On the inaugural day of the Bihar Business Connect-2023 Global Investors Summit at Gyan Bhawan, Patna, 15 prominent companies in the general manufacturing sector inked Memorandums of Understanding (MoUs) amounting to a staggering 15,570.61 crore, as revealed in a press release.
Top Investments:
– Indian Oil Corporation Limited (IOCL): Rs 7,386.15 crore
– UltraTech Cement Limited: Rs 1,000 crore
– Star Cement: Rs 650 crore
– Bharat Energy Distillery Private Limited: Rs 614 crore
– Medical World Private Limited: Rs 600 crore
– Bharat Plus Ethanol Private Limited: Rs 565 crore
These commitments highlight the significant financial infusion into the state’s industrial landscape.
Sandeep Poundrik, Additional Chief Secretary of the Industry Department, outlined the state’s favorable policies and facilities for entrepreneurs. Bihar, known for its skilled labor, robust road connectivity, and abundant water resources, seeks to attract investments.
Information and Public Relations Minister Sanjay Kumar Jha expressed optimism about the transformative impact of Bihar Business Connect on the state. Emphasizing the government’s commitment to facilitating investments, he noted Bihar’s evolution from a historical land to an industrial hub.
Energy Minister Bijendra Yadav highlighted the East-West Corridor and Golden Corridor’s positive influence on Bihar’s transportation. He underscored Bihar’s advantage in essential factors like manpower, water availability, market access, and road connectivity.
Over the last 10-15 years, Bihar has undergone extensive changes, creating a favorable environment for industries. The government’s proactive industrial policies aim to position Bihar as an industrial powerhouse.
Minister Jha urged entrepreneurs to invest in Bihar, assuring them of government support and facilities. He highlighted the state’s robust electricity production of 7,000 megawatts, ensuring ample power supply even in remote areas.
With an abundance of perennial rivers ensuring water availability year-round, Bihar positions itself as an attractive destination for industries. The state’s focus on ease of doing business and investment promotion policies signals a promising future.
