Jharkhand is located in the eastern part of India. The natural resources, policy incentives and location-specific advantages of Jharkhand support investments in sectors such as mining and metal extraction, engineering, iron and steel, and chemicals.
Jharkhand is rich in mineral resources such as coal (27.3 per cent of India’s reserves), iron ore (26 per cent of India’s reserves), copper ore (18.5 per cent of India’s reserves), uranium, mica, bauxite, granite, limestone, silver, graphite, magnetite and dolomite. Since Jharkhand has around 40 per cent of the country's mineral wealth, its extensive mineral resources make mining, metals and related sectors especially lucrative for investments. Jharkhand is the only state in India to produce coking coal, uranium and pyrite. The state is also a leading producer of coal, mica, kyanite and copper. Jharkhand is the largest producer of tussar (a non-mulberry silk) in India, with 70.27 per cent share in the total output.
During 2016-17, Jharkhand produced 19.36 million tonnes of iron ore. Jharkhand accounts for 20-25 per cent of the total steel produced in the country. During 2016-17, the state produced 15.723 million tonnes of steel. The government targets to increase steel production to 25 million tonnes by 2017-18.
Between 2011-12 and 2016-17, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 10.94 per cent to US$ 39.35 billion whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 11.26 per cent to US$ 36.34 billion.
The following are some of the major initiatives taken by the government to promote Jharkhand as an investment destination:
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