Industry Honchos Promise Over Rs 50,000 Crore To Invest In Jharkhand

Recalling his initial days in Jamshedpur, Tata Group patriarch Ratan Tata on Thursday (February 16) said the east Indian state of Jharkhand has great potential and called upon domestic and global corporates to seize the immense investment opportunity.

Speaking at the Momentum Jharkhand Global Investors' Summit 2017, he said the state government is "keen to progress" and see itself standing among states that are enjoying the excitement of the new India.

Top industrialists such as Kumar Mangalam Birla, Naveen Jindal, Anil Agarwal and Rajesh Adani also promised to invest more than Rs 50,000 crore investment in the state.

Adani announced that the company is keen to invest in sectors such as renewable energy and chemical fertilisers. The Adani Group has earmarked 20,000 crore for various projects and looking to create more than 12,000 jobs.

Kumar Mangalam Birla of Aditya Birla Group said that Jharkhand is one of the top destination for the company.

The business tycoon also highlighted the Raghubar Das-led government's reform initiatives and ease of doing business in the state.

He also pointed out the significance of single window clearance.

The Birla group has announced Rs 5,000 crore investment and to create 22,000 crore employment in Jharkhand.

For Vedanta’s, Anil Agarwal, this summit is like a homecoming.
He pledged to invest Rs 5,000 crore in various projects in the state.

Agarwal was of the view that there is potential among the youth to be successful entrepreneurs and the government provides conducive environment to fulfill their aspirations.

Naveen Jindal recalled his journey by sharing an anecdote. He said: “Normally rural people don’t welcome industrialists to build industries but I was welcomed by 2000 youth when Jindal entered in Jharkhand.

He further said that Jindal has invested Rs 3,000 crore in Jharkhand in one year and earmarked Rs 20,000 crore in coming years.

Jindal Group is also looking to increase its CSR services in collaboration with schools in different parts of Jharkhand.