Bihar Government Anticipates MoUs Worth ₹1 Lakh Crore at Business Connect Event
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Patna, Dec 20 (NationPress) The Bihar government is projecting the signing of MoUs valued at approximately ₹1 lakh crore during the second day of the 'Bihar Business Connect 2024' event on Friday.
Officials have reported that about 350 companies have confirmed their plans to invest in Bihar and will be signing MoUs.
Currently, over 815 leading investors have taken part in the event, reflecting an increasing confidence in the investment opportunities within Bihar.
The most significant investment announcement comes from Sun Petrochemicals, which has committed ₹20,000 crore.
The National Hydroelectric Power Corporation (NTPC) is also set to invest ₹5,500 crore in the state.
In a promising sign for high-tech sectors, the world-renowned iPhone manufacturer Foxconn has shown interest in investing in Bihar.
An official noted that the number of investors and investment proposals has increased twofold compared to the previous year, indicating a surge in industrial activity.
Investment agreements exceeding ₹1 lakh crore are anticipated to be finalized at this event, marking a crucial milestone in Bihar's economic growth trajectory.
Active negotiations are ongoing with several major industry players, including Sun Petrochemicals, Ankur Biochem, Captain Steel, Shree Cement, Birla Cement, JK Cement, Dalmia Cement, Haldiram, Supreme Group, and Adani.
Agreements with these firms are expected to be finalized by the event's conclusion.
The second day will feature a CEO round table meeting that will convene ministers, senior government officials, and top business leaders to discuss Bihar's industrial strategy and policy framework.
The two-day event is taking place at Gyan Bhawan in Patna, with the second day serving as the conclusion of this significant gathering.
Presentations highlighting Bihar's industrial potential and policy framework are being displayed to emphasize the state's growth opportunities and the rapid advancements in textile clusters, bag manufacturing, and military footwear exports.
Nitish Mishra, the industry minister of the Bihar government, stated, “Our government is dedicated to transforming Bihar into an industrial powerhouse by fostering a supportive ecosystem for businesses, focusing on policies that promote sustainable development and economic diversification.”
“The final count of MoUs will be disclosed at the end of the event, but our discussions on the first day were fruitful for us,” Mishra remarked.
