40 companies keen to invest Rs. 4,000 crore in the IT sector in Bihar

Patna: Over 40 companies have shown their interest in investing Rs. 4,000 crore in the IT sector on the first day of the ‘Bihar Business Connect – Global Investor Summit’.

Addressing the summit as Chief Guest Bihar Information Technology Minister Santosh Kumar Suman said here on Thursday that followiIng the implementation of the Bihar IT Policy 2024, both national and international companies were increasingly eager to invest in the state. He said that with the state’s IT infrastructure, educational initiatives, and policy framework creating an ideal ecosystem for tech companies and startups, Bihar was witnessing a digital revolution.

The minister said that the initiatives including Bihar State Data Center and Digital Bihar, the government has enhanced connectivity, data security, and e-governance solutions, which were transforming the delivery of public services.
Compared to metro cities, the operational costs were lowest in Bihar, he said which has led to significant savings in office rents, talent hiring, and everyday expenses.

On the occasion, IT Secretary Abhay Kumar Singh gave a presentation on the Bihar IT Policy 2024. Addressing the session, he stated, “Any company that invests Rs. 100 crore will receive Rs.70 crore as an incentive. This is the largest incentive available in any state.” He also mentioned that 10 lakh square feet of office space is available in the state. Additionally, Bihar has a large pool of IT professionals, and many software and IT engineers are eager to return to the state.

On the first day of the Business Connect event, a discussion on the topic “Fostering Synergies: Building a Vibrant IT/ITES and ESDM Ecosystem in Bihar” was held. The session was attended by key figures including Arvind Kumar Chaudhary, Special Secretary of the IT Department, Som Satsangi, CEO of HP, M Mayank C., Director at ABPL, Preet Sandhu, Founder of ABPL, Raghavendra Ganesh, Founder of HelloWare, Sameer Jain, Managing Director of Primers Partners and Siddharth Reddy, Global Market Head at CTRLs.

Over 200 representatives from various companies including Jay Shree Technologies (Holoware), SuperSeva, Excel Dot, and ABPL participated in the summit and signed Memorandum of Understanding (MOUs) with the IT Department.

Source: UNI

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