Jharkhand has attracted in four years (2018-19 and2021-22) new investment proposals of over Rs.1.10 lac cr, completed projects of Rs.52,893 cr, and revived pending proposals worth Rs.287.45 cr, according to the study jointly conducted by the MSME Export Promotion Council and the Confederation of Organic Food Producers & Marketing Agencies (COII).
While in 2020-21 the new investment proposals were of Rs.20088.87 cr, in 2021-22 of Rs.2797998 cr. registering an increase of Rs.7891.11 cr, says the Chairman of the MSME EPC D S Rawat while releasing the study today.
The total investment projects outstanding in 2021-22 were worth Rs.604112.44 cr and under implementation Rs.267836.15 cr as against total outstanding projects in 2020-21 of Rs.672852.40 cr and under implementation Rs.26783.61 cr.
The study has revealed that the state has been registering growth on all fronts; agriculture, industrial, social, education, health, infrastructure and attracting significant investments from the private sector.
The state accounts for more than 40% of the mineral resources of India.In 2021-22,the total credit disbursed by all scheduled commercial banks by economic activity were Rs 921880.6 million;agriculture Rs 122210.8 million; industry Rs 1491351 million;transport operators, Rs 33863.0 million;professional and other services,Rs 389352.8 million personal loans;Rs151815.7 million trade; Rs 11312.3 million finance;and Miscellaneous Rs 17082.8 million.
The state government has geared up for its fast development to strengthen its economic growth and to generate employment for the youths.
Currently, there are 3.76 lakh micro, small and medium enterprises( NSMEs) employing over 18 lakh people by developing 10 lakh industries. It has high potential to emerge as industrial hum.
The state provides investment opportunities in sectors such as mining and metals, power, infrastructure, manufacturing and food processing as 3% of total vegetable production of the country comes from the state.
Jharkhand is one of the potential natural resources states in India and more than 1500 medicinal and aromatic species are found which contributes 5% of the overall production of herbal medicinal produce in the country. The agriculture economy is dependent on nature and the productivity of rice is 1950kg/ha and for food grain, it is 43.10 MT.
Note: The text of this story was released in the form of a press release by MSME EXPORT PROMOTION COUNCIL (MSME EPC)Corporate Office: MSME HOUSE C-9/9848, Vasant Kunj, New Delhi-110070