Bihar Business Connect 2024 Summit : The Bihar government has unveiled an ambitious plan to fast-track the implementation of investment proposals secured during the Bihar Business Connect 2024 summit held in Patna in December 2023. With a focus on fostering industrial growth the state aims to operationalize 15 new manufacturing units within the next 51 days. The industries department is actively facilitating this process by providing seamless support to investors ensuring a conducive environment for business growth.
A New Industrial Era for Bihar
Industries Minister Nitish Mishra emphasized that Bihar is on the brink of a transformative industrial phase with investors showing keen interest in various sectors. “Our priority is to swiftly execute these proposals to unlock the state’s economic potential,” Mishra stated. The Bihar Business Connect 2024 summit garnered investment commitments worth Rs. 1.81 lakh crore, marking a significant milestone for the state’s industrial landscape.
To ensure timely execution the industries department has directed officials to expedite land allocation and secure necessary clearances including no-objection certificates (NOCs) from relevant departments. “We are committed to providing all required resources and support to investors at the earliest,” Mishra added.
Progress in Investment Approvals
In a recent meeting of the State Investment Promotion Board (SIPB) chaired by State Development Commissioner Pratyay Amrit, investment proposals for 41 industrial units were approved. Among these 29 units received financial approvals totaling Rs. 368.99 crore. Notable companies such as Supreme Industries Limited, Go Green April Limited, Regal Resources, India Agro Foods, and Shalimar Pellet Feeds Limited were granted stage-1 clearance for their projects.
During the fiscal year 2024-25, the SIPB has already approved 312 industrial units with a combined investment of Rs. 33,551.69 crore. Of these, 196 units have received financial approvals amounting to Rs. 2,348.85 crore.
Key Investments in Food Processing and Renewable Energy
Several prominent companies have expressed interest in investing in Bihar, particularly in the food processing and renewable energy sectors. Allana Consumer Products Pvt Limited known for brands like London Dairy and Anand Dairy, has initiated discussions with the state government for potential investments.
Grus and Grade Private Limited plans to invest Rs. 905 crore to establish an automatic Poha-making plant and a biofuel facility. Similarly, Madhubani Makhana Pvt Limited will invest Rs. 25 crore to set up a Makhana processing unit, further boosting the state’s agri-processing sector.
Major Commitments from Industry Leaders
The Adani Group has pledged Rs. 20,000 crore to develop an ultra-supercritical thermal power plant and expand its presence in cement production, warehousing, and logistics. NHPC has also committed Rs. 5,500 crore for renewable energy projects in the state.
In the food processing sector, SLMG Beverages has signed a Memorandum of Understanding (MoU) to invest Rs. 3,000 crore, while Shree Cement will invest Rs. 800 crore in general manufacturing. Haldiram Snacks Pvt Ltd has announced plans to invest Rs. 300 crore in the food processing industry.
Conclusion
Bihar’s proactive approach to industrial development coupled with its investor-friendly policies is set to transform the state into a hub for manufacturing and agri-processing. By prioritizing the swift implementation of investment proposals the government aims to create employment opportunities, boost economic growth, and position Bihar as a preferred destination for businesses.
