Business and Economy of Ranchi

Ranchi the capital city of Jharkhand, is growing and expanding at a rapid pace.Increased economic activities and infrastructure development has resulted in extensive urbanization, as a result of which urban and semi-urban areas are expanding. Due to a change in land use policies more areas are being added to the vicinity of the city. After being awarded with the capital status to Ranchi, there has an emerged a need to meet the requirements of the increasing population.

Economy of Ranchi

Easily available manpower, reputed technical, management and educational institutions, good transport and communication facilities and improving power position makes the RIA (Ranchi Industrial Area) region attractive for entrepreneurs. Efforts are being made to generate ample employment, infrastructural and institutional amenities for the benefit of the people. In this age of urbanization, industrialization & modernization one should not forget to preserve and protect the present environment. A sustainable & eco-friendly way of development is this required for Ranchi city.

Trade, Commerce & Business in Ranchi

Ranchi, being the capital of Jharkhand is an important center of trade & commerce in the State. The high literacy rate, hardworking people, stable political environment and availability of basic facilities make a favorable environment for business to flourish in the area. The government is offering lucrative schemes to draw investment to the city of Ranchi. All types of business can be found in Ranchi from small daily need shops, medical stores, ready-made garments to high end branded stores. Many premium brands, fast –food chains & multiplexes have set shop in Ranchi. With the increasing spending power of the consumer many malls & multiplexes are also doing great business in Ranchi.. Ranchi also has a number of Multinational Companies, Public Sector Enterprises, & Private Limited Companies, which provide good employment opportunities. The Ranchi city thus offers ample business opportunity to the new entrepreneurs & job opportunities for working professionals.

Mineral and Natural Resources in Ranchi

Ranchi district is rich is natural and mineral resources.The Ranchi city is surrounded by a large & green forest area, which provides many basic raw materials to a large number of industries like construction, furniture, match box, paper, rayon, railway slippers, wooden poles, etc. The Forest produce can be classified into two categories: Major Products which include wood from timber, such as Bamboo, Mahua, Shisham, Kusum, Aam, Jamun, Saal, Imli,Gamhar etc. Minor Products are Hara, Behara, Kendu Patta, Saal Seed, Karanj Seed, Mahua Patta, etc., these products have medicinal and commercial value. The fertile land of the rural area of Ranchi comprises of Red & Yellow soil as well as some amount of sand. Water for irrigation purpose is drawn from rivers like Swarnrekha, Koyal, and Damodar.

Industry in Ranchi

Industry in Ranchi

Ranchi has become an important industrial centre in the state of Jharkhand. Due to the presence of good reserves of forest and mineral resources Ranchi is considered to be a good place for setting up medium and large scale industries. A large number of engineering & mining industries present in Ranchi, provide employment opportunities to a major portion of the population of Ranchi. The existing rural industries like Sericulture, Handloom, Handicraft, Khadi, Textile, etc. are also being promoted & developed to give livelihood to rural & tribal population. The District administration helps the industries in terms of modernization/technological up-gradation, providing necessary common facilities, product design, marketing support, etc. so as to make them globally competitive. Some of the major exportable items from Ranchi are Heavy Machinery and Equipment, Lac, Minerals, Ceramics, IT & Consultancy Services.

Large Scale Industries / Public Sector Undertakings in Ranchi

  • Heavy Engineering Corporation, Dhurwa, Ranchi
  • Marine Diesel Engine Project, Garden Reach Ship Builders ltd, Dhurwa Ranchi
  • Central Coalfields Limited, Ranchi
  • Metallurgical Consultant Limited, Doranda, Ranchi
  • Steel Authority of India Limited, Hinoo, Ranchi
  • Central Mining & Planning Design Limited, Kanke Road, Ranchi
  • Ranchi Ashok Bihar Hotel Corporation Ltd., Doranda, Ranchi
  • Bharat Sanchar Nigam Limited, Ranchi

Major State Public Sector Undertakings in Ranchi

  • Sikidiri Hydro Power Plant (Jharkhand State Electricity Board), Ranchi
  • Ranchi Industrial Area Development Authority, Ranchi
  • Jharkhand State Tourism Development Corporation, Ranchi
  • Jharkhand State Tribal Development Corporation, Ranchi
  • Jharkhand State Scheduled Tribe Development Cooperative Society, Ranchi
  • Jharkhand State Scheduled Tribe Development Cooperative Society, Ranchi
  • Jharkhand Govt. Tool Room & Training Center, Tatisilwai Ranchi

Medium Scale Enterprises in and around Ranchi

  • Chhotanagpur Rope Works Private Ltd, Ranchi
  • Pragati Chemicals, Namkum, Ranchi
  • Bharat Mineral and Ceramic Industries, Mahilong, Ranchi
  • Waxpol Industries Limited, Tatisilwai, Ranchi
  • Periwal Hydrocarbon and Chemicals Private Limited, Mahilong, Ranchi
  • Balaji Wire Industries, Mahilong, Ranchi
  • Shivnarayan Jaiswal Private Limited, Ranchi
  • Amaravati Industries, Mahilong, Ranchi
  • Anil Chemicals Industries, Mahilong, Ranchi
  • Bhavani Food Products Private Limited, Namkum, Ranchi
  • Chotanagpur Concrete Pipe Industries, Mahilong, Ranchi
  • Hindustan Tiles, Hullhundu, Ranchi
  • Mangalam Lubricants, Hardag, Ranchi
  • Pensol India Private Limited, Namkum, Ranchi
  • Miki Wires Works, Namkum, Ranchi
  • Raj Ceramics, Hardag, Ranchi

Major Industrial Bodies of Ranchi

The Federation of Jharkhand Chamber of Commerce & Industries (FJCCI)

Business and Economy of Ranchi

The Federation of Jharkhand Chamber of Commerce & Industries (FJCCI) is the apex body of Traders, Industrialists, and Professionals of the entire Jharkhand State. The federation is committed to the upliftment of Trade, Commerce & Industries. In the current changing economic scenario of liberalization, globalization & privatization there is greater need of FJCCI to work on creating conducive environment for business to grow & compete. The Focus of FJCCI is on developing Ranchi as the main centre for trade & commerce, it being the capital city of the state.

Address: Post Box No. 32, Kadru Diversion,
Main Road, Ranchi – 834001
Phone : 0651 – 2331250
Fax : 2331040
Email : fjccirnc@gmail.com, info@fjcci.org

The Ranchi Industrial Area Development Authority

The Ranchi Industrial Area Development Authority, is an autonomous body, involved in the industrial development of seven Tribal Districts of Jharkhand. This autonomous body, is engaged in the development of Ranchi industry. Ranchi district and the adjoining areas have a large concentration of mineral resources and forest area. It provides the following assistance to the upcoming industrial units:
  • Arrangement of loans and banking finance
  • Technical knowledge
  • Project selection along with location
  • Supply of power and water
Thus the area is ideal for setting up of large medium & small-scale industries based on minerals, forests, and metals. The Ranchi Industrial Area Development Authority is thus helping the industrialists to set-up factories here & contribute to the growth of the region.

Address: RIADA Building
5th Floor,
Namkum Industrial Area,
Ranchi

Micro, Small & Medium Enterprises-Development Institute (MSME-DI), Ranchi

Micro, Small & Medium Enterprises-Development Institute (MSME-DI), Ranchi is administered by the Development Commissioner (MSME) and is affiliated to the Ministry of Micro, Small and Medium Enterprises, Govt. of India. MSME-DI, Ranchi is actively engaged in promoting the development of Micro, Small & Medium Enterprises by providing counseling, consultancy and training to the prospective & existing SMEs. The Institute regularly organizes consultancy, buyer-seller meet, vendor development programs, awareness and modernization programs, etc. to assist the entrepreneurs.


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    Topan Sarkar from Ranchi 544 Days ago

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