New Industrial Policy being drafted with many provisions of Subsidy for investors

Ranchi: In recent times the department of industries has arranged two successive stakeholders’ meets in New Delhi and Ranchi.

Chief Minister Hemant Soren attended the summit in New Delhi during which he had said that he has come here to listen to inputs and ideas of industrialists.

"I want to create a system in the state where everyone has the opportunity to grow. We are drafting our new industrial policy, we felt we should listen to every stakeholder and that’s why we are here. Our state is ready to incorporate any industry in the state. We need a system for value addition to the state resource," he had said.

He had said that the State government wants to move beyond mineral-based industries to Agriculture, Food Processing, EMC, Automobile Sector, Pharmaceutical sectors and others.

The new industrial policy is being drafted by the Department of Industries. Many provisions of subsidy for the investors have been included in the first draft. The draft commits 25 percent of subsidy for the investors in plant and machinery establishment cost. Apart from this, an additional subsidy provision of 5 percent to the Women, Dalit and members from Tribal communities have been proposed in the draft. Also, The government aims to facilitate investors with 10 percent of additional subsidy, who come for investment in the state within the 2 Years time frame of the new policy coming into effect.

    To create an investment-friendly environment the government also plans to help new entrepreneurs, startups, small scale industries with 100 percent relaxation in SGST for up to 5 years. Whereas for Large and mega-scale industries this provision will be applicable for 7 and 9 Years respectively.

The government primarily aims to attract investment in textile, automobile, food processing, electronic manufacturing startups, logistics, education, tourism, IT, renewable energy, super speciality hospital and other sectors.

The department of industries is working extensively on creating a Pharma Park and Food Processing park in Chanho Block of Ranchi. The department has reserved an open area of 35 acres for the creation of Pharma Park.  As per the plan, the government proposes 55 plots for allocation to micro, small, medium and large scale pharma Industries. Out of these 55 plots 30 plots are reserved for the micro pharma industry, 14 plots for small units, 07 plots for medium units and 04 plots are reserved for large scale pharma production units.

Pharma Park will be equipped with basic infrastructure facilities including Administrative Building, Canteen, Utility Building, ETP, Roads, Drainage system, Bridges, Street Lights etc.

With the vision of taking the state of Jharkhand beyond mines and mineral-based industries, the government is working on the projects for creating food and meat processing parks in Jharkhand. Ranchi’s Barhe Industrial area is about to be transformed into a hub of meat and food processing units. More than 36 acres of land is reserved for food and meat processing units. There are 13 proposed plots to be allocated to the investors willing to start food processing units. The proposal has a provision for 11.85 acres of land to be reserved for the investors from SC/ST categories. 50 percent of these plots have already been allocated for the meat and food processing infrastructure. The government aims to attract an investment of Rs 250 crore with the creation of 6,000 direct and 20,000 indirect employment opportunities in Jharkhand.