Ranchi, May 5: Jharkhand has received seven investment proposals from foreign companies based in Spain and Sweden following a high-level state government delegation visit led by Chief Minister Hemant Soren, senior officials said Monday.
The visit, aimed at increasing foreign investment and improving Jharkhand’s brand visibility abroad, marked the state’s first official overseas delegation in nearly a decade.
“This trip will mark Jharkhand’s presence abroad and improve Jharkhand’s brand value,” said Arwa Rajkamal, the state’s Industry Secretary, during a press briefing at the Information Bhawan in Ranchi. “Seven investment proposals have been received from Spain and Sweden in a week.”
As part of efforts to streamline foreign investment, Chief Minister Soren announced the establishment of a dedicated European investment desk to support companies interested in setting up operations in Jharkhand.
Among the notable investment interests, Tesla Group S of Spain expressed its intent to invest €150 million in a battery storage production facility in Jharkhand, modeled after its Giga factory in Romania. Another major proposal involves the creation of a mega convention and trade exhibition center in Ranchi, with an estimated investment of €120–170 million.
The delegation also visited Volvo’s truck manufacturing plant in Gothenburg, Sweden, where the Chief Minister invited the company to establish a mega manufacturing unit in Jharkhand to meet the rising demand for heavy trucks in mining operations.
Investor meets were held in both countries. In Barcelona, the delegation met with Indian expatriates and global business leaders at the Fira di Barcelona International Convention Center, one of Europe’s largest exhibition venues. Topics of discussion included sports branding, entrepreneurship partnerships with IESE Business School, and environmental sustainability.
In Gothenburg, the team showcased Jharkhand’s potential in clean energy, electric vehicles, mineral processing, and manufacturing to over 50 global investors.
“Visibility is necessary to invite investors of any country to invest in Jharkhand,” said Rajkamal, stressing that the visit was an important step toward positioning the mineral-rich eastern state as a competitive global investment destination.
