Jharkhand investor summit draws Rs 50,000 crore pledges

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Jharkhand on Thursday launched its investor summit – Momentum Jharkhand Global Investors’ Summit – where top industry honchos made a beeline and promised investments of over Rs 50,000 crore.

“We got the inspiration to organise the event from Prime Minister Modiji’s flagship project Make in India. The global investment summit is the culmination of a series of promotional shows that we have been doing over the months,” chief minister Raghuwar Das said.

From Ratan Tata, who’s professional life took off from Jamshedpur, to Aditya Birla, group head, Kumar Mangalam Birla, to Punit Goenka, managing director and CEO of media conglomerate Zee to Vedanta group founder Anil Agarwal, India Inc promised to enrich Jharkhand, which is endowed with nation’s 40% mineral wealth.

A friendly government at the Centre would accelerate the pace.

“Under Prime Minister Narendra Modi and his ministry India is at the threshold of projecting itself as new India. It’s only natural to say that India wouldn’t just grow at its traditional growth spots. Indian industry needs to diversify to areas where infrastructure is there. Jharkhand is one such area,” said Ratan Tata.

Putting its might behind the event organised by state chief minister, Union finance minister Arun Jaitley along with other central ministers including Venkaiah Naidu, Nitin Gadkari, Piyush Goyal, Smriti Irani and Jayant Sinha showed up.

Rajesh Adani, managing director, Adani Enterprises, promised investment over Rs 20,000 crore into Jharkhand over the next five years in projects like 1600 mw super-critical thermal project at Godda, Rs 3,000 crore in renewable energy and the rest in coal mining and a coal-to-chemical fertiliser project.

Punit Goenka spoke about signing a MoU by Essel Infraprojects with the state for enhancing energy, tourism, roads and urban infrastructure in the state.

Anil Agarwal of Vedanta Resources promised investment of Rs 5,000 crore and welcomed SMEs to set up shops to value-add to metals such as steel, aluminium or copper that the group produces.

Kumar Mangalam Birla said Rs 5,000 crore investment was already earmarked and that the group would participate in the forthcoming auction for mine development operators and also in the future auction of coal and bauxite mining.