Bihar eyes Rs 40k-cr investments

Extra Push

•  A total of 40 MoUs expected
•  Food processing, textile, leather and IT in focus
•  Project execution more vital for Bihar
•  CM Nitish Kumar will address on Thu

Patna: Investments to the tune of Rs40,000 crore are expected from the two-day Bihar Global Investors’ Summit, which kickstarted here on Wednesday. Investment proposals amounting to Rs34,000 crore had already been received by us and we are hopeful of making it to Rs40,000 crore at the end of the summit,” said a source familiar with the development.

A total of 40 MoUs are likely to be reached between the State and the investors, coming from around 16 countries and the domestic. They include 10 MoUs from global investors, the source added.

The priority sectors, which are likely to see the investments in the State over next couple of years include food processing, textile, leather and IT.

However, another source, who requesting anonymity, said that implementation of the projects will be the biggest challenge before the State. Reality on the ground is quite different, he added. Representatives from 16 countries including the US, Taiwan, Japan and Germany will attend the summit or Bihar Business Connect-2023.

Talking to Bizz Buzz, the State’s Industries Minister Samir Kumar Mahaseth said a total of 600 delegates including those from major Indian business houses such as Adani Group, Godrej Group and Britannia will take part in the two-day event.

The Bihar Business Connect-2023 is a global investors’ summit, which aims at projecting the State as an attractive global investment destination. The event will highlight the State’s advantages across key sectors such as textiles, food processing, IT and bio-fuel, he said.

The State has formulated policies providing support and incentives to the investors. The concluding day event will be attended by Chief Minister Nitish Kumar, he added.