Bihar Business Connect 2024: Ambassadors’ Meet In Delhi strengthens global investment ties
New Delhi : The Department of Industries, Government of Bihar, successfully hosted the much-anticipated Bihar Business Connect 2024 – Ambassadors’ Meet at Hotel Taj Mahal, New Delhi. This event marked a significant step in showcasing Bihar's strategic initiatives, reforms and investment opportunities to a global audience as a precursor to the Global Investors’ Summit, scheduled for December 19-20, 2024, in Patna.
The event was graced by Shri Samrat Chaudhary, Hon’ble Deputy Chief Minister-cum-Finance Minister of Bihar, and featured dignitaries like Shri Nitish Mishra, Industry cum Tourism Minister, Bihar Govt, Shri Amrit Lal Meena, Chief Secretary, Govt of Bihar, Smt. Bandana Preyashi, Secretary of the Industries Department, Shri Abhay Kumar Singh, Secretary, IT Department, Government of Bihar, Shri Kundan Kumar, Resident Commissioner , Govt of Bihar and Shri Jaideep Ahuja, Chairman, CII Delhi Chapter, among other senior officials. Foreign guests present at the event included Mr. David Pasquini, Commercial Officer of the US Embassy, Mr. Nguyen Thanh Hai, Ambassador, Embassy of the Socialist Republic of Vietnam, Mr. Mariano Agustin Caucino, Ambassador, Embassy of the Argentine Republic, and Mr. Josel Francisco Ignacio, Ambassador, Embassy of the Philippines, alongside prominent trade bodies such as the Indo-German Chamber of Commerce, TPCI, FIEO, AEPC, US-India Business Council, and UK-India Business Council. The roadshow observed diplomats from around 30 foreign missions in India, along with significant presence of international trade associations and trade promotion bodies.
Shri Samrat Chaudhary highlighted Bihar's rapid strides in industrial development and sustainability and said, "Policy, population, and water make Bihar special. Here we are working on policies which are sector specific like leather, IT, start-up, etc. Our population is our strength. This not only makes Bihar a big market but also an epicentre for human resources. Abundance of water makes the land of Bihar superior in terms of production. In the coming days, more positive changes will be seen in Bihar, which will definitely make the state more favourable for investment."
Shri Nitish Mishra emphasised the state's untapped potential, saying, "All the facilities required for investment anywhere are present on a large scale in Bihar. Here land, infrastructure, connectivity, electricity, water, human resources and market are all available, which makes Bihar investment friendly. Today, as we are working to achieve the goal of Viksit Bharat@2047, it becomes necessary that we take advantage of the immense opportunities available in Bihar."
Shri Amrit Lal Meena emphasised on the statistics that define Bihar as the hub of investors and said, “Bihar is a complete turnaround story. The ease of doing business is the focal point of Bihar. There is massive focus on agriculture where production has gone up exponentially. Our CAGR of per capita power consumption is 16%, which is the highest in the country, and now there’s complete focus on renewal energy. Data consumption has gone up by 2000%, which talks about the growing economy. With aspiring youth, Bihar is clearly the future.”
Reaffirming Bihar as a premier global investment destination, Smt. Bandana Preyashi said, “Bihar is fast emerging as an industrial land, where both small and big investors are investing. Almost 100 percent electricity, huge market, abundant water, friendly policies and better infrastructure are some of the aspects that make Bihar investment-friendly and attracts investors. We are continuously working to improvise and bring sector specific policies. We are also making the path easier for investors by providing various types of incentives, such as capital investment subsidy, export subsidy, and interest subvention.”
Mr. Rajneet Kohli, CEO, Britannia Industries, who has two manufacturing plants in Bihar, said, “Bihar, with its growing population of 140 million, offers a captive market for our products. The state's robust GDP growth, second-highest in the nation, further fuels our expansion. We've created over 3,000 jobs and reached 7,500 villages, establishing 1,000+ rural outlets and 55,000+ urban outlets.”
Mr. Kamal Oswal, Managing Director, Nahar Group, mentioned while addressing the other dignitaries, “We're starting our new Logistics Park in Bihar, a massive 1 million square foot facility. This US$15 million investment will generate 4,000 jobs, making it one of India's largest logistics hubs. Our experience in Bihar has been exceptional, with all approvals processed swiftly and efficiently, unlike any other state we've invested in.”
Highlighting the strategic investment opportunities in Bihar in his opening remarks, Shri Jaideep Ahuja, Chairman, CII Delhi Chapter, stated, “We stand on the threshold of tremendous opportunity, a vision to foster partnerships and open new doors for investments in the vibrant dynamic state of Bihar. Bihar growth story is one of resilience, transformation and promise. The state has established itself as a promising hub for investments and industries, and I am delighted to witness the momentum that is building in the collaborative spirit that defines today’s economic environment.”
The meet provided a platform to spotlight Bihar's advancements in ease of doing business, sustainable industrial practices and sector-specific growth strategies. Presentations by various departmental secretaries, including IT, Labour, and Power, highlighted initiatives tailored to attract domestic and international investors. A key highlight of the evening was the interactive discussions with foreign delegations and industry leaders, focusing on expanding trade relations, fostering bilateral collaborations and aligning global expertise with Bihar's growth trajectory.
Talking about the thriving investment and business opportunities in Bihar, Mr David Pasquini, Commercial Officer (Dept of Commerce), Embassy of the US, said, “It’s good time to be here in India and do trade. Companies want to spend time and make long-term investments. It’s some excellent insights that we got from all the presentations here. We are happy to work with you and bring our delegations. Bihar is a good nexus for US and India to work together and bring about revolutionary change in the industrial sector.”
The Ambassadors’ Meet successfully laid the groundwork for the upcoming Global Investors’ Summit 2024 in Patna, reinforcing Bihar’s status as an attractive destination for global business and investment. This initiative reflects the state’s unwavering commitment to creating a progressive, inclusive, and investor-centric industrial landscape.
