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Jharkhand Urban Development Minister C P Singh Rolls Out Red Carpet For Investors

Jharkhand Urban Development Minister Chandreshwar Prasad Singh has termed the Global Investors' Summit as historic as it was for the first time any government had organised such a medium to initiate development of the state

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Jharkhand Urban Development Minister Chandreshwar Prasad Singh on Thursday (February 16) termed the Global Investors' Summit as historic as it was for the first time any government had organised such a medium to initiate development of the state.

“Jharkhand has a long history and legacy of urban planning, beginning with Jamshedpur. But we lost track at some point and cities became chaotic. Even today, however, Jamshedpur and Bokaro stand out as great examples of model cities. The concept of a Smart Ranchi is very strategic and will help the people of Jharkhand utilise available resources to the maximum. Driven by the dream of taking Jharkhand’s Urban Development Sector to new heights, we welcome investors with open arms,” Singh said while addressing a seminar -- Urban Development and Smart City: Investment Opportunity in Jharkhand.

The people of the state desired to develop with the support of both the Centre and the state, an official release said quoting him.

He said Jharkhand was ready for investment and urged investors to see it as a potential (for investments) and they would not have any problems as there was transparency and single window system.

In his address to the investors, Union Urban Development Secretary Rajiv Gauba said Jharkhand was changing and along with its human resources and natural resources, transparent policy of the government was also there.

He said there was immense investment potential in infrastructure, medical, education and culture, and compared to other states, Jharkhand is backward in urbanisation and to increase it, the state government has initiated the Summit.

Elaborating on the steps taken for all-round development in urban areas, Arun Kumar Singh, Principal Secretary, Urban Development and Housing Department, said: “This Summit is a huge opportunity for the people of Jharkhand because 65 per cent of the state’s GDP is borne by 24.1 per cent of the urban population. Therefore, urbanisation should involve a wider approach, making it sustainable by involving employment opportunities for locals. Jharkhand has mineral and human resources and we need to put these to good use. Public Private Partnerships are a great way to garner investment and we are looking forward to bridge the supply gap of funds for such projects.”

Shriram Kalyanraman, MD & CEO, National Housing Bank, said:: “For a fast-growing state like Jharkhand, the cities need accommodation that is hygienic and affordable for the migrating working class. The Government needs to work in partnership with private agencies to ensure this migration is controlled and streamlined so that Ranchi could become a Smart City. A Smart City is always well planned and has a model, and Ranchi has all the potential to become that.”

Amit Bhatt, Strategy Head, Integrated Urban Transport, World Resources Institute, India, stressed on the need for proper regulation. “With this Summit, Jharkhand has taken a bold plunge and portrayed itself as a service provider and premier investment destination. As the State moves towards urbanization on a larger scale, there is need for regulation at all levels. Jharkhand holds great opportunities and exploration through foreign and Indian investments is crucial," he said.

On his company’s tie-up with the State Government in the Smart City project, Shrinivas Kowiligi of Ernst and Young LLP, said: “Ranchi is the ideal location for a Smart City. From scenic beauty to availability of land to human resources, the city has it all. Joining hands with the Government of Jharkhand to build the Smart City is definitely a huge project for Ernst and Young LLP. Jharkhand’s policies and reforms have made it an investor’s dream destination and we hope our association with the State goes a long way.”