The much-awaited new industrial policy that was being worked out under, the then President’s Rule of the state, is likely to see the light of day shortly. Jharkhand inked as many as 71 MoUs with private players for investment of over Rs 2,95,858 crore to set up industrial projects. But the bad news, merely 13 companies managed to start work with a cumulative investment of Rs 1,600 crore during last 10 years.
Land acquisition for industrial venture remains a constant challenge that was experienced by eight coalition governments since the born of the state in November 2000. In the new industrial policy, both the tenancy acts are likely to be relaxed in the case of land acquisition for the industries, sources said.
At an interactive seminar with prospective investors organized by the Jharkhand government in association with the Associated Chambers of Commerce and Industry (Assocham) in New Delhi recently, the state’s chief secretary S K Chaudhary said that the new industrial policy was being introduced with an aim to encourage private investment in value-added products and generate mass employment opportunities to ensure inclusive growth.
According to chief secretary will introduce an nvestor-friendly climate and promote the state as an ideal investment destination.
The chief secretary said that the state had plan to upgrade road infrastructure for better connectivity. In next five years Jharkhand would have four-lane highways linking major cities. Besides, Ranchi and Bokaro would be connected with an expressway.
He also told the investors that the Ranchi airport was being modernized by the Airports Authority of India. By 2013, there could be chartered flights to and from Southeast Asian countries like Thailand, Malaysia and Indonesia to promote religious tourism.
The Chief secretary said, “Many corporate houses like Tatas and Jindal Steel and Power are planning to build privately-owned airports in Jamshedpur and Deoghar.” Assocham president Dilip Modi said ,” Skill development is a key area for public-private partnership. There is need to spread awareness on government policies to encourage investment opportunities.”