Momentum Jharkhand Investors Summit 2017

Momentum Jharkhand

Global Investors Summit 2017.

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Press Release

Jharkhand’s investment promotion campaign poised to go global

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Sep 20, 2016

  • Six new policies aimed at diversifying state’s industrial landscape launched
  • Several MoUs catering to sectors such as multispecialty healthcare and medical education, skills development and technical education, textiles, tourism, and e-governance signed
  • Preparations for first international roadshow in the USA conclude
  • Sector-specific investor awareness workshops conducted in collaboration with industry

Momentum Jharkhand Investors Summit 2017Mumbai, 20 September 2016: The Government of Jharkhand today held its seminal investment promotion roadshow in association with the Confederation of Indian Industry (CII) in the city, under the banner “Momentum Jharkhand Global Investors’ Summit 2017”. It was the campaign’s second rendezvous with Mumbai following the maiden meeting of the Jharkhand Investment Promotion Board in July this year. JIPB is a special body for planning and executing strategies to enhance Jharkhand’s position as a global business centre.

In his opening remarks, Shri Ninad Karpe, CMD – Aptech Ltd commended the Government of Jharkhand for boosting the brand visibility of the State through a strong focus on cluster-centric approach for sustainable industrial diversification.

In her keynote address, Smt. Rajbala Verma, Chief Secretary, Jharkhand said, “Given that Mumbai accounts for a large chunk of the country’s industrial output and national GDP, we have come here again to make Jharkhand more visible to the investors of this city.” Smt. Verma highlighted some recent MoUs signed by the Government of Jharkhand in the recent past. “We have successfully matched investment opportunities with global industry trends – through focused and dynamic policies catering to a wide spectrum of sectors. These policies are indicative of the larger intent of business reforms,” she added.

Smt. Verma stated that Jharkhand is about to launch a dedicated Start-up policy and a highly responsive e-mentoring system for start-up entrepreneurs, and that the Chief Minister recently supervised the inking of MoUs with 42 service providers in the area of skills development.

Shri Gaurav Taneja of the campaign’s knowledge partner Ernst & Young, said, “In the last 18 months, we have seen paradigm shifts in the state. Jharkhand is leading nationally in e-Governance, especially under Digital India’s e-services and digitization fronts. The rollout of the National Optic Fibre System to the remotest parts of Jharkhand is being accomplished at a very fast pace. Jharkhand’s forward-looking policies have now put the State on the international investor map. This leadership has actually brought a revolutionary attitudinal shift – from the role of a regulator to that of a facilitator. From multimodal infrastructure, housing, power generation, to higher education and skills development, the Government of Jharkhand has taken momentous steps that match global benchmarks.”

Industries Secretary Shri Sunil Kumar Barnwal persuasively presented the State’s diverse investment opportunities to the audience. “The Industrial and Investment Promotion Policy 2016 forms the basic framework of our mission to make Jharkhand the most business-friendly state in India. There are several investment-ready projects, information on which is publicly available through our publication, Shelf of Projects. The projects span across sectors such as smart city development, electronic manufacturing, BPO, food processing, industrial parks, healthcare and education, etc. We have succeeded in concurrently establishing thriving systems of single-window clearance, time-bound grievance redress, industry consultation mechanisms, and multi-pronged incentive schemes,” he added.

Shri Barnwal informed the audience that Jharkhand’s air-cargo hub will be inaugurated soon, boosting the role of the State in logistics in Eastern India and further. “The competitive costs of doing business in Jharkhand are the lowest in India, especially owing to power tariff and liberalized labour regulation,” he said.

On the start-up front, Shri Barnwal informed the audience that the State Government has brought on board a team from IIM Ahmedabad to help set up a centralised Start-up Incubation Facility. On the sidelines of the roadshow, the Government was scheduled to interact with several venture capitalists to promote the government’s start-up strategy.

Sharing his experience, Shri Sudhir Dhingra, Chairman of Orient Craft Ltd, said, “In my experience of 41 years, I believe no government has understood the all-encompassing social and economic benefits of the textiles industry, before my meeting with Chief Minister Shri Raghubar Das and his team. Ever since the meeting, the Government has tirelessly wanted to take the relationship to fruition. The textiles industry has an unprecedented opportunity through Jharkhand to enhance its competitiveness and competency to global standards, and catch up with Bangladesh, China and Southeast Asia – and expand India’s global trade share of the textiles sector from a meagre US$16 billion out of US$600 billion. Today the Indian textiles sector employs about 40 million people. Jharkhand is among the very few systems with a genuine promise and political will to do justice to this labour-intensive sector. Orient Craft will be signing two agreements with Jharkhand – one to set up a park of more than 140 acres and the second, to set up a skilling centre for the sector.”

Shri Seshagiri Rao, Joint Managing Director and Group CFO, JSW Group, expressed confidence in Jharkhand’s industrial diversification plan while further strengthening its core sectors of mining, metallurgy and energy. “The four prime determinants of investor confidence are – factors of production, comprehensive connectivity for supply chains, ease of doing business and security and safety – I am happy that the Government of Chief Minister Shri Raghubar Das is strongly focused on these four key factors. We will invest in a steel plant of 10 MTPA with 35,000 cr – with a perspective expansion to 300 MTPA output in 10 years. Also, we will set up a captive power plant. This project will boost Jharkhand’s share in national steel production from the present 17%,” he said.

Shri T.V. Narendran, Managing Director, Tata Steel (India & S.E. Asia) emphasised the key role Jharkhand plays in boosting global investments in India’s exploration and mining sector with the primary objective of achieving greater efficiencies. “Industries Secretary Mr Barnwal did well to mention that the time the foundation of India’s first steel plant, the backbone of Make in India was being conceived, around the same time, this hotel in Mumbai was being conceived by Tata Group’s founder JN Tata. Jharkhand already has an international presence. Our investments in the State involve joint ventures with the most established steel companies in Japan and Australia. Jharkhand is rich in minerals, but is richer in human resources. What better to have an ecosystem that houses the Indian Bureau of Mines and knowledge hubs such as XLRI. Jharkhand is increasingly creating hope and excitement for Eastern India, in a highly competitive ecology involving East and Southeast Asia. As someone with more than 100 years of experience in the region, we are convinced that this is the best time to invest in Jharkhand,” he added.

Shri Suman Bose, MD & CEO of Seimens Industry Software, “With a childhood in Deogarh and being an alumnus of XLRI Jamshedpur, this is homecoming for me. I am convinced that India’s growth agenda is pivoted on the imperative of inclusive empowerment through skilling and livelihood creation. We are contributing by building integrated systems for training and certification across a diverse array of sectors of Jharkhand, including heavy industry and manufacturing. What surprised me was the speed and enthusiasm with which the Government of Jharkhand reached out to us and closed the loop at every step.”

Dr Smt. Neera Yadav, Hon’ble Minister of Human Resource Development, Government of Jharkhand, stressed on the centrality of the skills development agenda of the Government in this campaign. “MoUs have been signed with CISCO, ORACLE and Hewlett Packard among global corporations in the field of skills development, so that Jharkhand is ready for the next phase of technology-leveraged industrial diversification. This strategy will greatly develop the support system that Jharkhand’s key industries need to compete globally. Jharkhand’s present higher education gross enrolment ratio is 16.1%. But I am convinced that soon we will vault over the national average and start aspiring to better global standards. We aim to set up more than 600 institutions of higher education over the coming years. I call upon private institutions to partner with us in our mission,” she added, commending the inspiring vision and leadership of Hon’ble Chief Minister Shri Das.

Shri Chandreshwar Prasad Singh, Hon’ble Minister of Urban Development, Government of Jharkhand, said, “The government of Shri Raghubar Das, on being given the people’s mandate, in a matter of just 20 months, achieved political stability for the state. Our governance systems are focusing on making Jharkhand cities more amenable to housing global communities of investors through a strong focus on the social sector, principally healthcare, education and public recreation. We call upon investors to invest in our smart city project on Public-Private Partnership basis.” Besides, solid waste management, multimodal urban transport and housing for all are key sectors in which the government is soliciting private investments.

Hon’ble Chief Minister of Jharkhand, Shri Raghubar Das, in his address, said, “While Mumbai is the Gateway to India, Jharkhand is fast emerging as the gateway to ‘Make In India’. Our campaign took off seven months ago with the blessings of Hon’ble Prime Minister Shri Narendra Modi in this city, during the ‘Make in India’ Week. It was the vision of our foremost industrial pioneers, Jamshetji Tata that set the tone for Make in India back in 1907 in Jamshedpur. Jharkhand has incomparable natural beauty. Its beauty has the potential to pull people from across the oceans. Jharkhand’s people and institutions have made a global mark in areas from manufacturing to education and sports. Jharkhand is a rich land. But poverty still looms large within. It is our mission to deliver our people out of this poverty. You, the industry and investors, are our partners in this mission. Our governance is policy-driven and one of high integrity. We are committed to sustainable wealth creation and shared prosperity. We call upon one and all to be part of our mission, Momentum Jharkhand Global Investors’ Summit 2017, as a team.” Shri Das reiterated his resolve to synergise education, skills development, infrastructural development and livelihood generation to empower the youth of Jharkhand and prevent further attrition of its human resource.

Shri Amit Khare, Additional Chief Secretary and Development Commissioner, Government of Jharkhand, delivered the note of thanks. “Jharkhand has tremendous potential. The challenge is to optimally utilize that potential. Our focus is on ensuring the most competitive policies, which should be secured by utmost commitment and integrity. The key driver is the decisiveness of the team Jharkhand leadership. Every commitment given will be honoured.”

 

Details of Memoranda of Understanding (MoU) signed during the Mumbai roadshow:

  • Orient Craft Ltd. – Textiles Sector – to set up two manufacturing parks of more than 140 acres with an investment of INR1,500 crore
  • MNR Education Trust – Education Sector – to set up an integrated Medical & Paramedical Education Campus of more than 80 acres – through investment of INR350 crore over five years
  • Tata Steel Ltd – Mining and Metallurgy Sector – CSR mandate to set up a soft-skills system for comprehensive training of youth
  • Tech Mahindra – IT-ITeS – strategic MoU for skills development and student exchange programmes for sectors such as robotics and cloud computing, and to set up an incubation centre and BPO unit.
  • Desun Hospital & Heart Research Institute – Healthcare & Medical Education – to set up a 500-bed multispecialty hospital, a 1,300-seat nursing institution and a 300-seat paramedic institution in Ranchi.
  • Fuel – Skills Development – to conduct skills assessment and capacity building programmes across the state over 10 years.
  • Vakarangee Limited – e-Governance – to set up more than 1,600 (of which 1,100 will be in rural areas) Vakarangee kendras (centres) across Jharkhand over the next 5 years to serve e-services (B2B & B2C) to public facilities.
  • Bokaro Sewa Trust in association with Rama University Kanpur – Healthcare & Medical Education – to set up a 300-bed Super-specialty hospital and Medical research centre in Bokaro with an investment of INR100 crore.

The roadshow witnessed the launch of six new policies, representing a strategic diversification of the mineral and human resource rich state’s industrial landscape. The policies launched:

  • Information Technology & IT Enabled Services (IT/ITeS)
  • Business Process Outsourcing (BPO)
  • Start-up (best start-up policy among seven leading states in terms of ecosystem incentives)
  • Electronic Systems Design & Manufacturing (ESDM)
  • Automobile and Auto Components (best in class incentives for OEMs and ancillaries)
  • Textiles & Footwear

Parallel workshops catering to investor awareness about the above sectors were conducted following the main programme, in collaboration with industry representatives.

  • Automobiles and Auto Components
  • Textiles and Apparels
  • Information Technology and IT Enabled Services
  • Higher and Technical Education
  • Healthcare and Medical Education
  • Urban Infrastructure

These sessions focused on salient features of concerned policies, highlighting the sectoral investment opportunities and responding to investor queries.

Momentum Jharkhand’s International outreach:

The American sojourn following the Mumbai road show comprises an intense 5 day outreach and networking programme. The delegation led by Chief Minister Shri Das would first attend MINEXPO 2016 in Las Vegas, where the state has a dedicated pavilion. Jharkhand, with over 40 per cent of India’s mineral reserves, is the backbone of the ‘Make in India’ Mission. The state accounts for 27 per cent of national coal reserves and 26 per cent iron ore besides others.

 The expo would be followed by a visit to San Francisco where the delegation is scheduled to visit Hewlett Packard Enterprise with which memoranda of understanding were recently signed in the areas of tele-education (virtual classrooms) and IT enabled primary healthcare. Another visit to CISCO’s San Jose headquarters is on the cards, following the MoU which focuses on developing skills required for the new digital economy by providing them with the required technical knowledge through Cisco Networking Academy Program.

The final stop would be in New York on the East Coast. The main road show expects participation of over 500 industry representatives. During this programme, the Government is looking to seal collaborations with leading organizations, industrial institutions, chambers of commerce and trade bodies with the objective of boosting American familiarization with and investment in the state. A goodwill function to host Diaspora with roots in Jharkhand and erstwhile united Bihar state will follow the road show.

The Government of Jharkhand has further planned its second international circuit to reach out to East Asia – primarily China, Japan and Korea.

About Momentum Jharkhand Global Investors’ Summit 2017

“Momentum Jharkhand” Global Investors Summit, scheduled for 16-17 February 2017 in capital Ranchi, is a global networking platform, the Summit is being partnered with Ministry of External Affairs, Government of India. Leaders of several countries and prominent global business leaders will grace the Summit. This is a first of its kind Summit planned in Jharkhand which will witness participation from business heads, academicians and thought leaders from around the globe.

So far the government has held fruitful road shows in Bengaluru, Hyderabad, Delhi and Kolkata. In Mumbai, on the sidelines of the maiden JIPB meet, the state government received 27 investment proposals worth Rs 1 lakh crore across the focus sectors, besides the critical areas of education, healthcare and skilling. During the road shows, Jharkhand Government signed some crucial agreements with global corporations like CISCO and Oracle to impart skilling to prepare for the technology leveraged future. Two MoUs were also signed with global technology major Hewlett Packard for e-healthcare and tele-education respectively, apart from a MoU with cement giant ACC Ltd. towards capacity expansion. The road shows have greatly helped in strengthening the state’s networks with Indian enterprises, especially in the MSME sector, critical to ‘Make in Jharkhand’.

     Advantage Jharkhand:

  • Jharkhand – holding 40% of the country’s natural mineral reserves – is the backbone of the Indian government’s ‘Make In India’ mission
  • Jharkhand ranks 3rd among Indian states in business reforms implementation
  • Jharkhand’s GSDP grew at a CAGR of 10.5% from 2005 to 2015 – making it Eastern India’s second fastest growing economy
  • Digital Jharkhand: Jharkhand is the first state in India to have state wide area network (SWAN) under the National e-Governance Plan
  • Human Resource Hub: The state is home to several premier institutes like XLRI and NIT Jamshedpur, IIM Ranchi, Indian School of Mines Dhanbad, BIT Mesra, etc.

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