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Time of India
2 days ago
- Business
- Time of India
Godda drives J'khand export as state betters nat'l ranking
Ranchi: In a significant leap, Jharkhand has enhanced its export performance by improving its national ranking to 17 in the 2024-25 financial year compared to the 21st rank during the previous fiscal year, the latest data from the Federation of Indian Export Organisations (FIEO) said. Total exports from Jharkhand during the 2024-25 financial year remained at USD 1.90 billion out of the country's total exports worth USD 437.42 billion. In 2020-21, the state's export value remained at USD 1.62 billion. The primary driving force for the rise in the state's export worth came from the power sector, as among all districts, Godda's contribution comprised 42.77%, the report said. Notably, Godda is home to the Adani power plant. The power plant exported electricity worth approximately Rs 6,756 crore to Bangladesh in 2024-25, the company said in a statement on Monday. "This success has now positioned Godda as the top exporting district in Jharkhand, contributing nearly 43% of the state's total exports," the statement added. Ranchi's contribution stood at 15%. The Adani plant remains the largest private sector investment in the state since its formation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Owning A Villa In Dubai Might Not Be As Costly As You Think Villas in Dubai | Search Ads Undo Commissioned in 2023 at a capital cost of nearly Rs 200 crores, Godda is the country's only transnational power plant, supplying its entire output to neighbouring Bangladesh and generating foreign exchange. Among other contributors to Jharkhand's other export portfolio in 2024-25 are iron and steel products, which accounted for 28%, and auto components at 8%. After Bangladesh, the United States and Nepal are the state's top export destinations, each comprising around 7% of exports. Mexico, the UAE and China are also on the list, contributing between 3% and 5%. Paresh Gattani, the president of the Federation of Jharkhand Commerce and Industries (FJCCI), the state's apex trade body, said that with diverse markets, Jharkhand has immense ability to cater to varied international demands. "All that is needed is proper support. Both FJCCI and the state govt are now already working in this regard. Jharkhand has immense scope for export in the agriculture sector, and this is why recently, we held a conclave in Ranchi to bring buyers and sellers on one platform to share and discuss strategies," Gattani told TOI. Earlier, state agriculture minister Shilpi Neha Tirkey had said the govt has been working on paving the road map for national and international market linkages for farmers. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
5 days ago
- Business
- Time of India
Jharkhand industry grouping demands centre's intervention
Ranchi: The apex industry association of Jharkhand on Friday sought the central government's intervention in safeguarding the interests of businesses and incentive measures for relief in the wake of new tariffs imposed by the US. Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) general secretary Aditya Malhotra said the imposition of a high tax on Indian goods by the Donald Trump administration in the US created an "atmosphere of uncertainty" in global trade. An initial 25% tariff, announced by US President Donald Trump on Indian imports, came into effect on Thursday. In addition, Trump on Wednesday clamped another 25% levies on India, as a penalty, for its purchases of Russian oil, bringing the total duties slapped on the country to 50%. "The announcement of the new tax structure by the US has created an atmosphere of uncertainty in the global business world. Since the US is a major trading partner of India, these taxes can have direct and indirect effects on the industries in Jharkhand," Malhotra told PTI. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program
Mint
5 days ago
- Business
- Mint
Jharkhands apex industry association seeks Centres intervention over US tariff
Ranchi, The apex industry association of Jharkhand on Friday sought the central government's intervention in safeguarding the interests of businesses and incentive measures for relief in the wake of new tariffs imposed by the US. Federation of Jharkhand Chamber of Commerce and Industries general secretary Aditya Malhotra said the imposition of a high tax on Indian goods by the Donald Trump administration in the US created an "atmosphere of uncertainty" in global trade. An initial 25 per cent tariff, announced by US President Donald Trump on Indian imports, came into effect on Thursday. In addition, Trump on Wednesday clamped another 25 per cent levies on India, as a penalty, for its purchases of Russian oil, bringing the total duties slapped on the country to 50 per cent. The additional 25 per cent duty will come into effect after 21 days or August 27. "The announcement of the new tax structure by the US has created an atmosphere of uncertainty in the global business world. Since the US is a major trading partner of India, these taxes can have direct and indirect effects on the industries in Jharkhand," Malhotra told PTI. Exports of steel, mining products, handicrafts and IT services to the US may become expensive, while the cost of machinery and technology coming from there will also increase, the FJCCI general secretary said. Jharkhand houses about 40 per cent of the country's total minerals and has the presence of several industries. Malhotra said if the burden of additional tariff or tax increases on goods or services exported from Jharkhand to the US, the competitiveness of traders would be affected. "Also, the increase in the cost of imported machinery and technical equipment may push up the production cost of local industries. This will reduce the competitiveness of our industries," he said while expressing concerns over the US decisions. Under these circumstances, the FJCCI urges the central government to "safeguard the interests of the state by holding talks with the US and providing relief and incentive measures to the industries", he said. Singhbhum Chamber of Commerce and Industry , a business body in the mineral-rich Kolhan region in Jharkhand, unveiled a poster to protest against the US president's unilateral decision and called for a boycott of American products and promotion of Swadeshi items. The poster was launched on Thursday by SCCI president Vijay Anand Moonka. He said such a decision will have a far-reaching adverse impact at a time when the business landscape of the world was being influenced by a global perspective. This article was generated from an automated news agency feed without modifications to text.
News18
5 days ago
- Business
- News18
Jharkhands apex industry association seeks Centres intervention over US tariff
Ranchi, Aug 8 (PTI) The apex industry association of Jharkhand on Friday sought the central government's intervention in safeguarding the interests of businesses and incentive measures for relief in the wake of new tariffs imposed by the US. Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) general secretary Aditya Malhotra said the imposition of a high tax on Indian goods by the Donald Trump administration in the US created an 'atmosphere of uncertainty" in global trade. An initial 25 per cent tariff, announced by US President Donald Trump on Indian imports, came into effect on Thursday. In addition, Trump on Wednesday clamped another 25 per cent levies on India, as a penalty, for its purchases of Russian oil, bringing the total duties slapped on the country to 50 per cent. The additional 25 per cent duty will come into effect after 21 days or August 27. 'The announcement of the new tax structure by the US has created an atmosphere of uncertainty in the global business world. Since the US is a major trading partner of India, these taxes can have direct and indirect effects on the industries in Jharkhand," Malhotra told PTI. Exports of steel, mining products, handicrafts and IT services to the US may become expensive, while the cost of machinery and technology coming from there will also increase, the FJCCI general secretary said. Jharkhand houses about 40 per cent of the country's total minerals and has the presence of several industries. Malhotra said if the burden of additional tariff or tax increases on goods or services exported from Jharkhand to the US, the competitiveness of traders would be affected. 'Also, the increase in the cost of imported machinery and technical equipment may push up the production cost of local industries. This will reduce the competitiveness of our industries," he said while expressing concerns over the US decisions. Under these circumstances, the FJCCI urges the central government to 'safeguard the interests of the state by holding talks with the US and providing relief and incentive measures to the industries", he said. Singhbhum Chamber of Commerce and Industry (SCCI), a business body in the mineral-rich Kolhan region in Jharkhand, unveiled a poster to protest against the US president's unilateral decision and called for a boycott of American products and promotion of Swadeshi items. The poster was launched on Thursday by SCCI president Vijay Anand Moonka. He said such a decision will have a far-reaching adverse impact at a time when the business landscape of the world was being influenced by a global perspective. PTI NAM BS BDC view comments First Published: August 08, 2025, 17:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
18-05-2025
- Business
- Time of India
FJCCI calls for suspension of trade with Turkiye & Azerbaijan
1 2 Ranchi: In a significant move that reflects growing national sentiments, the Federation of Jharkhand Chamber of Commerce and Industry ( FJCCI ) announced the suspension of trade activities with Turkiye and Azerbaijan . The decision comes in response to the two countries' recent political stances perceived as unfavourable to India, including support for Pakistan after India's counter-terrorism strikes across the Line of Control (LoC). In the aftermath of Ankara and Baku's statements backing Islamabad, Indian sentiment has shifted sharply, with online travel companies advising Indian citizens against visiting Turkiye and Azerbaijan. FJCCI has also scheduled a meeting with traders of different businesses in Jharkhand on Monday to bolster the appeal to the trade suspension. The federation's main focus will be on ceasing booking tours to Turkiye and Azerbaijan, both popular destinations among Indian tourists, including those from Jharkhand. Talking to TOI, FJCCI chairman of export sub-committee Suresh Agarwal said though Jharkhand has no direct export and import link with both countries, some items, including Turkish marble and food items, have been purchased by Indian traders. "A few traders in Jharkhand deal in Turkish marble, imported by other states. However, I have no information on Turkish food items imported to Jharkhand. No item is exported to both countries from Jharkhand. Indian traders in many parts of the country have initiated informal boycotts, causing a noticeable drop in the purchase of Turkish apples and marbles. FJCCI will also follow the steps," Agarwal said. The chairman added that the federation will appeal to the traders in Jharkhand to boycott items imported from Turkiye and Azerbaijan so that the two countries could feel the blow to their economy. "Additionally, the economy of both countries is dependent on tourism, and many from Jharkhand also visit tourist destinations in Turkiye and Azerbaijan. The federation appeals to tour and travel operators in the state to suspend tours to the two countries, ensure security of Indian tourists and also to make the countries incur loss in the tourism sector," Agarwal added.
