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Jharkhand will hold a prominent place in manufacturing in India, says Arun Jaitley
Feb 16, 2017

Ranchi, 16 February 2017: Jharkhand is one of the few states of India which still defines itself as a predominantly manufacturing state, according to Union Finance Minister, Mr Arun Jaitley. “I am confident that Jharkhand will hold a prominent place in manufacturing in India. Its potential is so high that it can grow 4-5% higher than the national average,” Mr Jaitley said at the inaugural ceremony today of two-day Jharkhand Global Investor’s Summit ‘Momentum Jharkhand’ organized by the State Government with the Confederation of Indian Industry (CII) as the National Partner.


“In organizing the Global Investor’s Summit, Jharkhand has made the first major step towards robust industrial activities,” Mr Jaitley said, adding that Jharkhand’s growth potential is “very high” in both manufacturing and agriculture.


Mr Raghubar Das, Chief Minister of Jharkhand, said the government is working towards achieving the Prime Minister’s vision to double farmers’ income by 2020. A proposal is being prepared to construct expressway to connect Ranchi-Bokaro-Dhanbad through Public-Private Partnership model, he said, adding that there is also a proposal in place to build an industrial corridor (Golden Triangle) along Ranchi, Dhanbad and Jamshedpur through six lane expressway.


The Chief Minister said, “Our state animal elephant is flying today. This flight is not abnormal. This is a resolution to create opportunities out of adversity. This is the flight of our dreams. This flight represents the dream of 32.5 million people. The green coloured wings of elephant symbolize the natural wealth that our state is bestowed with. The blue colored ears reflect peace and safety in the state and the red color symbolizes our vividness, resolution and determination to turn our dreams into reality.”


The next Global Investor’s Summit would be held in 2019-20, Mr Das said adding that the State Government will organising Pravasi Jharkhandi Sammelan from 28th to 30th November next year.


Mr Nitin Gadkari, Minister for Road Transport, informed the audience of the Centre’s decision to set up a multi-model hub at Sahebganj through which resources can be transported from routes like Haldia-Sahebganj through waterways. “This will significantly boost export and import. The model is being made at a budget of Rs 290 crore by Larsen and Turbo. The project will be unveiled by the Prime Minister, Mr Narendra Modi on 30 May, Mr Gadkari said, adding that the Centre will help the State Government improve the Ranchi-Jamshedpur Road.


Mr Venkaiah Naidu, Union Minister for Urban Development, Housing and Urban Poverty Alleviation and Information & Broadcasting, said Ranchi will perhaps become the first green field city in the country.


Ms Smriti Zubin Irani, Union Textiles Minister, vowed to support the weavers of Jharkhand. “The soul of Jharkhand lies in its handloom legacy,” she said.


Mr Piyush Goyal, Minister of State (Independent Charge) for Power, Coal, New and Renewable Energy and Mines said, “The recently launched TAMRA app can benefit the Jharkhand state.” Jharkhand is the most important state in his department.


Mahendra Singh Dhoni, the brand ambassador of Momentum Jharkhand, said, “A good leader is incomplete without a team. If you want to see what it can and what it can deserve, we have to work together.” “In your success, we shall measure ours,” he told the audience.


Mr Ratan Tata who started his career with TATA Steel in Jamshedpur, said, “Jharkhand is one such state where opportunities are immense. We are here to embrace the opportunity.”


Dr Naushad Forbes, President, CII, complimented the Chief Minister for conceptualizing and developing a robust program for this first ever investor summit in Jharkhand. “His approach as facilitator and catalyst for investors is in the right direction and we appreciate his personal commitment to the state’s development and his support to Industry at large,” Dr Forbes said.

“Jharkhand’s push for greater industrialization today has evolved into a definitive campaign for job creation and manufacturing. Industry has been an active participant in this endeavor. The State Government has been assisting Industry in every possible way through policy facilitation, investor hand-holding, and creation of the right ecosystem with infrastructure and ease of doing business, Dr Forbes said, adding that this approach has resulted in the State’s emergence as a preferred investment destination.


Mr Rajesh Adani of Adani Group said in next five years, they intend to invest Rs 20,000 crore in Jharkhand.


Mr Kumar Manglam said a project is in the offing at Bokaro, and also committed Rs 5,000 crore investment in Jharkhand through group outfits. He also revealed that Idea will invest Rs 1000 Cr for 1500 3G 4G mobile sites.


Mr Anil Agarwal of the Vedanta Group pledged to support start-up opportunities, while Mr Navin Jindal, Head, Jindal Group said they are aiming to expand businesses in Jharkhand.


Japan Ambassador Mr Kenji Hiranatsu, Czech Republic Ambassador Mr Milan Hovorka, Mongolian Ambassador Gonchig Ganbold, Tunisian AmbassadorNejmeddin Lakhal, and Australian High Commissioner Ms Harinder Sidhu, also spoke.


Mr Chandrajit Banerjee, Director General, CII, was also present at the inaugural session of the two-day Global Summit.


The welcome speech was delivered by Chief Secretary Ms Rajbala Verma while the vote of thanks was given by Mr Sunil Barnwal, the Industry Secretary.

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