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The Jharkhand government on Saturday signed memorandums of understanding (MoUs) with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Flipkart Internet Pvt Ltd at the stakeholders' meet on the draft Jharkhand Industrial and Investment Promotion Policy 2021 in New Delhi.

In coordination with the Department of Industries, Flipkart and its group companies will work towards infrastructure and industrial development, including social development. The MoU will help create a conducive environment for cooperation and investment for the unit.

FICCI will review its regional expertise, industry liaison, global networking, and industrial and various regional policies to help the state government work towards promoting cooperation, ease of doing business and increasing private sector participation.

It will also help the state government in necessary technical advice and investment related to key priority areas such as textiles, food processing, pharmaceuticals, healthcare, micro, medium and small scale industries, and tourism.

In his keynote address, Jharkhand Chief Minister Hemant Soren highlighted the importance of such events in providing valuable opportunities for interaction with businesses and for the exchange of perspectives between the government and the industry.

Explaining the urgency for a new policy, Soren said, "Covid-19 has created a crisis in industrial output and has adversely affected the value chains. The more I travel to the interior areas and the more I interact with the people there, I get the feeling that the industrial sector needs some help to overcome the strain caused by an extended and unplanned lockdown."

Soren also noted that a sustained effort spread over a few years is required so that micro and small units can be pulled out of their marginal existence, while mega and large units are propelled onto the global platform.

The government of Jharkhand also signed an MoU with FICCI on the sidelines of the event.

Textile being a high priority sector for the government, a roundtable was also organised with the Apparel Export Promotion Council and the Garment Exporters and Manufacturers Association.

Besides Hemant Soren, the meet was attended Sukhdev Singh, Chief Secretary of Jharkhand; Rajeev Arun Ekka, Principal Secretary to CM; Pooja Singhal, Secretary, Industries; and Jitender Kumar Singh, Director, Industries, among others.