Hemant Soren unveils draft EV policy in Delhi

Jharkhand chief minister Hemant Soren—on his two-day visit to the national capital—met with India’s largest automakers, including Tata Group, Hyundai Motors, Honda, and Maruti Suzuki, in a roundtable conference. The agenda of the meeting was to seek feedback from prospective investors for its draft Jharkhand Electric Vehicle Policy 2021. Opportunities available in the sector at the already operationalised Adityapur Auto-Cluster and Adityapur Electronic Manufacturing cluster in the state were also tabled at the meeting.

“If we look towards the future then I believe Electric Vehicles are the future vehicles where we can do as much as we want'', said Soren in his address to the automobile manufacturers. During the meeting, Pooja Singhal, secretary, department of industries, government of Jharkhand, gave a presentation to the auto-makers—which showed the incentives the state government is going to provide to electric-vehicle manufacturers who wish to set up shop in the state. It also unveiled the government’s proposed plan to establish a dedicated EV cluster in the state.

“We are going to provide 100% exemption in stamp duty and registration fee to the companies. Also, companies who promise to invest in the electric vehicle sector within the first two years since the launch of EV policy will be provided land at a 50% subsidy by JIADA,” said Singhal in the meeting. “100% incentive for MSMEs on GST for seven years, whereas nine and 13 years for large and mega-scale industries respectively. Additionally, we are proposing 100% exemption from vehicle registration fees and 100% exemption from road tax," she added.

In a separate one-on-one B2G meeting post the roundtable meeting, the Dalmia cement group committed to invest ₹500 crore in the state along with others in multiple sectors such as automobiles and ESDM. “Our state has immense potential and is full of opportunities in multiple sectors and is not limited to mines and mineral-based industries,” said Soren.

The chief minister also announced the launch of Jharkhand Industrial and Investment Promotion Policy 2021, wherein the state government is going to announce many fiscal incentives for the investors. “Adityapur Electronic Manufacturing cluster—eastern India’s largest ESDM facility—has been operationalised and we welcome all the investors to come and be a part of this facility,” he added.

The meetings were part of a two-day Investors’ Meet—aimed to showcase the Jharkhand Industrial Investment Promotion Policy 2021 to prospective industrial investors.