Last updated on Jul, 29 2021
Jharkhand is 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. At current prices, Jharkhand’s total GSDP stood at Rs. 3,61,381 crore (US$ 49.48 billion) in 2021-22, a 5% increase over FY20.
Jharkhand is rich in mineral resources such as coal (27.3% of India’s reserves), iron ore (26% of India’s reserves), copper ore (18.5% of India’s reserves), uranium, mica, bauxite, granite, limestone, silver, graphite, magnetite and dolomite. Since Jharkhand has around 40% 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 silk (a non-mulberry silk) in India. Value of mineral production (excluding fuel minerals) during 2018-19 stood at Rs. 2,510.99 crore (US$ 356.22 million).
The state’s coal reserves are estimated at around 83,151 million tonnes. Jharkhand accounts for 20-25% of the total steel produced in the country. In 2018-19, 1,248 thousand tonnes of limestone were produced in Jharkhand with a total value stood at Rs. 42.91 crore (US$ 6.09 million).
The state is the largest producer of tussar silk (a non-mulberry silk) in the country with 76.4% share in the total output. In 2018-19, raw silk production in the state was 2,375 metric tonnes.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative foreign direct investment (FDI) inflows in Jharkhand stood at US$ 792 million in FY21 and were US$ 2.64 billion between October 2019 and March 2021. In 2019, the number of IEM filed were 8 and the amount of investments proposed were Rs. 382 crore (US$ 75.46 million).
Total exports from the state stood at US$ 1,168.01 million in 2019-20. Exports from the state stood at US$ 1,622.31 million in 2020-21.
The following are some of the major initiatives taken by the Government to promote Jharkhand as an investment destination:
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