Jharkhand has around 40 percent of the country’s mineral wealth. The state is one of the largest producers of coal, mica and copper in India. Because of its large mineral reserves, mining and mineral extraction is the major industry in the state.
At current prices, the Gross State Domestic Product (GSDP) of Jharkhand in 2008-09 was US$ 16.5 billion. Between 2000-01 and 2008-09, the average annual GSDP growth was 12 per cent. In 2008-09, the tertiary sector’s share in GSDP was 43.2 per cent (US$ 6.4 billion). It was followed by the secondary sector’s contribution of 33.2 per cent (US$ 4.9 billion).
The secondary sector has been the fastest growing with an average growth rate of 19.3 per cent. The growth has primarily been driven by manufacturing. The tertiary sector has had an average growth rate of 11.1 per cent, driven by services. The primary sector’s contribution has fallen after the separation of Jharkhand from Bihar, which resulted in the state retaining a bulk of the combined industrial units, but losing the fertile Gangeticplains that became a part of the parent state (Bihar).
The per capita income of Jharkhand was US$ 574.1 in 2007-08. A comparison of asset ownership by households in Jharkhand vis-à-vis all-India shows that there is a great deal of scope of market expansion as the state moves towards economic development.
Jharkhand’s exports increased at a CAGR of about 15.6 per cent between 2000-01 and 2008-09. The state’s major exports are engineering goods and services, auto-components and chemicals.State Presentation (April 2010)
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