Jharkhand: Ranks #4 in Ease of Doing Business in India
With more than two-fifth of the mineral wealth of the country, Jharkhand has an enviable logistical advantage with close proximity to significant ports such as Kolkata and Paradip. The state is home to one of India's largest commercial manufacturing units by Tata Motors. India's oldest and one of the largest steel plants, operated by world's 10th largest steel manufacturer - Tata steel, is located in Jamshedpur city. Due to high availability of metals and minerals such as steel and coal, Jharkhand is an ideal destination for setting auto-component units, power projects, cement plants, etc. Jharkhand is also the largest producer of coal (by value) in India.
Jharkhand has a high yield in production of food crops such as paddy and pulses and offers opportunities to exploit the market for agro-forestry products, cashew processing, medicinal plants processing, honey production and production of milk and meat products.
Key upcoming projects include:
- Mega Food Park in Ranchi, under the Mega Food Parks Scheme of the Ministry of Food Processing Industries, is spread across 23 ha
- IT Park and Software Technology Park of India (STPI) to be set up in Adityapur
- Automotive Vendor Park to be set up under the PPP mode in Adityapur
- Aluminium Park at Muri and Latehar
- Gems and Jewellery Park at Ranchi
- Ceramic Parks at Dhanbad, Sahebganj and Deoghar
- Smart Cities Mission, for which Ranchi is the city identified in Jharkhand
Key proposed industrial corridors:
- Amritsar Kolkata Industrial Corridor, passing through seven states including Jharkhand, to be developed around Eastern Dedicated Freight Corridor
- Industrial Corridor along Ranchi-Patratu-Ramgarh State Highway
- Koderma Bahragora Industrial Corridor
- Second largest producer of horticulture crops - green peas, tomato
- Largest producer of Tasar silk in India
- Contributes to 25% of India's total steel production
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- GSDP (Current price)
USD 38 bn (2016-17)
- GSDP growth rate (YoY)
- Per capita income
USD 966 (2016-17)
- FDI inflow
USD 113 mn (2000-17)
Nearly 60% of its population lies in the working age group of 15-59 years.
The total population of Jharkhand is 33 mn, which is equivalent to the population of Poland.
females/ 1000 males
Jharkhand is one of the leading producers of silk and Tasar silk in India. It accounts for 7% of silk and 62% of Tasar silk production of India. The produced Tasar is exported to the US, Europe and East Asian countries. Jharkhand Silk Textile and Handicraft Development Corporation Ltd. (JHARCRAFT) is a government of Jharkhand undertaking, established with an objective to create sustainable livelihood opportunities in the rural areas, based on sericulture, handloom, handicraft and other allied activities.
Jharkhand is ideally located in Eastern India, also called as Gateway to Eastern India. It produces a wide variety of fruits and vegetables, both for domestic consumption and export. Round the year cultivation of core crops such as cauliflower and cabbage, because of Jharkhand's conducive climate, is an added advantage. The state has about 18 lakh tons of high quality surplus vegetables produce.
Jharkhand is a leading industrial state in eastern India and also one of the richest mineral zones in the world, bestowed with 40% of the mineral resources of the country. Jharkhand presently produces about 20-25% of total steel being produced in the country. With the proposed expansion of a number of integrated steel plants, Jharkhand will be producing over 25 MT of steel and thus, will emerge as a potential ‘steel-hub of India’. Apart from steel, the state is the sole producer of cooking coal, uranium and pyrite, and ranks first in the production of coal, mica, kyanite and copper in India.
More than 800 auto ancillary and auto component units exist in Jamshedpur and Adityapur Auto Cluster. This cluster creates 20,000+ direct jobs and 50,000 indirect jobs. Steel is a major raw material for production of automotive and auto components. The expansion of steel plants in Jamshedpur and Bokaro gives an impetus to auto & auto components industry in the state.
Jharkhand is at the cusp of transforming itself into one of the most progressive states in the country. Availability of 24*7 power is critical to support its plan for rapid industrialization and economic growth. A total of 12.3 GW of additional capacity is intended to be installed by 2018.
While primary health indices of Jharkhand have seen steady improvement over the years, the state is keen to set up super-speciality hospitals, medical colleges, nursing colleges, paramedical institutes and other health services under the PPP model. It offers investment opportunities in medical education, tertiary care, super specialty hospitals, food and drug testing laboratories.
Jharkhand is endowed with immense bio-diversity, moderate climate, rich cultural and historical heritage, religious places of worship and ethnic aspects, which makes it the ultimate destination for tourists. The involvement of private sector, villagers and other stakeholders as partners in promotion and development of tourism industry of the state is an important and critical aspect, which would go a long way in maintenance, upkeep and sustenance of the assets and facilities created in this regard for a long time.
The state aims to accelerate the growth of IT sector and implement the policies created for the sector. It has launched Jharkhand IT/ITeS Policy, BPO/BPM Policy, ESDM Policy and Start Up Policy to attract investments in the sector. Further, it is looking for investments in the designated IT parks, software technology parks across the state.