Ranchi: The Jharkhand government plans to relaunch its Textile, Apparel and Footwear Policy and Industrial Investment Promotion Policy to attract investment and create jobs. The new policies aim to bring ₹1 lakh crore investment and generate more than 25,000 employment opportunities.
The Industries Department has already released draft policies and invited stakeholder suggestions. The final versions are expected to be completed within the next fortnight.
Incentives for Industries
The proposed industrial policy offers investment-linked subsidies to encourage both MSMEs and larger businesses. MSMEs could receive 20% of fixed capital investment, up to ₹15 crore, while non-MSME units may get 25% subsidy, up to ₹30 crore.
SC, ST, women and differently-abled entrepreneurs will receive an additional 5% benefit.
The textile policy proposes a 20% subsidy on fixed capital investment, up to ₹50 crore. Footwear and technical textile projects can receive an additional 5% benefit, while eligible SC/ST, women and differently-abled entrepreneurs from Jharkhand can get another 5%.
Tax and Power Benefits
The draft also proposes 100% SGST reimbursement for seven years, followed by 40% reimbursement for another three years.
Industries could receive 50% electricity tariff reimbursement for five years, 100% electricity tax reimbursement for five years and full reimbursement of stamp duty and registration charges.
Focus on Jobs and Backward Regions
Employment is another major component of the policy. Proposed wage support includes ₹5,000 per month for male employees and ₹6,000 for female employees, with additional support for SC/ST and differently-abled workers and employees in backward Zone-3 districts.
Training assistance of up to ₹13,000 per trainee has also been proposed.
The government plans special industrial development measures for Santhal Pargana, along with a three-zone classification of districts to encourage investment in less-developed areas.
The policies will also be aligned with central initiatives such as PM MITRA, PLI, SAMARTH and the National Technical Textiles Mission.
If implemented, the proposed measures could strengthen Jharkhand’s manufacturing base, attract fresh private investment and expand employment opportunities, particularly in textile and other labour-intensive industries.
Read Also: Jharkhand: Ranchi Echoes With ‘Jai Shri Krishna’ as CM Hemant Soren Launches Dahi Handi Competition
