In order to attract investment into the various sectors of the economy, the Government of Jharkhand has made several policy announcements. These policies have graphed a framework for accelerating the industrial development in the State. They envisage a set of incentives and schemes for the investors. Thus, the Government aims to create the right kind of business climate by removing the road blocks and thereby enhancing the inflow of capital in the State.

The major being, the Industrial Policy, which aims to ensure accelerated completion of infrastructural projects, generate employment, improve productivity, and thus promote balanced development of the State. The policy lays emphasis on the growth of small, tiny and cottage industries. The objectives of the policy are to:-

• Make Jharkhand one of the most preferred destination for investment;



• Optimally utilise agro-climatic, mineral and human resources of the State;



• Promote economic activities to ensure maximum capital investment in the State;



• Increase employment opportunities and improve living standard of the people at large;



• Develop the state of art technology and infrastructure;



• Encourage and involve private sector participation in the process of rapid industrialisation of the State;



• Promote export of such items, in which the State holds advantage vis-a-vis other States;



• Simplify procedures through administrative and legal reforms so as to provide hassle free investment climate;



• Protect and promote rural handicrafts so as to conserve and enrich cultural heritage, traditions and customs of the regions;



• Promote research and development as well as technological upgradation in order to improve production and productivity.
  
  

Another important policy is the "Information Technology (IT) policy ", which has been formulated, keeping in mind the increasing opportunities that IT can unleash over the next decade. This will help in creating immense value, developing talented workforce, and enhancing efficiencies in governance and social service. It also provides guidance to the agencies and institutions involved in using IT for all such purposes. The focus of this policy is to make the State, the most attractive destination for IT investments and thus ensure upliftment of the quality of life of the people. The objectives of the policy are to:-

• Accelerate the drive for setting up a world class info-infrastructure in the State;



• Enhance IT exports of the State;



• Ensure IT for all by 2010 through a rapid spread of IT awareness among the citizens; rural penetration of IT applications; as well as training citizens in the use of tele-banking, tele-medicine, tele-education, electronic commerce, etc;



• Coordinate with the Central Government and private agencies who are involved in putting together the info-infrastructure in the State;



• Promote e-governance and computerize the government departments;



• Promote 'IT Habitats' in the rural hinterland with modern infrastructure;



• Encourage development of IT support services in regional language;
  

Besides, there is a Special Economic Zone (SEZ) Policy, which aims to provide a comprehensive framework for establishment, operation and sustainability of the Special Economic Zone in the State. It has been framed with a view to augment the infrastructural facilities in the State for export production. SEZs are the enclaves which are treated as foreign territory for the purpose of industrial and trade operations, with relaxation in customs duties and a liberal regime of foreign investments. The concept of SEZ is expected to bring large dividends to the State in terms of economic development through generation of new employment opportunities. Thus, SEZs are recognised as engines of growth.

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