Bihar Business Investors Meet in Bengaluru: Showcasing Opportunities for Industrial Growth
The Bihar government, led by Chief Minister Nitish Kumar, has taken steps to make Bihar an investor-friendly state. As a part of this effort the Department of Industries, Government of Bihar today organized a ‘Bihar Business Investors Meet’ with eminent investors from India/Abroad at ITC Windsor, Bengaluru in the presence of Smt. Bandana Preyasi, Secretary, Department of Industries. Titled ‘Unlocking Bihar’s Potential: Investor Summit’, the Investors Meet aims to showcase the emerging opportunities, strategic infrastructure projects and attractive policies that make Bihar investor-friendly. It is a significant step in its ambitious efforts to attract investments and encourage industrial growth. The event is being organized in view of the preview of the upcoming Bihar Business Connect 2024 – Global Investors Summit. It aims to showcase the vast potential related to industry establishment in Bihar in various sectors including IT, textiles, food processing and general manufacturing. The Investors Meet is designed to encourage investments and highlight the strategic aspects and investor-friendly policies of Bihar.
Speaking during the event, Smt. Bandana Preyasi, Secretary, Department of Industries, Government of Bihar said that Bihar has witnessed a remarkable transformation in recent years. There is immense potential for growth in various industries here and we are committed to making Bihar an attractive destination for investors. From infrastructure development to promoting a business-friendly environment, we are dedicated to facilitating every step of the investment process. Emphasizing on business-related connectivity in Bihar, he said that connectivity to major industrial corridors like Delhi-Mumbai Industrial Corridor (DMIC) and Amritsar-Kolkata Industrial Corridor (AKIC) will be provided to Bihar, which will open up significant opportunities for collaboration and partnership with investors in Bihar. He said that Bihar has immense potential, especially in the textile industry sector. With the right infrastructure and government support, Bihar is poised to become an important state in India's textile industry. We are confident that such investor meets will further strengthen investor confidence in Bihar.
Emphasizing on the investor-friendly policies and activities of the state, he said that our priority is to facilitate a smooth investment process in Bihar. We have achieved significant progress in industrial policy reforms, land acquisition and infrastructure development. The investor meet held in Bengaluru highlighted these initiatives and showcased how Bihar is poised to become the next big industrial hub. The Government of Bihar invites investors from Bengaluru and across India to explore the vast potential of Bihar. Participants will gain valuable insight into Bihar's industrial landscape, policy framework and key investment sectors. Also, there will be an opportunity to interact with government officials and eminent personalities from the industry. Apart from this, the Secretary also informed that setting up industries in Bihar will mark this state as an industrial hub for eastern Uttar Pradesh, half of West Bengal, and the North-Eastern States. Setting up industries in this state will directly or indirectly impact the needs of about 20-25% of the country's population.
The vision of bringing investments in several industry-related sectors in Bihar such as IT, textiles, food processing and general manufacturing etc. was kept in mind during the Investors Meet of Bihar Business Connect, 2024 held in Bengaluru.
• IT: Bihar is developing its infrastructure to set up IT-related industries, making it an attractive location for the IT industry and IT companies. Many IT professionals working in Bengaluru, Hyderabad and Chennai are choosing to return to Bihar, providing a skilled workforce locally with their valuable skills and experience. This can help companies significantly reduce their manpower costs and also promote a sense of community and stability among the returning professionals, which can lead to increased productivity and satisfaction.
• Textiles: Bihar is emerging as a major destination in the textile industry with special emphasis on technical and sustainable industries such as fiber and bamboo-related industries.
• Food Processing: Bihar offers ample opportunities for investment in the food processing industry with special focus on its agricultural resources such as bananas, makhana and maize.
• General Manufacturing: The state is rapidly developing its manufacturing sector, which provides ample opportunities for interested companies to expand manufacturing-related activities.
The “Bihar Business Investors Meet” program organized at ITC Windsor, Bengaluru was attended by many prominent industrialists from the country and Karnataka along with officials/officials of the Department of Industries, Government of Bihar and the industrialists expressed their support for the initiatives of the Bihar government and highlighted their positive experiences with the state. Companies like IBM, Graphene Semiconductor, Superseva Global Services Private Limited and HungerBox were present at the event.
