Patna, In a promising stride towards bolstering industrialization in Bihar, the first day of the Bihar Business Connect 2023-Global Investors Meet witnessed the signing of memorandums of understanding (MoUs) worth ₹554.40 crore in the textile and leather sectors. Eight companies committed to substantial investments, setting a positive tone for the state’s industrial ambitions.
Addressing the gathering at the inaugural session, Industries Minister Samir Kumar Mahaseth expressed Bihar’s determination to secure a position among the top 10 states in industrial investment within the next three years and among the top five destinations within the next five years.
Mahaseth outlined the state’s revised industrial policy, emphasizing swift land availability within 7-10 days to facilitate rapid business ventures. He reiterated the government’s commitment to job creation and urged the creation of Special Economic Zones (SEZs) in Bihar, seeking support from the Centre.
“Join the new Bihar and enrich it. If industries grow in the state, the country will progress too. I once again request the Centre to create at least four SEZs in the state that will pave the way for fresh investment opportunities,” said Mahaseth, highlighting the transformative changes in Bihar’s policies.
The minister emphasized the need for special status for Bihar to ensure accelerated growth. He outlined the state government’s focus on key sectors such as food processing, leather, textiles, and information technology.
On the summit’s inaugural day, the focus was on the textile and leather sectors. Eight major firms signed MoUs for substantial investments, with noteworthy contributions from Savi Leathers (₹274 crore), Komal Texfab (₹100.50 crore), Maa Prabhawati Textile Mills (₹94 crore), Cosmus Lifestyle Private Limited (₹52 crore), and Bharti Exim Private Limited (₹15 crore).
Kamal Oswal of Nahar Group of Industries announced plans for a logistics park in Patna, and Ramesh Agarwal, MD of Rupa Company, expressed the popularity of his company’s products in Bihar.
The summit witnessed international participation, with Bui Trung Thuong, the trade counsellor of the Vietnamese embassy, exploring investment options in Bihar, aligning with the spiritual connection between Vietnam and Bihar through Bodh Gaya.
Sandeep Poundrik, additional chief secretary (industries), highlighted the significant contribution of the bag manufacturing cluster in Muzaffarpur to the state’s industrial development.
The Bihar Business Connect 2023 aims to propel Bihar’s economic landscape by attracting investments and fostering growth across diverse sectors.
