Emotionally, I started my first job in India in Jamshedpur which was a part of Bihar then. Jharkhand’s richness in minerals and (State) government’s excitement to develop its immense natural resources make Jharkhand one of the most investment-friendly states in India. We from India and outside India need to grab this opportunity,” said former Chairman of Tata Sons Ratan Tata in inaugural session of first ever investment inviting two-day mega show Global Investors’ Summit under Momentum Jharkhand.
Not only legendary Tata, but business tycoons like Kumar Mangalam Birla, Anil Agrawal, Naveen Jindal, Shashi Ruia and Rajesh Adani to name a few among dozens, all found themselves emotionally connected to Jharkhand in one way or other.
This emotional connect appeared translating into concrete investment when these business tycoons promised to invest more than Rs 50,000 crores in the state.
“Under the Prime Minister and his government, India is on the threshold of projecting itself as a new India. However, the country will not be able to grow if it focuses only on traditional spots which have been industrialised and therefore it needs to widen base and extend industrialisation to other geographies as well. Jharkhand is one such place. Its richness in mineral wealth, its natural beauty and the excitement of developing it are immense. I think all of us, both in India and outside India, need to seize this opportunity in places like Jharkhand,” said Tata.
Claiming visit to Ranchi as homecoming, Vedanta Resources PlC Chairman Anil Agrawal recalled his days in Hazaribagh and around and also said that he will consider himself as Ambassador of Jharkhand in around the world. Aditya Birla Group Chairman Kumar Mangalam Birla also said that Jharkhand had always remained in the core of his business, as most of his businesses required minerals and coal in abundance.
“Jharkhand possesses immense business opportunities. Though we have no presence in Jharkhand in a significant way so far, I promise to make Rs 5,000 crores of investment this year itself in mining of diverse minerals,” said Agrawal. He added that there was potential and urge in local youth to be successful entrepreneurs. “The government is apparently providing supportive environment to fulfill their aspirations,” said Agrawal. He also said that his company was keen to invest in Start-Ups and Small and Medium Enterprises (SMEs).
Announcing Rs 5,000 crores of fresh investment, Birla said that the company was employing over 22,000 professionals directly and indirectly so far. He said that Raghubar Das-led government was taking so many initiatives for ease of doing business.
Rajesh Adani (Adani Group) announced that the company was proactively looking at opportunities in investing in sectors like renewable energy and chemical fertilisers. “The Group has earmarked Rs 20,000 crores for various projects and looking to create more than 12,000 jobs locally,” Adani said.
“Normally rural people don’t welcome industrialists to build industries. But I was welcomed by over 2,000 local youth when Jindal entered in Patratu with power plant,” recalled Naveen Jindal (Jindal Steel and Power). He added that Jindal had earmarked Rs 20,000 crores in coming years.
At the same time, Shashi Ruia (Essar Group) announced new BPO facility in Ranchi on the lines with one existing in Jamshedpur. He said that Jharkhand was having immense untapped opportunities in tourism and the company would try to explore this sector.