Bihar accelerate major investment as industrial growth..

Bihar once considered less industries friendly is experience a remarkable turnaround as major companies such as adani group and coca cola make significant investment in the state. Under the leadership of industries and tourism minister Nitish Mishra, Bihar is being positioned as a key gateway for investor seeking access to eastern India.

Mishra , with proactive approach to governace is working to shed the perception bais that has traditional hindered the state industrial growth. Recently adani group announced as 8700 cr. Investment while ambuja cement is setting up a 1200 cr. Unit and cokacola is expanding its bottling capacity. Last year Bihar business connect 2023 an invester summit saw MoU worth over 50000 cr. being sign with 300 companies and this years edition is expected to bring in even more. 

Bihar is offering a range of fiscal incentive to attract investor including intrest subversion state GST reimbursement, stamp duty waving and transportation and power concession. The state has also streamline the approval process with a single window clearance system. 

Mishra highlights that Bihar strategic location combined with abundant resources inexpensive labour and vast market it an ideal investment destination. The state is actively addressed past obstacles such as the outdated freight equalization policy and focus on improving infrastructure including road highway and power plant. Furthermore Bihar proximate to key market in eastern and northern India as well as Nepal Bangladesh and Bhutan boost it's investment potential. 

Bihar agriculture based abundant labour force and resources endowed make it its strong contender for the range of industries including agro based sector like food processing silk tea and non metallic mineral. Additional the state has developed warehouse food parking lather processing hubs and multi Modal logistics park further enhancing its industrial appeal. 

Mishra announced that the state has setup a 3000 acre land bank for industrial project and is offering ready to move plug and play industrial sheds. The state has also improved law and order and now offer nearly round the clock electricity as access to seaport in Kolkata and haldia. 

Bihar government is focusing on key sector such as food processing, IT , textile lather and biofuels. Mishra is particularly bullish on IT sector given Bihar strong presence in the multinational companies. The state is also betting on the textile sector which has significant employment potential and biofuels especially ethanol and compress biogas. 

Bihar tourism sector with its rich history in jainism and Buddhism is another area of focus. The state has introduced an exclusive tourism policy to attract private investment in religious and eco tourism as well as nature reserves and tiger sanctuary. 

Looking ahead the second edition of Bihar business connect 2024 schedule for 19to 20 dec. Is expected to attract even more investor and generate significant commitments. The state is poised to continue its industrial resurgence wirhkey project already in motion and new ones on the horizon. 

Mishra concluded by emphasis that Bihar ongoing growth which now exceed the nation average reflected the state readiness for forthure industrialization and its role in India overall development. The Bihar business connect summit will showcase these oppertunity driving the state ambition to become a major industrial hub in the coming year..