The government of Jharkhand is inking as many as 11 Memorandums of Understanding (MoU) with various companies and countries on February 17, inviting businesses to set base in the state, Chief Minister Raghubar Das told, adding that it would create at least 6 lakh new jobs in the state over the next few years.

Jharkhand is hosting its first ever investor’s summit, Momentum Jharkhand, and has shown intent to move away from its traditional industrial base focused mainly on the mining sector.

The state government plans to invite companies engaged in other sectors, and shed an image restricted only to mining, Das said.

Jharkhand has predominantly been a mining state when it comes to industries, with textiles taking another key spot. Das spoke about the government’s Make in India plan, and said he felt promoting mirco, small, and medium businesses was a way to achieve that goal.

The first day of the investors’summit saw committments worth as much as Rs 40,000 crore being made on February 16.

Source: Bloom Berg | Quint