Momentum Jharkhand Investors Summit 2017

Momentum Jharkhand

Global Investors Summit 2017.

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Press Release

Finance Minister Arun Jaitley inaugurates two-day ‘Momentum Jharkhand Global Investors’ Summit 2017’ in Ranchi

Feb 16, 2017

Jharkhand Chief Minister Raghubar Das highlights labour and policy reforms boosting the State’s Ease of Doing Business

More than 9,000 delegates from 28 countries are attending the two-day Summit promoting Jharkhand as India’s premier investment destination

Ranchi, 16 February 2017: In the presence of Hon’ble Chief Minister Shri Raghubar Das as well as other dignitaries and delegates, Union Finance Minister Shri Arun Jaitley today inaugurated the Government of Jharkhand’s maiden two-day (16 and 17 February) investment promotion event, ‘Momentum Jharkhand Global Investors’ Summit 2017’, at Khelgaon, Ranchi. Besides those from India, more than 9,000 delegates are attending the Summit from partner countries – Japan, Czech Republic, Tunisia and Mongolia – as well as from 28 other nations such as Australia, the US, the UK, Ukraine, Russia, China, Canada, Nepal, Nigeria, Singapore, Saudi Arabia, Sweden, Sudan, Korea, UAE, Italy, Oman, Venezuela and Pakistan, among others.

Hon’ble Prime Minister Shri Narendra Modi-ji sent a message of support to the Global Investors’ Summit: “Jharkhand has taken several noteworthy steps to improve the ‘Ease of Doing Business’. The State’s strategic location is key to the development of the entire Eastern region. Its mineral wealth has a vital role to play in the success of the ‘Make in India’ initiative. I’m sure the Summit will provide a good occasion for the State to apprise the global investor community about the conducive business climate that Jharkhand offers. I extend my best wishes for the success of the Summit and hope it will deliver concrete outcomes, enabling Jharkhand to emerge as one of India’s new growth engines.”

Speaking at the Summit, the Hon’ble Chief Minister of Jharkhand Shri Raghubar Das – in charge of the Industries department – stated, “On behalf of Jharkhand’s 32.5 million people, I welcome everyone to the Global Investors’ Summit. We are grateful to Hon’ble Prime Minister Shri Narendra Modi-ji, whose ‘Make in India’ mission has inspired the ‘Make in Jharkhand’ programme, and also for his message of support for the Summit. We are committed to the path of integrated development. To fulfil the aspirations of the people, the Jharkhand Government is tirelessly working on the agenda of ‘Good Government and Development’ with the aim of ‘Sabka Saath, Sabka Vikas’. We are especially concerned about the poor sections of society. We are creating a development model that ensures adequate participation of local people as key stakeholders in the journey towards socio-economic progress.”

Elaborating, Chief Minister Raghubar Das said: “We have all the ingredients required to support the growth of business. There is political stability and the law and order situation is good. We have formed a Land Bank for industrial development and there is ample availability of skilled human resources. We have also constituted a team of experts to support and facilitate investors at every stage.”

Echoing the Hon’ble Prime Minister’s message of support, Central Ministries such as Shri Arun Jaitley, Shri Nitin Gadkari, Shri Venkaiah Naidu, Shri Piyush Goyal, Smt Smriti Irani, Shri Sudarshan Bhagat and Shri Jayant Sinha were all present on the inaugural day. The ministers who spoke all expressed the Centre’s support for the Summit and Jharkhand’s development initiatives.

Hon’ble Minister of State for Power (Independent Charge) Shri Piyush Goyal said: “The integrity, enthusiasm and commitment of the present leadership of Jharkhand is commendable. As an investment destination, Jharkhand has huge potential because of the availability of low-cost power and low-cost land.”

Hon’ble Union Minister of Textiles Smt Smriti Irani said: “The Chief Minister has proposed a mega textile park at Deogarh. I’m hopeful we will see exponential growth with these initiatives. The Centre will extend full technical and financial support to uplift Jharkhand’s Textile industry.”

Hon’ble Union Minister of Road Transport, Highways and Shipping Shri Nitin Gadkari said: “The State is planning a multi-modal hub, which can become a growth engine for Jharkhand. While roads and Railways cost Rs1.5 and Rs1 each, waterways cost only 20 paise. Waterways will reduce the logistics costs of industry.”

Hon’ble Union Minister of Urban Development Shri Venkaiah Naidu said: “The Chief Minister has the support of the Centre since the Hon’ble Prime Minister is keen on cooperative federalism. That is why we are here to support the State. The youth of today want development. Ranchi will be established as India’s first green-field Smart City.”

In her address to the august gathering, Chief Secretary Smt Rajbala Verma stated: “We would like to convey the paradigm shift in Jharkhand’s investment landscape. We believe investors are our partners in progress. The State also has a long history of industrial harmony. We are looking at building mega industrial corridors and mini-growth centres.”

Industry leaders such as Shri Ratan Tata, Shri Kumar Mangalam Birla, Shri Shashi Ruia, Shri Naveen Jindal, Shri Anil Agarwal, Shri Naushad Forbes, Shri Rajesh Adani and Shri Sudhir Dhingra, among others, were also present during the inaugural proceedings. All of them expressed their support for the Summit, with some mentioning specific investments planned for Jharkhand.

Shri Ratan Tata, Interim Chairman, Tata Group, said: “My first job in India was in Jamshedpur where I worked for six years. To promote development, India will have to widen its base to new places. Jharkhand is one such place where the opportunity for development is immense. I urge my compatriots, both in India and beyond, to embrace the opportunities in this exciting land.”

Shri Kumar Mangalam Birla, Chairman, Aditya Birla Group, said: “Today, all our companies with major businesses such as metals, mining and mobile telephony have a presence in Jharkhand. The Chief Minister and his team are taking the State to another level. I am bullish on the future growth prospects in Jharkhand and we will raise our presence here even more significantly.”

Shri Anil Agarwal, Founder-Chairman, Vedanta Resources Plc, said: “This is a ghar-wapasi (home-coming) for me. In Jharkhand, we have no investments but it is my commitment we will invest Rs5,000 crore as a pilot investment. While 90% of exploration has happened globally, it is only 10% in India. The natural and human resources available in Jharkhand are not available anywhere.”

The Brand Ambassador of Jharkhand, Shri Mahendra Singh Dhoni, also voiced his support for the Summit during his short speech and identified himself as a son of Jharkhand’s soil. Ambassadors from partner countries and other nations present on the occasion also extended their support for Jharkhand as a premier investment destination.

About Jharkhand Global Investors Summit 2017

To boost the ‘Make in India’ initiative of Hon’ble Prime Minister Shri Narendra Modi, and develop high-value investment opportunities in the State, the Government of Jharkhand led by Hon’ble Chief Minister Shri Raghubar Das has organized the maiden ‘Momentum Jharkhand Global Investors Summit’ (16–17 February 2017) in Ranchi. The Summit aims to establish Jharkhand as a premier Investment destination for foreign and domestic investors in India.

Advantage Jharkhand:

  • Holds 40% of India’s natural mineral reserves – backbone of ‘Make In India’ mission
  • Ranks 3rd among Indian states in business reforms implementation1
  • GSDP grew at a CAGR of 10.5% from 2005 to 2015 – making it Eastern India’s second-fastest growing economy
  • First Indian state to have state-wide area network (SWAN) under National e-Governance

For further information, contact:

Mrinal Sapre +91 9930969889;