Finance & Economy | News & Insights

Bihar Global Investors’ Summit Expects Investments of Rs 40,000 Crore

Published: December 15, 2023
Author: TANVI_MUNJAL

The Bihar Global Investors’ Summit commenced on Wednesday, with high expectations of attracting investments amounting to Rs40,000 crore. Sources inform that the summit has already received investment proposals of Rs34,000 crore, and it hopes to reach the target by the end of the two-day event. Representatives from 16 countries, including the US, Taiwan, Japan, and Germany, are expected to attend the summit, along with domestic investors.

The summit aims to finalize 40 Memorandums of Understanding (MoUs) between the state and the investors, with 10 MoUs anticipated from global investors. Priority sectors for investment in the state over the next two years include food processing, textiles, leather, and IT. However, an anonymous source highlights that implementing these projects will pose the biggest challenge for the state, indicating a gap in reality on the ground.

Industries Minister Samir Kumar Mahaseth stated that the event will see the participation of 600 delegates, including prominent Indian business groups like Adani Group, Godrej Group, and Britannia. The Bihar Business Connect-2023 aims to present the state as an attractive global investment destination, showcasing its advantages in critical sectors such as textiles, food processing, IT, and biofuel. The state has also introduced policies that offer support and incentives to potential investors. The summit will conclude with the attendance of Chief Minister Nitish Kumar.

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