Business News / Businessmen from across the country and the world opened their safe for Bihar, these big factories will be set up

Business News: Businessmen from across the country and the world have opened their coffers to set up industries in Bihar. Let us tell you that on the first day of 'Bihar Business Connect-2023' organized by the Bihar government, proposed investment agreements worth Rs 26,429 crore were signed with industrialists. Today is the second day of the conference. In such a situation, an announcement of investment worth crores can be made even today. This is big news for Biharis spread across the country and the world. Due to setting up of industries in the state, they will not have to go out of the state to earn. Employment will be available in the state only. According to the information given by the government, on the first day, proposed investment agreements worth Rs 26,429 crore were signed in textile, leather, food processing and general manufacturing sectors. Investment related Memorandums of Understanding (MoUs) were signed between the government and 38 companies at this global investor summit.

Announcement of big investment from IOC

The key agreement includes a commitment of Rs 7,386.15 crore with Indian Oil Corporation (IOC). This was followed by Rs 5,230 crore with Patel Agri Industries Pvt Ltd, Rs 2,000 crore with Indo-European Research and Healthcare Pvt Ltd, Rs 1,600 crore with Dev India Project and Spray Engineering Devices Ltd, Rs 1,000 crore with UltraTech Cement Ltd and This includes an MoU worth Rs 800 crore with Spray Engineering Devices. In the inaugural session of this two-day conference, Bihar's Industries Minister Sameer Kumar Mahaseth reiterated the demand of the Center for the formation of Special Economic Zone (SEZ) in the state. He assured the industry representatives that the Nitish government will provide them all possible assistance to set up industries. Mahaseth said that there has been change in Bihar with new policies. Join the new Bihar and enrich it. If industries grow in the state then the country will also progress. I once again request the Center to create at least four SEZs in the state which will pave the way for new investments.

Investors are increasingly turning towards Bihar

He said that there is no doubt that investors are coming to Bihar. With increased investment, Bihar will join the list of top 10 states in terms of industries in the next five years. In the next five years it will be included in the top five states of the country. Reiterating the demand for special status to Bihar to ensure rapid development in Bihar, he said that the focus of the state government is on food processing, leather, textiles and information technology among other sectors. On this occasion, Bihar Information and Public Relations Minister Sanjay Kumar Jha said that the Global Investors Summit will bring significant changes in the state. The government is providing everything required for investment in the state.

Investment received in these sectors

Textile and leather sectors were discussed in the first session of the conference and MoUs were signed with eight leading companies for investment of Rs 554.4 crore. The proposed investments include Rs 274 crore with Savi Leathers, Rs 100.5 crore with Komal Texfab, Rs 94 crore with Maa Prabhavati Textile Mills, Rs 52 crore with Cosmos Lifestyle Pvt Ltd and Rs 15 crore with Bharti Exim Pvt Ltd. Are included. In the second session of the conference, investment in the food processing sector was discussed and agreements worth Rs 10,304.91 crore were signed with 15 major industry groups. These include investment proposals worth Rs 5,230 crore with Patel Agri Industries Private Limited, Rs 1600 crore with Dev India Project and Rs 800 crore with Spray Engineering Devices Limited. In the third session of the day, investment in general manufacturing sector was discussed and 15 leading companies in this sector signed MoUs worth Rs 15,570.61 crore. These include Rs 7,386.15 crore with IOC, Rs 2,000 crore with Indo-European Research and Healthcare Pvt Ltd, Rs 1,000 crore with UltraTech Cement Ltd, Rs 650 crore with Star Cement, Rs 614 crore with Bharat Energy Distillery Pvt Ltd, The proposals include investment of Rs 600 crore with Medical World Pvt Ltd and Rs 565 crore with Bharat Plus Ethanol Pvt Ltd.

About 600 businessmen participated on the first day

Apart from this, Shiv Industries committed to invest Rs 480 crore, Sri Nilayam Pre Coated Pvt Ltd Rs 261.26 crore, Bharti Airtel Rs 250 crore, RKD Sports India Pvt Ltd committed Rs 245 crore. Godrej Industries Group Chairman Rakesh Swamy assured investment in the food processing sector in Bihar. Bui Trung Thuong, trade advisor at the Embassy of Vietnam, while discussing the spiritual relationship between Bihar and his country, said, “Vietnam's leading role in the textile sector is in line with this relationship. We will explore investment options in Bihar.'' Ahmed Mohammad Mubarak Nazim, Senior Economic Advisor of the United Arab Emirates (UAE), mentioned the free trade agreement with India. UAE has recently imported Makhana worth $2 million from India. Representatives from 16 countries including America, Taiwan, Japan and Germany are participating in this conference. Around 600 delegates, including major Indian conglomerates like Adani Group, Godrej Group and Britannia, are attending the conference.