Jharkhand drew Rs 26,000 cr investment in 2 yrs: CM | ranchi | Hindustan Times
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Jharkhand drew Rs 26,000 cr investment in 2 yrs: CM

ranchi Updated: Feb 15, 2017 12:24 IST
Sanjoy Dey

Chief Minister Raghubar Das addressing media and bureaucrats at Project building secretariat in Ranchi on Tuesday(Diwakar Prasad/ Hindustan Times)

Jharkhand chief minister Raghubar Das on Tuesday claimed that the state has already received investments worth Rs 26,000 crore in the last two years and most of the projects are fast taking shape.

“The state’s image, which is of only signing memorandum of understanding (MoUs) but not being able to convert them into reality, has changed now, as proposals are being approved with a commitment to execute them within a fixed time frame,” Das said.

Das said the state’s first global investors’ summit has been organised not to draw headlines but to generate employment, eradicate poverty and stop migration from the state.

“Past governments signed MoUs with good intentions but did not get the expected results only due to political instability and lack of investor-friendly policies,” Das said, adding, “This government does not only sign MoUs, but also implements the projects on time.”

“Despite having the country’s 40% mineral resources, the state has been poor. It has immense potential to grow in every sector, whether tourism or industry, but its potential was not exploited properly,” Das said, adding, “we first framed ‘Jharkhand Industrial Investment Promotion Policy 2016 with a mission to make Jharkhand one of the richest states of the country”.

The CM said, “We have identified prospective sectors where investments could come and made separate policies for them. The positive steps taken by the government have now started showing results.”

He said, “We received 26,000 crore investments in agriculture, food processing, steel and cement in the past two years and most of them have taken shape on ground.”

The state government is pinning hopes on huge investment proposals during the two-day global investors’ summit in Ranchi. Sources said investments proposals worth Rs 3.5 lakh crore is likely.

Justifying his recent tours to different parts of the country and abroad, Das said, “We visited several states and countries during the last one year to invite investors and received a huge response to our call. Business heads from several countries are participating in the event,” he said.

Das said investment proposals signed during the summit would be executed within a timeframe. “MoUs will be signed with only those companies which are really interested in investing,” he added.

Officials have been directed to draft a separate lists of MoUs mentioning the timeframe of execution. “Officials are working to bifurcate the MoUs, which could be implemented in six-seven months and another that would take more than a year,” he said.

The image of the state has changed globally and it has emerged as a favoured destination for investment. “Left-wing extremism and crime have witnessed a steep fall in the state due to improved law and order in the last two years. We are committed to making Jharkhand extremism free by 2017,” he said.