Bihar Business Connect 2024 would bring Rs 1.80 lakh crore investment in Bihar to boost industry.

Patna December 20, 2024: The Bihar Business Connect 2024 is shaping up to be a transformative event for the state’s industrial development.

With investment commitments exceeding Rs. 1.80 lakh crore, this two-day event at Gyan Bhawan. Patna is attracting a significant number of investors and global attention.

Over 350 companies have shown interest in investment during Bihar Business Connect 2024:

According to an official, over 350 companies have confirmed their interest in investment in Bihar. 

Major investments include Rs. 36,400 crore from Sun Petrochemicals and RS.5,500 crore from NHPC, Coca Cola Rs 3000 crore, Shree Cement Rs 800 crore and Haldiram Rs 300 crore. They have signed the MoU with the Bihar government.

The officials said that Investors from 80 countries are participating in this event.

Foxconn, the iPhone manufacturer, has expressed interest in investing in Bihar, inducting a promising future for high-tech manufacturing in the state.

The Bihar government is expecting twice the number of investors compared to the previous year to sign MoUs in Bihar Business Connect 2024.

Major industrial houses may invest in Bihar:

The official said that discussions are underway with major industry players including Sun Petrochemicals, Ankur Biochem, Captain Steel, Shree Cement, Birla Cement, JK Cement, Dalmia Cement Haldiram, Supreme Group, and Adani. MoUs with these companies are expected to be signed by the end of Bihar Business Connect 2024.

Officials are also expecting investment in textile, leather industry, military footwear, ethanol plants and food processing units. Prominent firms like Ankur Biochem, Captain Steel, Shree Cement, Birla Cement, JK Cement, and Dalmia Cement are in talks to sign MoUs.

The second day of Bihar Business Connect 2024 will feature a CEO round table meeting, bringing together ministers, senior government officials, and top industrialists to deliberate on Bihar’s industrial strategy and policy framework. This session will culminate in the signing of key MoUs.

This event signifies a historic moment, highlighting Bihar’s rapid industrial growth and emergence as a key destination for investors.

“The Bihar government is committed to transforming the state into an industrial hub by creating a conducive environment for businesses, emphasizing policies that support sustainable development and economic diversification.”

“During the last year, many investors have signed the MoU with the Bihar government and we have a 74% conversion rate from MoU to investment. Whatever we have discussed on day one was satisfactory and we are expecting great investment,” Mishra said.

Also Read: Bihar government signed Rs. 2,181 crores in an Investor Meet to boost the food processing sector.

EOM.