• ABOUT
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS
Sunday, June 1, 2025
  • Login
Economy India
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories
No Result
View All Result
Economy India
No Result
View All Result
Home Business

Govt of Jharkhand collaborates with ISB to develop forest economy

by Economy India
December 31, 2021
Reading Time: 2 mins read
FEATURED IMAGE ECONOMY INDIA 1 1
0
SHARES
0
VIEWS
Share on FacebookShare on XShare on Linkedin

Ranchi: Taking a significant step towards creating jobs and wealth through a model of sustainable development, the Government of Jharkhand collaborated with Indian School of Business for a unique initiative to empower the state’s forest economy. In an event to mark the second anniversary of Hemant Soren-led government today, the Department of Scheduled Tribe, Scheduled Caste, Minority and Backward Class Welfare along the Department of Forests, Jharkhand, signed an MoU with the Bharti Institute of Public Policy at Indian School of Business (ISB), Hyderabad, to develop scalable and sustainable solutions focussing on forest-based industrial value chains.

“Our approach is to build and formalise linkages between major stakeholders in existing value chains for forest-based industrial raw material while creating incentives for sustainable forest management. We will facilitate institutional and technological capacity building of communities. This vision will contribute towards meeting India’s global commitments for sustainable development,” said Prof Ashwini Chhatre, Executive Director, Bharti Institute of Public Policy, ISB, while formalising the collaboration with Naman PriyeshLakra, Welfare Commissioner, Government of Jharkhand, in the presence of Governor Ramesh Bais and Chief Minister Hemant Soren in the state capital today morning.

In January 2020, the Chief Minister, less than a month old in office, had approached ISB to propose a cluster-based strategy for development of forest economy in the state. Based on research on the current scale and future potential of existing value chains, the team of researchers from ISB, led by Prof Chhatre, proposed an institutional design to facilitate sustainable forest management, value addition, and industrial procurement of seasonal forest products.

The ISB team plans to pilot this approach in Gumla district, before expanding to other districts with promising forest products. For this, the researchers have prepared an action plan, starting with creating incentives for local communities by establishing Community Forest Resource rights under the Forest Rights Act. The teamisalso working closely with Jharkhand State Livelihood Promotion Society (the nodal agency for the National Rural Livelihoods Mission in Jharkhand) for supporting this vision through women’s self-help groups (SHG).

“We will prepare a business plan based on market demand for select forest products in Gumla and assess the need for capital investments in infrastructure for collection, storage, processing, and transportation of forest products through women-centric forest-based enterprises. We will build the capacity of SHG leaders for product aggregation and pre-processing through technological enhancements,” explains Shreya Jain, Research Associate, ISB.

The lynchpin of the initiative is a partnership between local communities as the custodians of forest resources; industry leaders using the products of that forest, and government agencies facilitating and regulating the creation of jobs and wealth. This unique project also represents a triple-win opportunity by reducing environmental threats, creating jobs at the bottom of the pyramid, and establishing sustainable forest management systems.

“We seek to establish active collaborations with government agencies, academic institutions, private companies, and civil society organizations in Jharkhand to address the tremendous potential of forests to create jobs and wealth while also mitigating adverse environmental impacts,” added Prof Chhatre.

(Economy India)

Tags: Chief Minister Hemant SorenDevelop Forest EconomyGovt of JharkhandIndian School of Business (ISB)Jharkhand
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

Next Post
FEATURED IMAGE ECONOMY INDIA 1 1

Index Of Core Industries (ICI) Shows Gain Of 3.1% On Year

Popular News

  • Innovation and Startup Funding Essential for Developed India: ASSOCHAM

    Innovation and Startup Funding Essential for Developed India: ASSOCHAM

    0 shares
    Share 0 Tweet 0
  • No Charges for Updating Nominee Details in PPF Accounts: Finance Minister Nirmala Sitharaman

    0 shares
    Share 0 Tweet 0
  • Startup Mahakumbh 2025: Piyush Goyal to Inaugurate India’s Biggest Startup Fest

    0 shares
    Share 0 Tweet 0
  • PM Narendra Modi Embarks on Official Visits to Thailand and Sri Lanka to Strengthen Regional Ties

    0 shares
    Share 0 Tweet 0
  • India Poised to Strengthen Global Trade and Manufacturing Amid US Tariff Shifts

    0 shares
    Share 0 Tweet 0
  • ABOUT
  • CONTACT
  • TEAM
  • TERMS & CONDITIONS
  • GUEST POSTS

Copyright © 2024 - Economy India | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Companies
  • Finance
  • People
  • More
    • Insurance
    • Interview
    • Featured
    • Health
    • Technology
    • Entrepreneurship
    • Opinion
    • CSR
    • Stories

Copyright © 2024 - Economy India | All Rights Reserved