Patna: A total of 423 landmark Memorandums of Understanding (MoUs) worth Rs 1.8 lakh crore were signed with leading companies of various sectors, paving the way for transformative industrial collaborations in Bihar during the Bihar Business Connect 2024.
In his message, Chief Minister Nitish Kumar said here on Friday that over the past few years, he worked tirelessly for the development of Bihar in which various companies contributed immensely. Expressing his gratitude towards the representatives of various companies attending the summit, he said that the efforts of the investing companies will not only benefit the people of Bihar but also create new opportunities and generate more employment in the state.
Kumar said that the infrastructure, resources, and a vibrant population make the state conducive for investments for which the Chief Minister extended his invitation to the business tycoons to invest in the state and join hands with the government in driving Bihar’s progress and shaping a brighter future.
A total of 423 MoUs that were signed during the summit 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 Rs 36,700 crores and NHPC bringing Rs 5,500 crores. In the food processing sector, SLMG Beverages (Coca-Cola) and Haldiram’s Snacks Pvt. Ltd. pledged Rs 3,000 crores and Rs 300 crores, respectively. Additionally, Shree Cement committed Rs 800 crores in general manufacturing.
Addressing the gathering, Deputy Chief Minister 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.”
Industries cum Tourism Minister Nitish Mishra said that 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. He said Bihar is in the process of reclaiming its 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.
Secretary, Department of Industries, Bandana Preyasi said that in the coming year, Bihar is 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, she ensured ample availability of land.
A CEO Round Table was organized, encouraging dialogue between policymakers and industry leaders, and highlighting the government’s collaborative approach to industrial development.
A Coffee Table Book, ‘Bihar: A Journey of Industrial Transformation’ was also unveiled during the two-day summit which concluded on Friday presenting 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.
Source: UNI
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