‘Bihar GDP growing faster than national average’
NEW DELHI: In a bid to attract investments and promote industrial growth, the Bihar government has launched a unique initiative offering rental industrial sheds to investors. Under this ‘plug and play’ scheme, the government provides ready-to-use industrial sheds spanning 24 lakh square feet, eliminating the need for investors to purchase land for their businesses.
“… We have created about 24 lakh square feet of industrial sheds, which we are giving as a plug and play, which means you can come with only machines you don’t have to buy land and create buildings. This is only for the high priority sectors like textile, leather, IT and food processing and there has been a good response to this,” Sandeep Poundrik, additional principal secretary, Industry of Bihar, said while briefing the media during investors’ meet in the national capital.
Investors can now avail of industrial sheds at a monthly rental ranging from Rs 4 to Rs 8 per square foot. This initiative allows investors to focus solely on establishing machinery and commencing production, streamlining the setup process. The state is particularly seeking investments in sectors such as manufacturing, food processing, and textiles.
When asked how much investment commitment the state has received during road shows, Poundrik stated, “The response has been quite positive from many investors, they have shown interest. Many of them have also come to Bihar to get opportunities such as infrastructure, land etc and we have received commitments from many companies, however, we are going to sign agreements in the December summit when they will sign MOUs and commit their investments in writing,” The Bihar government is organizing the “Bihar Business Connect” global investment summit in Patna, the state capital, on December 13 and 14.
In addition, Poundrik stated said Bihar’s GDP is growing faster than the national average and the purchasing power is also growing. He further added that 17 units were sanctioned in the state by 5 PSUs, out of which 14 plants are coming up, representing an average investment of 200 crores each.
“This influx of approximately Rs 3000 crore in our ethanol sector marks a significant step towards Bihar’s vision of becoming the ethanol hub of India,” he added. He also updated that Vedanta is planning to set up a 50 MW solar power plant, and there are plans for two more solar plants in the near future.