Ranchi, September 9: The Jharkhand government is working on a fresh industrial policy framework aimed at attracting investments of around ₹1 lakh crore and creating more than 25,000 jobs across the state.
The Industries Department has released draft versions of the proposed Industrial Investment Promotion Policy and the Textile, Apparel and Footwear Policy and invited suggestions from stakeholders.
The final policies are expected to be prepared after the feedback process.The proposed industrial policy provides investment-linked incentives for eligible enterprises. MSMEs could receive support equivalent to 20 per cent of fixed capital investment, subject to a ceiling of ₹15 crore, while larger non-MSME units may be eligible for 25 per cent support, capped at ₹30 crore.
Additional incentives of five per cent have been proposed for entrepreneurs belonging to Scheduled Castes, Scheduled Tribes, women and persons with disabilities.The textile, apparel and footwear sector has been given a separate focus, with a proposed capital investment subsidy of 20 per cent, up to ₹50 crore.
Additional incentives have also been proposed for footwear and technical-textile projects.The draft package includes tax and other operational incentives, including reimbursement of eligible SGST for a specified period, electricity-related benefits and reimbursement of stamp duty and registration charges.Employment generation is another major component of the proposed framework.
Wage assistance of up to ₹5,000 per month for male employees and ₹6,000 for female employees has been proposed, along with additional support for employment of SC/ST workers and persons with disabilities.
Industries generating employment in relatively backward Zone-3 districts could also receive additional incentives under the proposed policy.
The government has further proposed financial assistance of up to ₹13,000 per trainee for industrial skill development. Special measures have also been outlined to encourage industrial activity in the Santhal Pargana region.
The proposed policies are expected to complement central initiatives such as PM MITRA, the Production Linked Incentive scheme, SAMARTH and the National Technical Textiles Mission.
The government expects the new framework to strengthen Jharkhand’s manufacturing ecosystem, attract fresh investment, promote entrepreneurship and expand employment opportunities.
Since the proposals are currently in the draft stage, the incentives and provisions may undergo changes before the final policies are officially notified.
