Bihar sees over 3,800 industrial investment proposals, fueling rapid growth and development

Bihar has received more than 3,800 proposals for setting up factories since launching its Industrial Investment Promotion Policy in 2016, a major factor driving the state’s rapid industrial development, according to Chief Secretary Amrit Lal Meena.

The Bihar Industrial Investment Promotion Policy, 2016, offers a variety of incentives, including interest subvention, state GST reimbursement, stamp duty waivers, export subsidies, and concessions on transportation, power, and land fees. In addition, a State Investment Promotion Board was established to review and approve investment proposals, further simplifying the process for investors.

Also ReadMukesh Ambani appoints Ira Bindra as Group President for HR at Reliance   

 Amrit Lal Meena said, “From 2016 till now, in the last nine years, there has been a massive response from the industry because of the promotional policy, and subsequently, sectoral policies have been approved by the government. So, from different sectors, there are over 3,800 proposals for consideration of a state industrial promotion board and 3,100 proposals have been accorded first-stage approval,”

Also Read Mukesh Ambani appoints Ira Bindra as Group President for HR at Reliance    Shorter furloughs, weak Rupee may aid IT firms margins in Q3 Swiggy launches Scenes to take on Zomato’s District Switzerland Withdraws MFN Status from India: What It Means for Indian Businesses

Meena also highlighted that Bihar has attracted investments worth Rs 8,000 crore, with key sectors including food processing, textiles, manufacturing, renewable energy, IT, and cement. To support this growth, the state has created a land bank of over 3,000 acres and offers about 2.4 million square feet of ready-to-use, plug-and-play industrial sheds equipped with essential infrastructure. These facilities are available for industries at fixed rates.

The Bihar Industrial Area Development Authority (BIADA) oversees the allocation of land, and industrialists can apply through an online portal for quick and efficient land allotment at reasonable rates.This approach has contributed significantly to making the state more attractive to investors.

Also ReadShorter furloughs, weak Rupee may aid IT firms margins in Q3

Bihar’s single-window clearance system further streamlines the approval and disbursement of incentives, and regular interactions between the Chief Minister and industrialists help address any challenges promptly. 

Meena added,“The Chief minister has started interaction at the highest level in the government through organising Udhami Panchayat. So,

 » Read More

Related Articles

Tracking buzzing stocks: JSW Steel, ITC among top gainers; Bajaj Finserv, HDFC Life Among the Top Losers on December 23 – Check complete list...

Indian benchmark equity indices BSE Sensex and Nifty 50 ended the day on a green note (December 23). The BSE Sensex ended the day at 78,540.17, up by 478.58 points or 0.64 per cent, while the NSE Nifty ended at 23,753.45, gaining 165.95 points or 0.7 per cent. The Nifty Bank index also ended on

NACDAC Infrastructure IPO GMP Rises Over 142%: What’s driving the upmove?

NACDAC Infrastructure IPO, which ran its subscription from December 17 to December 19, is all set to make its debut on the BSE SME platform tomorrow, December 24. The IPO, which captured investor interest during its three day process with record-breaking subscription figures, is now generating buzz in the grey market with a sharply rising

NSE, BSE to remain OPEN on February 1, 2025 – Budget Day

Indian equity markets are to remain open on February 1 – Budget Day – on account of the the Union Budget 2025-26 presentation. This will be a special trading session by the exchanges. The announcement is very important as February 1 is on Saturday. Normally, the markets are shut on weekends. However, as the Budget

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Tracking buzzing stocks: JSW Steel, ITC among top gainers; Bajaj Finserv, HDFC Life Among the Top Losers on December 23 – Check complete list...

Indian benchmark equity indices BSE Sensex and Nifty 50 ended the day on a green note (December 23). The BSE Sensex ended the day at 78,540.17, up by 478.58 points or 0.64 per cent, while the NSE Nifty ended at 23,753.45, gaining 165.95 points or 0.7 per cent. The Nifty Bank index also ended on

NACDAC Infrastructure IPO GMP Rises Over 142%: What’s driving the upmove?

NACDAC Infrastructure IPO, which ran its subscription from December 17 to December 19, is all set to make its debut on the BSE SME platform tomorrow, December 24. The IPO, which captured investor interest during its three day process with record-breaking subscription figures, is now generating buzz in the grey market with a sharply rising

NSE, BSE to remain OPEN on February 1, 2025 – Budget Day

Indian equity markets are to remain open on February 1 – Budget Day – on account of the the Union Budget 2025-26 presentation. This will be a special trading session by the exchanges. The announcement is very important as February 1 is on Saturday. Normally, the markets are shut on weekends. However, as the Budget

KCC Scheme: Get up to Rs 3 lakh loan at just 4% interest rate with this credit card! Here’s how to apply

Kisan Credit Card Scheme: The Kisan Credit Card (KCC) scheme was launched to cater to the financial needs of farmers at different stages of farming. It provides a streamlined credit support system through banks, ensuring timely and adequate financial assistance under a single-window approach. The KCC scheme simplifies the loan process, offering farmers a flexible

Get more interest money on EPF claim; interest will be paid up to the date of final settlement

Members of Employees’ Provident Fund (EPF) will now get more money as the interest on the accumulated balance will be paid to them up to the date of final settlement. At present, for final claims settled till the 24th of the month, interest is paid only up to the end of the preceding month causing