Bihar Set To Focus on Attracting Foreign Direct Investment: Industries Minister Nitish Mishra

Patna: Riding high on the success of the recent global investors' summit that saw investment proposals worth a staggering Rs 1.80 lakh crore, Bihar is now all set to focus on attracting foreign direct investment (FDI), Industries Minister, Nitish Mishra, said here on Monday.

Talking to reporters here at the state BJP office, Mishra said the Union Ministry of Commerce and Industry has the Foreign Investment Facilitation Portal (FIFP), which is the online single-point interface of the Government of India for investors to facilitate FDI.

"We (the Bihar government) are integrating our system with this national portal. Our government's focus is also to attract FDI in Bihar," he said.

"We are quite confident that the ecosystem that has been created after the recent global investors' summit 'Bihar Business Connect-2024', the state will witness large global giants investing in Bihar in the coming future," said the state industries minister.

The state government has signed investment commitments with 423 companies during the two-day summit.

The Bihar government signed MoUs to set up 423 units with an investment proposals of Rs 1,80,899 crore at the end of the two-day investors summit.

"We are overwhelmed with the response from corporates. It is beyond our expectations. We have received investment proposals of over Rs 1.8 lakh crore. Bihar is set to play an important role in becoming the growth engine of the country," the minister said.

Under the leadership of our respected Prime Minister, Narendra Modi, and Chief Minister, Nitish Kumar, the Bihar government has moved forward with the vision of a developed Bihar, he said.

"Now we are committed to ensuring conversion of all MoUs into investments on the ground. The government has already appointed sectors specific nodal officers for the purpose," Mishra said.

Further, to develop more industrial areas in the state, the state government has initiated the process of acquiring 10,000 acres of land for the purpose in the next financial year, the minister said.

Adani Group, Sun Petrochemicals and a host of other companies committed to investing a record Rs 1.81 lakh crore in Bihar, across sectors ranging from renewable energy to cement, food processing and manufacturing during the two-day global investors' summit 'Bihar Business Connect-2024', which concluded on December 20, in the state capital.

As per the MoUs signed by the investors with the state government, Sun Petrochemicals will invest Rs 36,700 crore in renewable energy projects including pump hydro and solar plants.

Adani Group, the largest private investor in the state, committed to investing about Rs 28,000 crore in setting up an ultra-supercritical thermal power plant as well as expanding cement production capacity, food processing and logistics businesses.

The maximum investment proposals have come in the renewable energy sector worth Rs 90,734 crore in 17 units. As many as 57 MoUs were signed in general manufacturing for Rs 55,888 crore, followed by the food processing sector for Rs 13,663 crore in 70 units.

Besides, 142 MoUs were signed in urban infrastructure with investment proposals of Rs 5,566 crore. 

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