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Bihar Secures ₹1 Lakh Crore Investment at Business Connect-2024, State Ready to Take a Leap?

Launched in 2023, the Bihar Business Connect has become a significant platform to promote industrial and entrepreneurial development in the state.

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Neha Kumari
New Update
Bihar

The two-day Bihar Business Connect-2024 kicked off at Gyan Bhawan, Patna, attracting 815 major investors and witnessing confirmed investments exceeding ₹1 lakh crore. On Friday, multiple Memorandums of Understanding (MOUs) will be signed in the presence of Chief Minister Nitish Kumar.

This year’s event is marked by the largest single investment commitment of ₹20,000 crore from Sun Petrochemicals. Additionally, NHPC plans to invest ₹5,500 crore in the state. NHPC CMD Raj Kumar Chaudhary stated, “We are signing an MOU for ₹5,500 crore in Bihar.”

Global and Domestic Companies Express Interest

Talks are underway with Foxconn, the iPhone manufacturing giant, which has expressed interest in investing in Bihar. Other major players like Ankur Biochem, Captain Steel, Shree Cement, Birla Cement, JK Cement, Dalmia Cement, Haldiram, Supreme Group, and Adani are also in discussions. MOUs with these companies are expected to be signed on Friday.

Bihar’s Industrial Vision

Addressing the summit, Deputy Chief Minister Samrat Chaudhary highlighted Bihar’s readiness for growth, pointing out improved flood management. He remarked, “Earlier, water from Nepal caused massive destruction in Bihar. This year, despite Nepal releasing 6.5 lakh cusecs of water, no district faced severe flooding.”

Chaudhary also announced plans for building five large dams to further mitigate flood risks and enhance water resource management. He added, “Bihar is also the largest producer of maize, and we aim to expand in multiple sectors through this global summit.”

MOU Signing and Strategic Discussions

On the second day, a CEO roundtable will be held, featuring ministers, officials, and top industrialists. The event will culminate with the signing of key MOUs under CM Nitish Kumar’s leadership, accompanied by a presentation showcasing Bihar’s industrial potential and policy framework.

Launched in 2023, the Bihar Business Connect has become a significant platform to promote industrial and entrepreneurial development in the state. The inaugural edition saw participation from over 600 entrepreneurs, setting the stage for Bihar’s economic transformation.

Bihar