Will Jharkhand fuel PM Modi’s Make in India by improving ease of doing business?

India Infoline News Service | Mumbai | September 26, 201609:10 IST

With Jharkhand escalating to the 3rd position from 29th in ease of doing business in the past 13 months since the BJP Government took charge, as per Chief Minister, Raghubar Das, it would be safe to consider the state as a gateway for Make in India.

Securing investments worth a whopping Rs 62,000 crore committed by large corporates such as Adani and Vedanta evincing interests in power, fertilizer, steel and chemicals, the Jharkhand government had set the wheels of success in motion for the state, at the outset of this year.

With Jharkhand escalating to the 3rd position from 29th in ease of doing business in the past 13 months since the BJP Government took charge, as per Chief Minister, Raghubar Das, it would be safe to consider the state as a gateway for Make in India.

While Jharkhand’s success is being currently talked about, the same has attracted flip comments as well. Despite claims made by the Union Rural Development Ministry of Jharkhand for exemplary performance in implementing the Mahatma Gandhi National Rural Employment Guarantee Scheme (NREGS), state government’s employment data has been exaggerated and the scheme suffers from large-scale delays in wage payments, as per few state-level NGOs.

The government of Jharkhand today held its seminal investment promotion road show in association with the Confederation of Indian Industry (CII) in the city, under the banner “Momentum Jharkhand Global Investors’ Summit 2017”. It was the campaign’s second rendezvous with Mumbai following the maiden meeting of the Jharkhand Investment Promotion Board in July this year. JIPB is a special body for planning and executing strategies to enhance Jharkhand's position as a global business centre.

While Jharkhand is a rich land, looming poverty makes it mandatory to eradicate the same for people. The mission to alleviate people from indigent lives would be possible with the cooperation of the industry and investors, as per CM Das. Further, he also sought people’s presence at the Momentum Jharkhand Global Investors’ Summit 2017, and reiterated his resolve to synergise education, skills development, infrastructural development and livelihood generation to empower the youth of Jharkhand and prevent further attrition of its human resources.

“The government of Shri. Raghubar Das, on being given the people’s mandate, in a matter of just 20 months, achieved political stability for the state. Our governance systems are focusing on making Jharkhand cities more amenable to housing global communities of investors through a strong focus on the social sector, principally healthcare, education and public recreation. We call upon investors to invest in our smart city project on Public-Private Partnership basis.” Besides, solid waste management, multimodal urban transport and housing for all are key sectors in which the government is soliciting private investments,” as per Chandreshwar Prasad Singh,  Minister of Urban Development, Government of Jharkhand.

Industry experts are buoyed at by Jharkhand’s industrial diversification plan while further strengthening its core sectors of mining - metallurgy and energy. Since investors’ confidence is fortified by factors of production, comprehensive connectivity for supply chains, ease of doing business, security and safety, the state government’s focus on the same is upbeat news.

Investment in steel plant of 10 MTPA with 35,000 cr - with a perspective expansion to 300 MTPA output in 10 years, lies in the pipeline, in addition to setting up a captive power plant. The project will boost Jharkhand’s share in national steel production from the present 17 per cent”, as per JSW.

Six new policies were launched in the road show. These entail Information Technology & IT Enabled Services (IT / ITeS), Business Process Outsourcing (BPO), Start-up (best start-up policy among seven leading states in terms of ecosystem incentives), Electronic Systems Design & Manufacturing (ESDM), Automobile and Auto Components (best in class incentives for OEMs and ancillaries), Textiles & Footwear.

Hiding notable potential under its belt, the challenge which lies before Jharkhand is to optimally utilize that potential. Perhaps, competitive policies secured by utmost commitment and integrity, could make room for exploiting the state’s full potential.
 

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