Bihar To Unveil Sector-Specific Initiatives To Woo Investments

Patna: Bihar government will acquire more land for the setting up of industries and will soon unveil five new sector-specific policy incentives to attract investment in the state, Industries Secretary Bandana Preyashi said on Thursday.

Addressing the ‘Bihar Business Connect 2024’ Summit here, she highlighted various steps being taken by the state government to promote industry and manufacturing activities. “We see Bihar as India’s next growth engine,” Preyashi said. Bihar is known as the cradle of Indian civilisation, the birthplace of buddhism, and the world’s oldest university, she highlighted.

“Now, Bihar is writing a new story. Bihar from the land of history to the land of industry,” Preyashi said. She said physical infrastructure as well as law and order situation has improved a lot under the leadership of Chief Minister Nitish Kumar.

Preyashi said the state government already has Bihar Industrial Investment Policy, 2016 and also some sector-specific policies like Bihar Startup Policy, Bihar IT Policy, Bihar Logistics Policy, Textile & Leather Policy, Bihar Tourism Policy, Export Promotion Policy and Purchase Price Preference Policy to promote development.

These sector-specific policies have been appreciated by the industry, she said, adding “We are soon coming up with more sector-specific policies.” These include Bihar Food Processing Policy 2024, Bihar Pharmaceuticals Promotion Policy, 2024; Bihar Plastic Manufacturing Promotion Policy, 2024; Biofuel Production Promotion Policy, 2024; and Bihar Wood Based Industries Policy, 2024, Preyashi said.

The state has created a land bank of over 3,000 acres for setting up industries. Bihar is also offering about 2.4 million square feet of Plug & Play Sheds.