food Processing Industry Policy. In 2016, the State framed the Jharkhand Industrial & Investment Promotion Policy, Jharkhand Automobile & Auto Component Policy and Jharkhand Textile, Apparel & Footwear Policy.

“Our sector specific policies have helped encourage investments in the State. Ranchi, for example, is fast developing into a hub for textile, apparel and footwear sectors,” Kumar said.

Under the food processing policy, at least 73 food processing units were set up in Jharkhand with an investment of over Rs 500 crore, Kumar added.

Jharkhand has more than 40 per cent of the country’s mineral reserves and has been on a mission to utilise the resources to bring development through industrial growth. The State is also among the largest producers of Tussar silk and the Government has taken several initiatives in the recent past to boost and streamline production of Tussar here. In year 2017-2018, Jharkhand produced 2217 metric tonnes of Tussar. Around 7000 silk farmers were provided professional trainings in the same year.

In the past four years, Jharkhand also became the first state in India to constitute a council for Corporate Social Responsibility. The Jharkhand State Corporate Social Responsibility Council (JSCSRC) monitors and utilizes CSR funds for development of State, said Kumar.