At the 2026 World Economic Forum in Davos, Tata Steel and the Jharkhand government signed a landmark Memorandum of Understanding (MoU) for an ₹11,100 crore investment in sustainable industrial infrastructure. This partnership marks a pivotal shift for the state, aiming to transition from a mineral exporter to a global hub for green manufacturing.
A significant ₹7,000 crore will be dedicated to deploying advanced HISARNA and EASyMelt technologies. These “green steel” innovations, pioneered in the Netherlands and Germany, can reduce carbon emissions by 50% to 80% when integrated with carbon capture. Tata Steel plans to establish a 1-million-tonne-per-annum commercial facility in Jamshedpur by 2030.
During the summit, Chief Minister Hemant Soren became the first elected tribal leader from India to receive the WEF’s prestigious “White Badge” honour. Beyond steel, the Jharkhand delegation explored collaborations with Hitachi and the Sweden–India Business Council to upgrade state ITIs and enhance energy systems.
