Bihar Business Connect 2024 Concludes With a Historic Milestone; MoUs Worth Rs 1.8 lakh cr Signed

The Bihar Business Connect 2024 concluded on a grand note, marking a historic day for Bihar's industrial growth. The day’s events commenced with the ceremonial lamp lighting by the Hon’ble Deputy Chief Minister Shri Vijay Kumar Sinha, who graced the occasion as the Chief Guest. His presence underscored the state’s commitment to fostering a robust industrial and entrepreneurial ecosystem. The event was further enriched by the presence of distinguished dignitaries from the government, includingShri Nitish Mishra, Hon’ble Industries cum Tourism Minister; Shri Bijendra Prasad Yadav, Hon’ble Energy Minister; Shri Amrit Lal Meena, Chief Secretary, Govt of Bihar; Shri Deepak Kumar, Secretary to the Chief Minister; Shri PratyayaAmrit, Development Commissioner; and Smt. Bandana Preyashi, Secretary, Department of Industries.

Shri Bijendra Prasad Yadav, Energy Minister, Govt of Bihar, read a letter by Hon'ble Chief Minister of Bihar, Shri Nitish Kumar, who couldn't grace the event due to unforeseen circumstances – “I am delighted to welcome everyone here today. Unfortunately, I couldn't join you like last year, but I am thrilled to see the remarkable progress we have made together. Over the past few years, we have worked tirelessly for the development of Bihar, and it fills me with pride to witness your active contributions to this development. Your efforts will not only benefit the people of Bihar but also create new opportunities and generate more employment for our state. We have the infrastructure, resources, and a vibrant population. I invite you all to come to Bihar, invest here, and join hands with us in driving Bihar's progress and shaping a brighter future.”

A significant highlight of the day was the signing of several landmark Memorandums of Understanding (MoUs) with leading companies, paving the way for transformative industrial collaborations in Bihar. Atotal of 423 MoUswere signed during the summit which reached an impressive Rs 1.8 lakh crores—three times the total amount signed last year. Maximum investment came from the renewable energy sector, with Sun Petro Chemicals committing investments worth Rs36,700 crores and NHPC bringing Rs5,500 crores. In the food processing sector, SLMG Beverages (Coca-Cola) and Haldiram's Snacks Pvt. Ltd. pledged Rs 3,000 crores and Rs300 crores, respectively. Additionally, Shree Cement committed Rs800 crores in general manufacturing.

Addressing the gathering, Hon’ble Deputy Chief Minister Shri Vijay Kumar Sinha emphasized the government’s unwavering dedication to transforming Bihar into an industrial hub. He lauded the event as a historic programme that reflects the state’s progressive vision and its ability to attract industry leaders from across the nation. He said, “Bihar’s golden history is not defined solely by politics, but by its thriving economic growth. With new industries emerging in Bihar and Jharkhand, a business-friendly legacy, and abundant natural resources like nickel and platinum near Jehanabad, the region is unlocking its true potential. From thriving food processing to the development of a Film City, Bihar is creating unparalleled opportunities for growth and employment. The government’s commitment to a 'Viksit Bharat' vision, alongside efforts to build a corruption-free environment, is laying the foundation for a prosperous future.”

Shri Nitish Mishra, Hon’ble Industries cum Tourism Minister, Government of Bihar, mentioned, “Thank you to everyone who has been a part of this transformative journey in Bihar. Over the past 19 years, Bihar has risen from a negative growth rate to achieving a historic milestone, now contributing significantly to the country’s growth. As the Prime Minister highlighted during the Nalanda University inauguration, Bihar's journey towards growth and development is a testament to its resilience and ambition. We are in the process of reclaiming our lost pride, with the recent MoUs signed at the summit—valued at an impressive Rs 1.8 lakh crores—marking a threefold increase from last year, paving the way for even greater progress.”

During the round table conference with noted CEOs of India's leading companies, Shri Amrit Lal Meena, Chief Secretary, Bihar, said, "I assure all investors that the Bihar government is fully committed to providing every possible support to facilitate their ventures. We are ready to address specific demands to ensure a smooth and productive investment experience. Additionally, we have introduced provisions for double shifts for women to promote greater participation in the workforce and foster an inclusive economic environment. We are also working create a grievance redressal mechanism to quickly address the issues of investors."

Highlighting the infrastructure development in the state, Shri PratyayAmrit, Development Commissioner, Bihar, said, "Rapid infrastructure development in Bihar, coupled with improved electricity availability, has created a robust foundation for growth. We are committed to fostering a collaborative environment by engaging with investors regularly to address their needs and ensure the success of their ventures in the state."

Smt. Bandana Preyashi, Secretary, Department of Industries, Government of Bihar said, “In the coming year, we are committed to showcasing tangible progress across all sectors. With Stage 1 clearance granted to all companies, the groundwork for transformative projects has already begun. Currently, 1,800 acres of land are available, with additional land parcels being strategically selected to meet sectoral needs. Recognizing the significant land requirements for renewable energy projects, we are ensuring ample availability. Together, we are building a brighter, more prosperous Bihar.”

ACEO Round Table was organized, encouraging dialogue between policymakers and industry leaders, highlighting the government’s collaborative approach to industrial development.

A Coffee Table Book, ‘Bihar: A Journey of Industrial Transformation’ was also unveiled by all guests present there, adding to the historic significance of the occasion. This publication provides an in-depth look into the government's initiatives, policies, and reforms aimed at driving industrial growth in Bihar. It also offers sector-specific insights to assist industries in making informed investment decisions in the state.

During the event, Smt. Bandana Preyashi and senior officials of the Industries Department jointly addressed the media in a press conference.

Shri Alok Ranjan Ghosh, Director of the Industries Department, expressed gratitude to the Hon'ble Chief Minister and the Hon'ble Industries cum Tourism Minister, Shri Nitish Mishra, in his vote of thanks. He also extended his appreciation to the investors, entrepreneurs, media and all other participants for their support in making the event a success.

The Bihar Business Connect 2024 holds the promise of attracting significant investments to the state, which will not only create new employment opportunities but also strengthen Bihar's industrial landscape. The summit has set a new benchmark for industrial summits in the state, reinforcing Bihar’s position as a promising destination for investment and innovation.During today's programme, the secretaries and senior officials of all relevant departments of the Bihar Government were also present.