Momentum Jharkhand Investors Summit 2017

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Press Release

Momentum Jharkhand Groundbreaking Ceremony held at Hotwar, Ranchi

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May 18, 2017

18 May, 2017, Ranchi: The Government of Jharkhand held the Groundbreaking ceremony in Hotwar, Ranchi, Jharkhand, today on 18 May 2017 to lay the foundation for 21 projects which was initiated during the Momentum Jharkhand campaign. The ceremony is an advancement of the Global Investors Summit (GIS) organised by the Government of Jharkhand in February 2017 in Ranchi. The GIS, was an exceptional event and strongly marked the presence of Jharkhand on the world map as a leading investment destination. The event was an all-round success that ended with signing of 210 MoUs worth Rs 3.1 Lakh crore. An unprecedented 11,000-plus Indian and 600 foreign delegates registered for the event. The event was able to achieve its objective by attracting the investors from all over India as well as from international domain e.g. Russia, Korea, Belarus, China etc.

The 21 projects that are being grounded today, have an estimated direct investment inflow of more than INR 700 crores and a potential of generating 21,000+ direct jobs. It will also have a multiplier effect and the investments shall generate indirect employment in thousands (in excess of 50,000) and multi-fold increase in income for small and medium enterprises of the state. In addition, 3 projects were inaugurated by the Chief Minister in the “Grounbreaking Ceremony” organized and hosted by the Department of Industries. The grounding of these projects is the result of efforts put in by the state machinery and the leadership to attract the attention of investors and position the state as a leading investment destination in the country. Within a short span of 3 months from maiden Global Investors’ Summit, the Government of Jharkhand has made an unparalleled start of grounding the MoUs it had signed during the event.

These projects pertains to nineteen corporate from across the country and represent eight industry sectors which include textiles, food & feed processing, pharmaceuticals, waste management, health, footwear, warehousing & logistics. Some of the leading corporate promoting these projects are Orient Craft, Shahi Exports, Kaveri Agri Warehousing, Dev Aahar Food Industries, Shaw Pharma, Matrix Clothing, Pragati Beverages and Thriveni Apparels. The achievement ensures the fact that the Government of Jharkhand has successfully progressed in its course for breaking the shackle of traditional belief for being a primary sector industry destination and put the state in the league of premier industrial states of India that will act as the next growth engine for the country.

The ceremony started at 11:30 am, it was presided over by Shri Raghubar Das, Hon’ble Chief Minister of Jharkhand. C-Suite executives from the investing entities, representatives from industry, both local & national including related industry associations, state leadership, officials from Govt. of Jharkhand, general public, representatives from educational institutions and Press & Media were witness to the ceremony. The key representatives from the companies undertaking these projects shared with the audience, the details of their journey from intent-to-invest to actual grounding in the state. The ceremony took place at Hotwar, Near Khelgaon, Ranchi, the venue was a piece of land which is one of the locations earmarked to an investor company for setting up of the industry.

The event is a result of the efforts of the Government of Jharkhand, which aimed not only to attract investment but to facilitate them with required infrastructure and policy changes, wherever necessary, to help them ground their proposed project within such a short period. This ground breaking ceremony marked a new start for the state in industrialisation that will not only broaden its array in industry segments but also create financial wealth and opportunity for employment generation for local and migrant population that are engaged in industries all over the country. This ground breaking ceremony is a testimonial of the state’s determination to make Jharkhand as the most preferred investment destination in the country.