Bihar industries minister Shahnawaz Hussain inaugurating Bihar Craft Fair in Hyderabad on July 23, 2022.
Hyderabad, July 23: Bihar industries minister Syed Shahnawaz Hussain inaugurated Investors Meet at Rasisson Hotel here on Saturday. The meet witnessed participation from 60 prominent companies across various sectors such as IT, food processing, textile, pharmaceutical, agrotech and others. Nirmala Reddy, founder and MD, OHM groups, Bhaskar Reddy, ex-president, Federation of Telangana Chamber of Commerce and Industry, Khyati Nawarne, CEO, Federation of Telangana Chamber of Commerce and Industry and may other distinguished persons from different industries participated in the meet..
Inaugurating the meet, industries minister Hussain said, “Under the able leadership of Chief Minister Nitish Kumar the Bihar is poised to become the most preferred business & investment destination in India. The image of Bihar is getting transformed now. It’s a new Bihar determined and completely prepared, offering favourable ecosystem for businesses to set up and flourish. Bihar is laying down the red carpet to turn investors’ confidence into reality,”
He said, “Companies who are establishing in Bihar are receiving chivalrous welcome from our team. Entire government system under the leadership of our Chief Minister Nitish Kumar is very pro-active in supporting industries to establish in the state. During the last one-year various steps have been taken to encourage investors and accelerate setting up of more industrial units in Bihar. Bihar has received investment proposals worth Rs 39,000 crore”.
Bihar industries minister Syed Shahnawaz Hussain addressing Investors Meet in Hyderabad on July 23, 2022.
“There is an immense opportunity to invest in Bihar. We invite industries to partner with state government to participate in the state’s high growth trajectory.”
He said, “Investment proposals worth Rs 30,382 crore are related to ethanol production alone. The major investment Sectors are of food processing, health, agriculture, plastic & rubber and tourism. We have a large land pool of 2900 acres in different districts and complete hand holding support is being provided to the investors for setting up industrial units in Bihar by giving all clearances in a week’s time through single window clearance system”.
Recently a historic decision was made in the cabinet meeting to speed up industrialization in Bihar in which the land lease rates of industrial areas were reduced up to 80 per cent which is expected to further accelerate the pace of industrialization of Bihar, he added.
During the Investors’ Meet a state presentation was made for the potential investors on Investment opportunities in Bihar by the principal secretary, department of industries government of Bihar, Sandeep Poundrik, where the investment opportunities and the available infrastructure for industries was displayed to the business community. During the presentation he said that whether it is textile, manufacturing or even IT industry, a large chunk of manpower is from Bihar who is willing to return back to Bihar. Bihar government is acting in a proactive manner and taking all possible steps to make conducive climate here. Apart from the huge water resource, Bihar has strategic location advantage, which provides access to about 40 cr. market population. The population of Bihar is relatively young. We also have education institutional base to produce students with technical and managerial skills as per industry requirement. The land here is available at very affordable rates. We are also providing plug and play facility to investors.
Shahnawaz Hussain further added, “There is an immense opportunity to invest in Bihar. We invite industries to partner with state government to participate in the state’s high growth trajectory. The State has worked towards rapid infrastructural development happening in Bihar conducive for industry establishment through various government interventions, policy led reforms and ease of doing business”.
The minister also inaugurated Bihar Craft Fair at the same venue.
The Investors’ meet concluded with a Q&A session which was also organised between the senior officials from department of industries and potential investors.
