Jharkhand to form NRI cell to boost investments in state

The State government is understood to have decided over the constitution of the NRI cell in order to get more investments in the state in different sectors. This cell will deal with NRIs exclusively that will work in their interest.The framework for the constitution of the NRI cell is getting final touches and is likely to be placed in next cabinet. The constitution of the cell is the brainchild of the Chief Minister Arjun Munda, who has returned from the NRI meet recently held at Jaipur. He has already invited NRIs to invest in Jharkhand.
It is said that they (NRIs) have shown interest in making investments provided the government help them to establish their shops. Under the given circumstances naxal threat coupled with poor law and order has kept the investors at bay. “We are not willing to take the risk of making investments where the projects are not coming or commissioned on time,” stated a high level corporate official.
According to him, the time-period of investment and subsequent establishment of project/shop does not synchronize thereby escalating the cost of production. Moreover the non-supportive attitude of the bureaucrats and politicians also heckle the timely set-up of the shop.
It may be noted that this is not the first time the Chief Minister has made tall promises to the investors vis-à-vis NRIs. Earlier in 2003-2005, Arjun Munda in the capacity of chief minister has signed more than 64 MoUs but as things stand very less number of projects i.e hardly 10-12 took off. With the return of the chief minister after the conference of NRI, the government is apparently looking for adding some more points from NRI perspective. This is likely to consume more time before the final draft is ready. The wait has left the industry sector restless. The draft is prepared by the industry department pending with the Chief Minister, as some points need discussion, the sources in the industry department said.

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