Hemant Soren says Shanti Act opens new era for mineral-rich Jharkhand, ETEnergyworld

Davos: Jharkhand chief minister Hemant Soren said the policy space created after the passage of the Shanti Act has opened a new chapter for the mineral-rich state in nuclear energy and downstream processing.

Speaking at the ET House in Davos on Tuesday, Soren said Jharkhand is closely evaluating opportunities arising from the new legislation on nuclear energy generation at a time when India is recalibrating its critical minerals and energy strategy.

“The central government is already mining uranium in Jharkhand. With the Shanti Act in place, we are assessing the new possibilities this opens up for the state,” he said, adding that the government expects “positive developments in the near term.”

Jharkhand, which holds one of the country’s richest mineral belts, is seeking to move beyond an extraction-led development model. Soren said while the state’s economic strategy over the last 25 years was shaped by its mineral endowment, changing demographics and aspirations now demand a broader, more innovative growth path.

“A new generation has come up, and their expectations are different. There is a clear call to go beyond mines and minerals and look at new, future-facing opportunities,” the chief minister said, underscoring the state’s push towards value addition, processing and diversified industry.

Soren said investor interest in Jharkhand is widening, with both domestic and overseas players exploring opportunities in the state. “Earlier, our engagement was largely with domestic investors. Now, we are actively looking at foreign investments as well,” he said, describing his Davos visit as part of a deliberate effort to position Jharkhand in global investment conversations.

Highlighting the role of micro, small and medium enterprises, Soren said MSMEs offer faster turnaround times and quicker employment generation compared to large projects. “Small and medium industries are agile. They move fast, start operations quickly and generate jobs almost immediately,” he said, adding that the state is more comfortable enabling such enterprises.

Beyond industry, the chief minister said Jharkhand is working to leverage its natural and cultural assets. The state plans to develop a tourism circuit linking major religious destinations including Deoghar, while also exploring partnerships in sports infrastructure.

(Jharkhand is a state partner of ET House in Davos)

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