In recent times the department of industries arranged two successive stakeholders’ meets in New Delhi and Ranchi. Chief Minister Hemant Soren attended the summit in New Delhi.

During his address the Chief Minister said, “I have come here to listen to your inputs, your ideas. 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 further added, “Now, 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 per cent of subsidy for the investors in plant and machinery establishment cost. Apart from this, an additional subsidy provision of 5 per cent to the Women, Dalit and members from Tribal communities have been proposed in the draft. Also, the government aims to facilitate investors with 10 per cent 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 per cent 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.