The Jharkhand government’s efforts to attract foreign direct investment (FDI) may not have yielded immediate results, but the state’s recent international outreach signals the beginning of a serious, strategic engagement with the global investment landscape.

A high-level delegation led by Chief Minister Hemant Soren returned this week from a nine-day visit to Spain and Sweden — marking Jharkhand’s first international investment mission since 2016–17. The visit, held from April 19 to 27, was aimed at fostering partnerships in green technology, mining, electric vehicles, food processing, women-led entrepreneurship, and sustainable infrastructure. It reflected a renewed intent to align Jharkhand’s development model with global sustainability goals and economic diplomacy.

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The state government has aimed to reposition Jharkhand from merely a supplier of raw materials to a progressive hub for clean manufacturing, sustainable infrastructure, and technological innovation. The visit placed particular emphasis on attracting investment to key industrial zones such as Adityapur, Bokaro, and Santhal Pargana.

The delegation’s composition and itinerary were duly approved by the State Cabinet and received the necessary political clearance from the Ministry of External Affairs ahead of the tour.

In Spain, the delegation focused on learning from urban innovation and explored collaborative possibilities in sports infrastructure, mining reclamation, and trade connectivity.

Meetings with officials at FC Barcelona and RCD Espanyol resulted in proposals for MoUs on coach training and sports infrastructure development in Jharkhand. A business meet hosted by the Indian Consulate saw expressions of interest in clean energy, MedTech, and startups, with the Czech-headquartered Tesla Group proposing a Euros150 million battery storage project. A significant milestone was the Letter of Intent received from Fira de Barcelona to establish a Euros 120–170 million convention centre in Ranchi, which could position the state as a major MICE (Meetings, Incentives, Conferences and Exhibitions) destination in eastern India.

In Sweden, the delegation held discussions with leading firms in EV manufacturing, green steel, and smart mining, including Volvo, Scania, and SSAB. These interactions are expected to inform refinements to the state’s EV Policy 2022 and broader industrial planning. Swedish companies also expressed interest in collaborating on women’s healthcare, gender equity, and entrepreneurial ecosystems for women-led MSMEs.

Jharkhand currently ranks 8th in India in cumulative FDI received between 2019 and 2024, accounting for only 0.98 per cent of national FDI despite contributing approximately 2.5 per cent to India’s GDP. This gap underlines the significance of the recent outreach, which seeks to alter the state’s investment narrative from a raw-material extraction zone to a destination for future-ready industries.

Though the investment terrain remains difficult, the government’s proactive engagements in Spain and Sweden signal the start of a more focused push to attract long-term, sustainable investments. The task ahead is to translate MoUs, proposals, and diplomatic goodwill into tangible outcomes through policy responsiveness, facilitation, and transparent governance.

Jharkhand’s message to the world may still be in its early stages, but the hammer has finally struck the FDI door.