Project Report on Ideal Entrepreneurial Ventures for Jharkhand

Life of any human being is full of interaction. No one is completely self sufficient by himself/herself. In our daily life we go ahead by acquiring something from each other. Whatever we do and whatever we achieve during the course of our limited life is just not by or own efforts but there is always some amount of effort contributed by other people associated with it. Whenever someone is doing some serious and important work where a lot of guidance from many people concerned is needed, one co-operation during the project work is left along lasting impression in my mind and while giving the final shape to my project report; I can’t forget acknowledging them in words. We would like to extend our sincere thanks to Professor Prabal K Sen who gave us an opportunity to explore different horizons of this subject.

INTRODUCTION:

Jharkhand is a state in eastern India. It was carved out of the southern part of Bihar state on 15th of November, 2000. Jharkhand is bordered by the states of Bihar to the north, Uttar Pradesh and Chhattisgarh to the west, Orissa to the south, and West Bengal to the east. The industrial city of Ranchi is its capital. The other major cities, all highly industrialised cities of eastern India, are Jamshedpur, Bokaro, and Dhanbad. Jharkhand is also popularly known as ‘Vananchal’ means a land mass covered with forests. Jharkhand is known for its mineral wealth and forestry products together with excellent human resources. Forest preserves support populations of tigers and Indian elephants. Most of the state lies on the Chota Nagpur Plateau, which is the source of the Koel, Damodar, Brahmani, Kharkai, and Subarnarekha rivers, whose upper watersheds lie within Jharkhand. Jharkhand has a rich variety of flora and fauna. The National Parks and the Zoological Gardens located in the state of Jharkhand present a panorama of this variety.

Jharkhand — At a Glance|
The 28th state of the Indian Union was brought into existence by the Bihar reorganization Act on November 15,2000- the birth anniversary of the legendary Bhagwan Birsa Munda. Jharkhand is famous for its rich mineral resources like Uranium, Mica, Bauxite, Granite, Gold, Silver, Graphite, Magnetite, Dolomite, Fireclay, Quartz, Fieldspar, Coal (32% of India), Iron, Copper (25%of India) etc. Forests and woodlands occupy more than 29% of the state which is amongst the highest in India. FACT SHEET

Population| 2,69,09,428|
Male Population| 1,38,61,277|
Female Population| 1,30,48,151|
Per Capita Income| Rs.4161.00|
Density of Population| 338 persons/Sq.KM|
No. of Districts| 24|
No. of Sub divisions| 35|
No. of Blocks| 212|
No. of Villages| 32620|
No. of Villages Electrified| 14667 (45 % of total)|
No. of Villages connected by Road| 8484|

ADVANTAGE JHARKHAND

Endowed with extensive mineral reserves

Jharkhand has around 40 per cent of the country’s mineral wealth. The state is one of the largest producers of coal, mica and copper in India. Because of its large mineral reserves, mining and mineral extraction is the major industry in the state.

Policy and fiscal incentives

Jharkhand offers a wide range of fiscal and policy incentives tothe industries, under the Industrial Policy, 2001. The state also has policies
for IT and SEZ offering sector-specific incentives

High Economic Growth

Jharkhand’s economy has grown at about 12 per cent between 2000-01 and 2008-09. The state provides opportunities in sectors such as mining and metal, power, infrastructure, manufacturing and food processing to sustain growth.

Location advantage

The state’s industries enjoy a unique location-specific advantage as it is close to the vast market of Eastern India; it is closer to the ports of Kolkata, Haldia and Paradip and has easy access to raw materials

BUSINESS OPPORTUNITIES
Jharkhand

State has various investment opportunities

The various opportunities for investing in the State lay in its advantageous position:-
* Responsive administrative set up;
* Abundance of minerals;
* Existing industrial base;
* Skilled and hardworking workforce;
* Numerous supporting small scale industries;
* R&D facilities;
* Reputed technical institutions;
* Large consumer market; etc.

Given all this, the Government has been making all efforts for maximizing the inflow of capital investment into the State. It has framed several policies and incentives for providing a conducive environment to the investors. The policies intend to give a boost to those industries, which are capable of adding value to the mineral base, forest and agricultural produce as well as to other resources available in the State. Thus, the Government aims to fully explore the hidden potential of the State so as to generate employment, improve the quality of life of the people and thus accelerate overall economic development.

Investment Opportunities

The resource rich State of Jharkhand has an immense potential for investment due to its large mineral deposits, skilled labour force, and responsive administrative set up. It has a well-established industrial base comprising of reputed business houses. The State along with the adjoining areas of West Bengal, Orissa, Bihar and Chhattisgarh, provides a large consumer market. Its renowned technical institutions are a constant source of qualified and efficient man-power base. All this shows that there exist innumerable investment opportunities in several sectors of the State economy.

Auto and White goods

This sector has several opportunities for investment due to the availability of raw materials at close proximity and a large consumer market for the product both in and around the State.

These advantages include:-
* Presence of large steel plants as a source of easy freight; * World class industries (in and around the State) create an excellent vendor base to support the sector; * Several industries like Usha Martin, Timken, Cummins, Tinplate, Indal, etc. produce a wide range of engineering products; * Various industrial units involved in activities like mining and coking coal; * A good combined market for the sector is provided by Jharkhand along with Bihar, Orissa, West Bengal and Chhattisgarhate. It has framed several policies and incentives for providing a conducive environment to the investors. The policies intend to give a boost to those industries, which are capable of adding value to the mineral base, forest and agricultural produce as well as to other resources available in the State. Thus, the Government aims to fully explore the hidden potential of the State so as to generate employment, improve the quality of life of the people and thus accelerate overall economic development. * Demand for white goods like refrigerators, washing machines, air conditioners,etc is high in the State and is rapidly increasing, etc

Mineral based industry

The State being a rich reserve of mineral resources, it has an immense potential for the growth of mining and mineral based industries. The important minerals available in the State are coal, iron ore, limestone, copper ore, bauxite, pyrite, china clay, kyanite, fine clay, dolomite, graphite, bentonite, soap stone, quartz sand and silica sand. Given this, there are numerable opportunities for the investors, in the following areas:- * Iron ore (export potential);

* Steel production;
* Sponge iron plant;
* Cement plant;
* Graphite electrodes and graphite powder;
* Granite (export Potential);
* Chemicals and fertilizers;
* Bleaching powder, calcium carbide and lime related chemicals; * Ground mica, mica bricks and electrical appliances; etc

The State Government has been making all efforts to attract investment into this industry. These include, simplification of the procedures with respect to grant of mining leases; provision of certain relief to make mining activities easier; suitable steps for adoption of state of art technology in mining; etc

Power

The availability of coal in abundance makes Jharkhand an ideal state for setting up thermal power plants. The Government of Jharkhand has taken several initiatives for the development of this industry. It has signed Memorandum of Understanding with the Government of India as a token of its commitment to the reforms in the power sector. Rural electrification has been accorded top priority. The work on renovation and modernization of existing power generating stations has already commenced. The State is attracting private investment in the industry for its further growth. There is immense potential for setting up Thermal, Hydel, Geo-thermal, Atomic and Methane and Gas based power plants in Jharkhand. A number of mini and micro hydel power plants can also be set up at various identified places, each of which will provide 1 MW to 10 MW power to the adjacent areas. The government will accord industrial status to these plants. Private sector will also be encouraged to exploit and develop non-conventional sources of energy for power generation such as geo-thermal energy, biomass based power, solar power, wind power etc. Industrial status will also be accorded to these units by the State Government

Tourism

The Jharkhand Government has accorded ‘industry status’ to the tourism sector and has initiated various steps to attract investment into it. For the purpose, it has been offering several incentives for the provision of certain tourist facilities by the private investors. This includes: – hotels & motels; yatrika & yatriniwas; tourist resorts; camps & facilities for adventure tourism; aerial ropeway; amusement parks; etc.

Information Technology (IT)

The Government considers IT as an agent capable of transforming the State into knowledge based society. It has resolved to make Jharkhand an IT powerhouse and a front runner in the IT revolution. In order to fulfil these objectives, it has formulated an IT policy. The underlying vision of the policy is ‘to ensure overall socio-economic development, sustained growth, transparency in government decisions, and enhanced service delivery to the people through an effective use of IT”

Some of the ideal entrepreneurship ventures for Jharkhand

Bullock Cart
It’s a solar operated cart that is air conditioned from inside which provides relief to both the farmers as well as the tourists, Solar energy is used for running of the fan and light. This cart solves the problem of storage as well. There is a huge shortage of storage facilities in India, with this cart food can be stored for longer durations and can be sold at a later stage. This concept should 1st be implemented at the rural area then can be extended to the urban areas.

Vermiculture
Vermiculture can be the perfect answer for an indoor herb gardener. Vermiculture is a way of composting using earthworms to speed up the process. It is easily done inside the home as it takes only a small amount of room and creates no odour. In fact, if you are an indoor-only herb gardener, you will benefit from having just the right amount of compost to add to your smaller sized garden area.

Sericulture
The trend of sericulture development in India clearly depicts a quantum jump in mulberry silk production during the last three decades. Renditta (Quantity of Silk Cocoons required to produce 1 Kg of raw silk) in 1960 was as high as 16-17, which came down to 6-7 in 2010. This was possible mainly because of advancement and improvement in mulberry genotypes and cultivation practices.

Bio dynamic farming
Biodynamic agriculture is a method of organic farming that emphasizes the holistic development and interrelationships of the soil, plants and animals as a self-sustaining system. One of the first modern ecological farming systems,it emphasizes a sustainable approach to agriculture.

Cashew nut farming
National Horticulture Board and Coconut Development Board have identified Jharkhand as one of the most promising states for the cultivation of coconut palm and cashew nut. Plantations of these crops could immediately be extended to an area of more than 1,800 hectares. Output of both the products in Jharkhand could be much in excess of 15,000 metric tons.

Fly ash brick
Fly ash brick (FAB) is a building material, specifically masonry units, containing class C fly ash and water. Compressed at 4,000 psi and cured for 24 hours in a 150 °F (66 °C) steam bath, then toughened with an air entrainment agent, the bricks last for more than 100 freeze-thaw cycles. Owing to the high concentration of calcium oxide in class C fly ash, the brick is described as “self-cementing”. The manufacturing method saves energy, reduces mercury pollution, and costs 20% less than traditional clay brick manufacturing

Handicrafts
The handicrafts of Jharkhand, made by its tribal population, can present a galore of mementos to the tourists to this state. The state has a rich tradition of art and culture. The artisans or rather artists of Jharkhand have an expert hand for preparing delicate, beautiful and elegant handicrafts. However, the well-known Paitkar paintings and the stone carvings have become almost extinct in Jharkhand due to the lack of state patronage, and inadequate conservation and promotion of these unique skills.

Pyrolysis
Pyrolysis is a thermochemical decomposition of organic material at elevated temperatures without the participation of oxygen. It involves the simultaneous change of chemical composition and physical phase, and is irreversible. The word is coined from the Greek-derived elements pyro “fire” and lysis “separating”.

Theme based restaurant
Jharkhand cans host to a number of theme-based restaurants, from simple dhaba themes to exotic rainforest themes and a lot more. Irrespective of the cuisine they serve, these theme-restaurants are always an attraction to kids and adults alike. Dining out means much more than just having your food in some restaurant these days, it is an experience in itself and everybody wants to go back home with a satisfied smile

Bio toilets
It is an innovative technology for disposal of human waste in eco-friendly manner. These Bio toilets can function at any atmospheric temp between -55 to 60 degree C. The bacterial consortium degrades night soil at temp as low as -55 degree C and produces colourless, odourless and inflammable bio gas containing 50 – 70% methane.

Educational institutes
The data of Jharkhand Education Project Council for the year 2007-2008 narrates that there are 143143 out of school children and drop out is 76397 for the age group from 6-14 years. The reason behind were lack of interest, lack of access, household work , migration, earning compulsion, socio cultural reason, non-flexibility to school timing and system. Above all the reason the highest rates goes to household work and earning compulsion that means 34675 doing household work and 31913 children were earning due to compulsion. This simply gives the analysis that how deep rooted poverty which barred the children to go to school. One can just imagine the huge drop out of children in order to work for its own family.

Horticulture
Horticulture is one of the important sub-sectors of agriculture, having ample scope for expansion in Jharkhand. The total area occupied by various plantation and horticulture (P&H) crop in the State is about 2.57 lakh hectares with an estimated total production of 37.85 lakh tonnes. A major thrust is being given for bringing additional areas under various plantation and horticulture crops and enhancing the productivity of the yielding crops. Besides supply of protein-rich food, the fisheries sector also has vast potential to provide employment to the people in the rural areas.

Radio taxi
Radio taxi is a taxi that operates through radio signals. When a customer calls up the helpline number of the radio taxi, the operator communicates with chauffeur (driver) via radio signals to locate the nearest taxi. The taxi reaches the customer as required at the specific place and time. Radio taxis are one of the most popular means of transport in New Delhi.

Conclusions and recommendation:

Jharkhand is formally carved out from Bihar yet it remains one of the lading mineral producing states in Indian, a beautiful land with picturitic valleys, dense lush green forests has a large deposit of mineral. The new state is endowed with rich mineral resources and occupies unique position in mineral production and mineral based industries. As regards the investment climate is concerned there is plenty of opportunity available for the setting up of plant and industries, of sectors such as petroleum, power generation, nuclear energy, mining etc. The discovery of methane gas, found in district Bokaro one of the prominent sectors due to the scope of real estate industries such as Sahara city. If the mining and other industrial activities are followed in a well a integrated planned, environmentally benign way in a time manner then I will lay to economically beneficial in sustainable way .planned development is essentially not only for fulfilling the inspiration of the people for the sustainable source of livelihood but also for the protecting the resource base and enhancing the environmental quality in region.

Limitation of the study:
* Some of the data are outdated which do not provide us with the Clare indication of the current scenario * The study is limited of the scope of data publicity available. * In depth study of the project was not possible due to short of time * There was difficulty in gathering information due to communication problem

METHODOLOGY:

Method of collection of data:
Secondary sources
* Concern data
* Website data
* Annual data
* Respective data
* Business magazine and journal
* Internet

SOURCE OF DATA:

Websites
www.google.com
www.wikipedia.com
www.businessgov.in
www.ibef.com