Bihar is set to roll out the red carpet for domestic and foreign investors at a mega event in December, aiming to attract investments in sectors such as textiles, food processing, and Electric Vehicles (EVs) to create jobs and boost business in the state. Building on the grand success of the 2023 edition, the state will host the two-day Bihar Business Connect event on December 11 and 12 in Patna. In the lead-up to this event, roadshows will be held in various cities, starting with Kolkata on Monday.
"Bihar has a strategic locational advantage. Through Bihar, we can cater to the entire northeast, Nepal, Bangladesh, and Bhutan, and connectivity is excellent now in terms of roads and we have now three functional airports in Gaya, Patna and Darbhanga," said Nitish Mishra, Bihar's Minister for Industry and Tourism, who would be leading the roadshows.
Bihar Business Connect on December 11-23 in Patna
Being a land-locked state, Bihar is giving export subsidies to bear the cost of moving goods to the nearest port, he added. This, together with a very progressive industrial policy, makes the state an ideal investment destination. "We are having Bihar Business Connect on December 11-23 in Patna. Before that, we are going to big cities for investors' meet starting from Kolkata on July 1. Investors meet in Kolkata is happening in association with Indian Chamber of Commerce," he told the media.
About last investor meeting in 2023
The last edition of the investor meeting in 2023 saw memorandums of understanding (MoUs) being signed for proposed investment of Rs 50,500 crore by as many as 278 companies. Adani group had committed Rs 8,700 crore in cement manufacturing, logistics and agro-industry. "Bihar Industrial policy of 2016 is one the best in the country as far as investment is concerned. We also have sector-specific policies like food processing, leather, textile, bio-fuels etc. Bihar has huge potential for textile, food processing, leather, and these are the areas where we are eyeing for investments," the minister said.
He said the state will host 5-6 investor roadshows in different parts, leading to the big summit in December. "Apart from Industrial policy, we also have tourism policy and IT policy. So, wherever we have these road shows or business events, we are not just talking about industrial policy but also about tourism and IT policy," he noted.
(With PTI inputs)
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