Bengaluru, October 28, 2024: The Government of Bihar organized an exclusive Business Investors’ Meet in Bengaluru today, marking a significant step in its ambitious efforts to attract investment and stimulate industrial growth. This event serves as a precursor to the highly anticipated Bihar Business Connect 2024 – Global Investors’ Summit, aimed at showcasing Bihar’s extensive potential across diverse sectors, including IT, textiles, food processing, and general manufacturing.
The Department of Industries, Government of Bihar, hosted this impactful Investors’ Meet. The event was honoured with the presence of Smt. Bandana Preyasi, Secretary of the Department of Industries, Government of Bihar. This Investors’ Meet is designed to catalyse investment and highlight Bihar’s strategic initiatives and investor-friendly policies.
Titled ‘Unlocking Bihar’s Potential: Investor Summit,’ the Investors’ Meet aims to present emerging opportunities, strategic infrastructure projects, and attractive policies that make Bihar a prime destination for investors. Key government officials engaged with investors to discuss the vast benefits of investing in Bihar.
The Investors’ Meet focussed on the government’s continuous efforts to transform Bihar into an industrial powerhouse by leveraging its strategic location, enhanced connectivity, and pro-growth policies. With the development of industrial corridors such as the Delhi-Mumbai Industrial Corridor (DMIC) and the Amritsar-Kolkata Industrial Corridor (AKIC), Bihar is well-positioned to attract substantial investments.
Smt. Bandana Preyasi, Secretary of the Department of Industries, highlighted, “Bihar has undergone a remarkable transformation in recent years. Our state offers immense opportunities for growth across various industries, and we are dedicated to making Bihar an attractive destination for investors. From infrastructure development to fostering a business-friendly environment, we are committed to facilitating every step of the investment process.”
The Bengaluru event provided a platform for investors and industry leaders to explore Bihar’s diverse economic potential. Key sectors in focus include:
IT: Bihar is advancing its infrastructure, making it an attractive destination for tech businesses and IT companies. Many IT professionals from Bihar currently working in Bengaluru, Hyderabad, and Chennai would prefer to return to their home state, bringing with them valuable skills and experience. This not only provides a skilled workforce locally but also helps companies reduce their manpower costs significantly.
Textiles: Bihar is emerging as a key player in the textile industry, with a particular emphasis on technical textiles and sustainable fibres such as jute and bamboo.
Food Processing: Leveraging its agricultural strengths, including crops like bananas, makhana, and maize, Bihar offers vast opportunities for investment in the food processing industry.
General Manufacturing: The state is rapidly developing its manufacturing sector, providing ample opportunities for companies looking to expand their operations.
Several prominent industry leaders have expressed their support for Bihar’s initiatives and highlighted their positive experiences in the state. Companies like IBM Graphene Semiconductor, Superseva Global Services Private Limited, and HungerBox were also present, showcasing their interest in exploring opportunities in Bihar.
Smt. Bandana Preyasi, Secretary of the Department of Industries, emphasised the state’s investor-friendly approach: “Our priority is to facilitate a seamless investment process in Bihar. We have made significant strides in industrial policy reforms, land acquisition, and infrastructure development. The Investors’ Meet in Bengaluru highlighted these initiatives and showcased how Bihar is set to become the next major industrial hub.”
The Government of Bihar invites investors from Bengaluru and across India to participate in this Investors’ Meet and explore the vast potential Bihar offers. Attendees will gain valuable insights into Bihar’s industrial landscape, policy framework, and key investment sectors, along with opportunities for direct interaction with government officials and industry leaders. The Bihar Business Investors’ Meet was held today at ITC Windsor, Bengaluru. This exclusive event welcomed industry leaders, entrepreneurs, and investors who were eager to explore new opportunities in one of India’s fastest-growing states. The Bihar Government extends its heartfelt thanks and looks forward to welcoming future investors to events like this, which aim to unlock new avenues of growth and collaboration in Bihar.
