Bihar woos investors with road shows, attempts to ‘change perception about State’

Govt. to organise global investors’ summit in state capital for the first time

Updated - October 16, 2023 10:55 pm IST

Published - October 16, 2023 09:39 pm IST - MUMBAI

Samir Kumar Mahaseth

Samir Kumar Mahaseth

After slow but steady developmental initiatives and nascent economic growth, Bihar is reaching out to investors from India and abroad via roadshows.

The State Industries Department is conducting events in various parts of the country to meet industrialists and businessmen and apprise them of the law and order situation in the State and its ‘industry-friendly business climate.’ Joined by a battery of top bureaucrats, Bihar Industries Minister Samir Kumar Mahaseth met more than a dozen businessmen from Mumbai on Monday and invited them to attend the state’s first ever “Global Investors’ Summit” to be held in the State capital Patna, between December 13-14, where more than 1,000 delegates are expected to participate and several sectoral policies would be announced.

“We want to change their (investors) perception of Bihar,” said Mr. Mahaseth.

“Bihar has changed, our infrastructure and law and order situation are on a par with any other State,” said Mr. Pankaj Dixit, Director, Industries Department of the state.

“Our primary objective (is) to promote MSMEs. This sector is a pre-requisite for industrialisation,” Mr. Dixit added.

Besides, the State had created a plug-and-play facility of 24 lakh sq. ft. for companies to start operations without delay. The government has spent more than ₹1,400 crore in two years to develop industrial areas and created a land bank of over 3,000 acres for industries. The roads had become better and connectivity had improved drastically, Mr. Dixit emphasised.

The State is looking for investment in priority sectors which include food processing, textile, apparels, IT/ITES, electronics and electric vehicles.

“Bihar has come a long way. Companies which have bases are increasing capacity. We may have a population of 13 crore, but our catchment areas have 35 crore people, including in Nepal and Bhutan. So, any company that would invest in Bihar will have access to this market,” said Mr. Mahaseth. . The government had come up with new proposals for 40,000 small-scale industries in the state for migrant labourers, he added.

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