Investment proposals at Bihar biz summit will surpass last year's Rs 50K cr State industries minister

New Delhi, Nov 24 (PTI) Bihar Industries Minister Nitish Mishra on Sunday said the upcoming global business summit in Patna will be a huge success and attract more investment proposals than about Rs 50,000 crore it received in the 2023 edition.
     The second edition of 'Bihar Business Connect' will be held from December 19-20, 2024 in Patna.
     "Last year, we received investment proposals of around Rs 50,000 crore. I am very much confident that this year we will get more investment proposals," Mishra told reporters in the national capital.
     He said the upcoming investors' meet will lead to the start of a new industrial era in Bihar.
     The last edition of the investor meeting in 2023 saw several memoranda of understanding (MoUs) being signed for proposed investment of Rs 50,500 crore by as many as 278 companies.
     Mishra highlighted that most of the investment proposals received in the 2023 edition have been implemented and the rest will be executed soon.
     A state government official noted that investment proposals worth Rs 38,000 crore have already been grounded.
     Elaborating further, Mishra said there was a notion that Bihar cannot attract big ticket investments, but perceptions have changed and investors are coming now.
     He said there is a huge opportunity of investment across all major sectors, including food processing, textiles, and tourism.
     "There is an environment for huge investment in Bihar," Mishra, who is also the tourism minister of the state, said.
     Speaking to PTI Video, Mishra said, "Bihar Business Connect is an annual investors' meet, where we are contacting, approaching and inviting all the companies which are interested or which might have interest in expansion or setting up a new unit in Bihar."
     The focus will not only be on the investment amount but also capability of employment generation, he said.
     "We will be showcasing our existing policies, and the advantage Bihar, so it's a big platform which is scheduled on 19th and 20th of December."
     Mishra said the state government is inviting different embassies to this event.
     "...there are several departments which have the potential of bringing investment to Bihar. So this is a major, a big investors meet, where we would be showcasing Bihar, all our policies, and why one should be interested in or why one should invest in Bihar."
     "We are confident that the Bihar Business Connect 2024 will be one of the biggest events which Bihar ever had," Mishra said.
     To attract investors and promote this event, he said many roadshows have been held across India, including in Delhi, Mumbai, Kolkata, Ludhiana, and Kanpur.
     More roadshows are planned before the mega Bihar Business Connect meet.
     A state government official said the law and order situation has improved in Bihar, and the same is being reflected in interest shown by investors during the 2023 edition.
     On Sunday, Rajya Sabha Deputy Chairman Harivansh and Nitish Mishra inaugurated Bihar Pavilion at India International Trade Fair 2024 in Delhi.
     In the Bihar Pavilion, he said the development work done by the chief minister Nitish Kumar in the last two decades is being showcased.
     The Bihar Pavilion at the 43rd International Trade Fair, being held at Pragati Maidan from November 14-27, 2024, is based on the theme of 'Viksit Bihar@2047'.
     The pavilion represents the state's vision for development, culture, and heritage.
     At the press conference, Mishra talked about the pavilion's vision, the state's development plans and growth rate.
     "Bihar has been able to maintain a more than 8 per cent growth rate since 2006. The state received more than Rs 5,400 crore worth of investment from April to November 2024," he said.
     "We have started attracting investments because of the improved infrastructure as well as the sectoral and industrial policies," Mishra added.
     The pavilion features 75 stalls showcasing Bihar's renowned handloom, khadi, and handicrafts.
     Visitors can explore treasures like Bhagalpuri silk, Madhubani paintings from Mithila, Tikuli art from Patna, and Babban Booti of Nalanda.
     The pavilion's architectural design draws inspiration from Bihar's rich history and culture.
     The grand entrance, styled as the "Sabhyata Dwar", highlights the pavilion's logo symbolising development across five sectors: art and culture, industry, tourism, women empowerment, and social progress.
     A focal point is the Bihar Museum, complemented by 3D paintings of the modern Nalanda University and the Buddha Bridge, alongside walls adorned with Madhubani, Manjusha and Tikuli art by Padma Shri awardees.

(This story has not been edited by THE WEEK and is auto-generated from PTI)