Is Industrialisation the Key to Bihar’s Growth?
Synopsis
Key Takeaways
- Industrialisation is critical for Bihar’s economic growth.
- Significant progress has been made in infrastructure and industry.
- Bihar has ambitious plans to attract Rs 50 lakh crore in investments.
- Key initiatives include the establishment of new industrial parks and training programs.
- Efforts are in place to ensure local job availability for the youth.
Patna, Dec 6 (NationPress) Bihar's Chief Minister Nitish Kumar articulated on Saturday that the path to substantial economic advancement and job creation in the state hinges on large-scale industrialisation.
Presenting comprehensive data from his two-decade tenure, the Chief Minister noted remarkable strides in infrastructure and industry within Bihar.
In a post on his official X account, Kumar stated, "Large-scale industrialisation is pivotal for swift economic growth and employment generation in any region. The Bihar government has accomplished significant work in this regard."
According to Kumar, the transformation of Bihar’s industrial landscape between 2005 and 2025 has been profound.
He highlighted that the number of industrial areas grew from 46 to 94, industrial units from 1,674 to 3,500, export value surged from Rs 25 crore to Rs 17,000 crore, the number of MSMEs jumped from 72,000 to 3.5 million, and the contribution of industries to the GSDP soared from 5.4% to over 21%.
"These statistics demonstrate the government’s continuous efforts toward fostering industrial development," he remarked.
Kumar set forth the ambition for Bihar to be recognized among India’s top five investment-friendly states.
To achieve this, the Industries Department plans to hold investor conferences nationwide and internationally.
A strategic roadmap has been devised to attract Rs 50 lakh crore in investments over the forthcoming five years.
Key initiatives include enhancing the ease of doing business, establishing five new mega food parks, developing ten industrial parks and 100 MSME parks, training 700,000 individuals in industry-specific skills, creating a dedicated Directorate of MSMEs, and bolstering marketing and export capabilities for local products.
Under the Chief Minister’s Entrepreneurship Scheme, 44,073 entrepreneurs have benefited from incentives, aiding them in launching businesses and fostering local employment.
“To catalyze high-tech industrialisation, the state has constituted elite committees to expedite projects like the Defence Corridor, Semiconductor Manufacturing Park, global capability center, Mega Tech City, and Fintech City.
“We envision making Bihar a global back-end hub and workplace, with plans to broaden employment-oriented initiatives in startups and modern sectors,” he added.
The Chief Minister announced that the 1,700-acre Integrated Manufacturing Cluster (IMC) in Dobhi, Gaya, is nearing completion and will soon be inaugurated.
“Moreover, 31 new industrial parks will be established across 29 districts. These parks will span 14,036 acres, featuring ten sector-specific parks, including textile and pharma parks, with an expenditure of Rs 26,000 crore earmarked for swift industrial development,” Kumar mentioned.
Emphasizing advancements in connectivity and utilities, the Chief Minister noted that Bihar now boasts exceptional road, rail, and air connectivity, uninterrupted power supply, and robust law and order.
“We are determined to ensure that the youth of Bihar do not have to leave the state in search of employment," he concluded.