In a strategic move to revamp Bihar’s economic landscape and dispel the “jungle raj” narrative, Chief Minister Nitish Kumar is set to host the “Bihar Business Connect 2023 – A Global Investors’ Summit” on December 13-14 in Patna. This event, a precursor to the larger summit, aims to attract investors from countries like Japan, Taiwan, UAE, the US, and Bangladesh.
Bihar Industries Minister Sameer Mahaseth, addressing an investors’ meet in Delhi, emphasized the state’s commitment to promoting business and creating a conducive environment for investments. The summit is crucial for the Nitish government, striving to rebrand Bihar as a development-oriented state capable of generating employment and fostering industrial growth.
Mahaseth highlighted Bihar’s achievements, stating that of the 86 investors who participated in the 2022 summit, 66 have already established units in the state. The government is actively reaching out to global investors, with Mahaseth personally visiting Japan and the US to ensure international participation.
The focus sectors for investment include textile and leather, food processing, and information technology. The government has allocated a land bank of 3,000 acres, offering various incentives under its industrial policy. Initiatives like “Plug and Play” involve constructing industrial sheds for key sectors, available for rent at a nominal cost.
Additional Chief Secretary of the Department of Industries, Sandeep Poundrik, highlighted Bihar’s appeal with its strategic location, abundant raw materials, skilled manpower, and a substantial market. The state’s population of 13 crore provides access to around 40 crore people in neighboring regions.
The summit, unprecedented in scale according to government sources, aligns with Nitish Kumar’s efforts to position Bihar as an attractive investment destination, showcasing its economic potential and growth opportunities.
By PTI
