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).

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 was Rs.921880.6 million; agriculture Rs.122210.8 million, Rs.149135.1 million industry, Rs.33863.0 million transport operators, Rs.47108.0 million professional & other services, Rs.389352.8 million personal loans, Rs.151815.7 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 (MSMEs) employing over 18 lakh people. The state government aims to generate employment opportunities for 60 lakh people by developing 10 lakh industries. It has a high potential to emerge industrial hub. The state provides investment opportunities in sectors such as mining and metals, power, infrastructure, manufacturing, and food processing as 3% of the 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.