Over 40 Companies Pledge Rs. 4,000 Crore Investment in Bihar’s IT Sector

Patna: The first day of the ‘Bihar Business Connect – Global Investor Summit’ witnessed over 40 companies expressing interest in investing Rs. 4,000 crore in the state’s IT sector. Following the introduction of the Bihar IT Policy 2024, national and international companies are showing significant interest in tapping into the state’s growing IT ecosystem. Companies like Jay Shree Technologies (Holoware), SuperSeva, Excel Dot, and ABPL signed Memorandums of Understanding (MOUs) with the IT Department during the event.

Speaking at the event, IT Minister Santosh Kumar Suman highlighted the digital transformation happening in Bihar. He stated that initiatives such as the Bihar State Data Center and Digital Bihar are enhancing connectivity and e-governance, making the state an attractive destination for IT firms and startups. He also emphasized that Bihar offers one of the lowest operational costs compared to metro cities, benefiting businesses in terms of reduced expenses for office space, talent acquisition, and daily operations.

IT Department Secretary Abhay Kumar Singh presented the Bihar IT Policy 2024, outlining the state’s investor-friendly measures. He announced that companies investing Rs. 100 crore in the IT sector would be eligible for Rs. 70 crore in incentives, the highest offered by any state. He also mentioned that 10 lakh square feet of office space is available, and a substantial pool of skilled IT professionals is eager to contribute to the state’s growth.

The summit hosted a panel discussion on “Fostering Synergies: Building a Vibrant IT/ITES and ESDM Ecosystem in Bihar.” Key participants included Arvind Kumar Chaudhary, Special Secretary of the IT Department; Som Satsangi, CEO of HP; Mayank C. and Preet Sandhu from ABPL; Raghavendra Ganesh from HelloWare; Sameer Jain of Primers Partners; and Siddharth Reddy, Global Market Head at CTRLs.

The participants discussed strategies to build a robust IT infrastructure and promote innovation in the state. They noted Bihar’s potential to become a hub for IT/ITES and ESDM industries, leveraging its policies, cost advantages, and a vast talent pool.

Over 200 representatives from various companies attended the event, exploring opportunities for collaboration and investment. The success of the summit’s first day reflects the growing confidence of investors in Bihar’s ability to support and nurture a thriving IT ecosystem.

This event marks a significant step in Bihar’s journey to establish itself as a competitive player in the national and global IT sectors. With the momentum generated by this summit, the state is poised to attract further investments and create numerous opportunities for growth and employment.