Patna, In an exclusive conversation with TOI, Sandeep Poundrik, the additional chief secretary of the department of industries, shed light on Bihar’s struggle to alter the perception hindering major business investments in the state. Despite government efforts, convincing big business houses and global firms to invest in Bihar remains a challenge.
As the state gears up for the ‘Bihar Business Connect 2023 – A Global Investors’ Summit’ scheduled for December 13-14 in Patna, Poundrik emphasized the department’s focus on showcasing Bihar as an attractive investment destination. Highlighting industrial infrastructure, skilled manpower, and unwavering government support, he expressed confidence that attracting big businesses would pave the way for further investments.
Poundrik mentioned notable achievements, including Britannia’s establishment of a Rs 250-crore factory in Bihta and Adani Group awaiting environmental clearance for cement factories in Nawada and Muzaffarpur. He underscored Bihar’s enormous market potential, with a combined population of around 40 crore when considering neighboring regions.
Acknowledging Bihar’s advantages in terms of young workforce, surplus water availability, and raw materials, Poundrik asserted that Bihar, Uttar Pradesh, and Odisha are poised to become the next manufacturing hubs. He acknowledged the logistical challenges in the state and revealed plans to develop multimodal parks to reduce transportation costs.
While Poundrik admitted IT remains a challenge for Bihar, he outlined the state’s development initiatives, including a mega food park in Motipur, Muzaffarpur, and the approval of a leather park in the same area. He highlighted the state’s industrial policy incentives, such as interest subvention, GST reimbursement, and capital subsidies.
Responding to inquiries about Bihar’s readiness for IT investments, Poundrik admitted the challenge but highlighted ongoing efforts, including the development of common facilities and various subsidies for textile and leather sectors.
Regarding the Bihta dry port developed in 2013, Poundrik acknowledged the need for more such ports in the state. He provided insight into Bihar’s industrial progress, citing over Rs 1,300 crore invested in the last year on developing industrial areas, ‘Plug & Play’ industrial sheds, and other initiatives.
Discussing the future of Bihar’s silk industry, Poundrik mentioned ongoing efforts by the Handloom and Sericulture Directorate to address challenges related to silk thread availability and marketing. He expressed optimism about the state’s industrial growth and invited participation from top firms in the upcoming global summit.
