NEW DELHI: Inaugurating the global investors summit ‘Momentum Jharkhand’, Union finance minister Arun Jaitley on Thursday appealed to corporate houses to invest in the state as a politically stable government has made economic development as its main agenda. Speaking as chief guest after inaugurating the 2-day first global investors' summit, Mr Jaitley said that Jharkhand has a huge potential with its natural resources and potential for investment to grow at least 4-5 per cent ahead of the national average. He said: “Today, it is marginally one per cent above national average. After a spate of coalition government, the mineral-rich state has now a stable government and huge investment opportunities for investors.”
Referring to political instability in the state ever since it was formed, Mr Jailtey said, “When Jharkhand was a part of Bihar, a political model was developing which envisaged that you don’t need economic development to win elections”. Hitting out at the previous government for low investment and economic backwardness, the finance minister said that the state, which was carved out of Bihar in November 2000, has suffered due to flawed economic policies and there was inherent reluctance in allowing big industries to come and participate in economic progress.
“Finally, we have now seen the maturing of Jharkhand both from point of view of governance, also from point of view of policy,” added Mr Jaitley highlighting growth potential of the state in terms of urbanisation, infrastructure, highways, airports and more cities. The finance minister told the participating corporate leaders that there is investment opportunity in the state as well as potential for getting ‘great’ returns. “Jamshedpur was the first planned e-city of the country which is far more than smart cities concept. In 1928, India won the Hockey Olympic gold and the team was led by a tribal hockey player of the state.” Jharkhand Chief Minister, Raghubar Das said that the next edition of the state’s global investor summit will be held in 2019-20 and three-day ‘Pravasi Jharkhandi’ summit will be held from November 20 to 30, next year. Union Ministers Nitin Gadkari, M. Venkaiah Naidu, Piyush Goyal, Smriti Irani, Sudarshan Bhagat and Jayant Sinha were present at the meet along with top business leaders of the country.
