Ratan Tata calls upon fellow industrialists to invest in Jharkhand

He said India will not be able to grow if it focuses only on traditional spots, must extend base

Recalling his initial days in Jamshedpur, Tata Group patriarch Ratan Tata Thursday said Jharkhand has great potential and called upon domestic and global corporates to seize the immense investment opportunity.

"Under the prime minister and his government, India is on the threshold of projecting itself as a new India," said Tata, who started his career at Tata Steel in Jamshedpur.

Speaking at the Momentum Jharkhand Global Investors' Summit 2017, he said India has great opportunities.

However, the country will not be able to grow if it focuses only on traditional spots which have been industrialised and therefore it needs to widen base and extend industrialisation to other geographies as well, he said.

"Jharkhand is one such place. Its richness in mineral wealth, its natural beauty and the excitement of developing it are immense. I think all of us, both in India and outside India, need to seize this opportunity in places like Jharkhand...," Tata said.

Highlighting benefits of investing in Jharkhand, the senior industrialist said the state government is "keen to progress" and see itself standing among states that are enjoying the excitement of the new India.

"I urge my contemporaries, both in India and beyond India, to embrace the opportunity at this time," he said.