Jharkhand has been carved out of Bihar as the 28th State of the Indian Union. It covers a total land area of approximately 79,714 sq km. It is bounded by West Bengal in the east; Uttar Pradesh and Chhattisgarh in the west; Bihar in the north and Odisha in the south. Ranchi, the capital of Jharkhand, is located at a height of 2100 ft above sea level in the heart of the Chotanagpur plateau.
The State has the richest mineral base in the country and is widely recognized as the region of immense potential. As large as 40% of the total mineral resources of the country are deposited in the State, which include mica, bauxite, granite, gold, silver, graphite, magnetite, dolomite, fireclay, quartz, feldspar, iron, copper, etc. It is the sole producer of coking coal and uranium. It is also blessed with forests and woodlands, water and energy reserves, as well as fertile land, all of which can place it amongst the most developed States of the country.
The various opportunities for investing in the State lay in its advantageous position:-
- Responsive administrative set up;
- Abundance of minerals;
- Existing industrial base;
- Skilled and hardworking workforce;
- Numerous supporting small scale industries;
- R&D facilities;
- Reputed technical institutions;
- Large consumer market; etc.
Given all this, the Government has been making all efforts for maximizing the inflow of capital investment into the State. It has framed several policies and incentives for providing a conducive environment to the investors. The policies intend to give a boost to those industries, which are capable of adding value to the mineral base, forest and agricultural produce as well as to other resources available in the State. Thus, the Government aims to fully explore the hidden potential of the State so as to generate employment, improve the quality of life of the people and thus accelerate overall economic development.