Patna, In a groundbreaking development, the two-day Bihar Business Connect 2023 summit concluded with a remarkable achievement – over Rs 50,000 crore worth of Memorandums of Understanding (MOUs) were signed with 300 companies, underscoring Bihar’s growing appeal as a prime business destination.
“In a landmark achievement, 300 companies have signed Memorandums of Understanding (MOUs) for investments totaling 50,530 crore rupees, showcasing Bihar’s growing attractiveness as a key business destination,” highlighted the official press note.
BPCL leads the investment charge with plans for a project exceeding Rs 7,000 crore, followed by Patel Agri Industries committing to a project worth over Rs 5,000 crore. Adani Group is set to establish a manufacturing plant with a project cost of Rs 8,600 crore, reinforcing the state’s industrial prospects.
Additional Chief Secretary of the Industry Department, Sandeep Poundrik, expressed optimism, expecting MOUs worth Rs 35,000 crore across diverse sectors. The manufacturing sector drew investments exceeding Rs 31,000 crore, with food processing, services, IT, and textiles also attracting substantial investments.
Representatives from key companies, including Bharat Petroleum Corporation Limited, Adani Group, Holtec International, Patel Agri Industries Private Limited, and IT company CTRL, participated in the summit. Adani Group, having already invested Rs 850 Crore in Bihar, announced plans to increase this investment tenfold to over Rs 8,000 Crore.
Experts foresee that the Bihar Business Connect 2023 will play a pivotal role in globalizing the industrial landscape of the state.
Stay tuned for more updates.