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According to bank's website, Jharkhand is located in eastern India, India's mineral hub, accounting for approximately 40% of total mineral reserves and contributing 1.62% to the national gross domestic product. The state holds significant national shares of coal (28%), iron ore (26%), and copper (18.5%) driving steady economic expansion with a projected gross state domestic product (GSDP) of $64 billion for fiscal year (FY) 2026. Despite this substantial resource endowment, the state exhibits a jobless growth pattern where industrial output from mining and mining related industry does not translate into broad-based employment, as these sectors employ only 10.15% of the total workforce. This imbalance has created a dual economy where high-value production co-exists with a large population (50.02%) dependent on low-productivity agriculture and limited economic diversification.
Risk Classification: Substantial
Applicable Environment and Social Standards
Loan: Jharkhand Skills Development Project
Ordinary capital resources US$ 91.00 million
No contacts available at the time of disclosure.
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