Bihar Targets Rs 4,000 Crore IT Investment by March 2025 Amid Reverse Brain Drain
Patna: Bihar’s Information Technology sector received a major boost as over 30 companies expressed their intention to invest ₹1,500 crore in the state since the rollout of the Bihar IT Policy 2024. At the IT Conclave held at Hotel Maurya, Patna, on Friday, additional investment proposals worth ₹470 crore were announced, showcasing a growing interest from IT companies in the region.
The event, organized by the Department of Information Technology in collaboration with the Indian Chamber of Commerce (ICC), saw the highest individual investment proposal of ₹300 crore coming from Holoware Software Company.
Special Secretary of the Department of Information Technology, Arvind Kumar Chaudhary, emphasized the opportunities presented by the Bihar IT Policy 2024, urging IT companies to capitalize on the favorable policies. He highlighted the state’s efforts in creating a conducive environment for businesses, including the implementation of a purchase preference policy.
The government has introduced excellent policies like the Bihar Industrial Policy, Textile and Leather Policy, and Bihar Start-Up Policy, addressing key demands of the business community. Now, it’s up to the business community to contribute by investing significantly in the state, said Chaudhary.
He called upon IT companies to achieve an investment target of ₹4,000 crore in Bihar by March 2025, stressing that Bihar is experiencing a reverse brain drain, with talent returning to the state due to improved opportunities and infrastructure.
ICC Bihar Chairman Prabhat Kumar Sinha noted Bihar’s youthful demographic advantage, stating, that if India is the youngest country, Bihar is the youngest state. The reverse brain drain marks a significant shift in the state’s development trajectory.
Other speakers at the conclave included C-DAC Director Aditya Sinha, Holoware CEO Ragavendra Ganesh S, Bihar Hotels Limited Managing Director SP Sinha, Bicentriqe CEO Alakh Verma, and IT consultant Ritesh Anand, who lauded Bihar’s proactive approach to fostering IT growth.
The conclave also shed light on the diverse roles played by IT companies, including:
- Software Development: Creating mobile apps, web applications, and desktop software.
- Hardware Development: Building computers, servers, and networking equipment.
- Networking and Cybersecurity: Offering secure networking solutions and managing cybersecurity software.
- Data Analytics and Business Intelligence: Analyzing data to help businesses make informed decisions.
- Cloud Computing and Managed Services: Providing server and network management through cloud platforms.
- E-commerce and Digital Marketing: Developing e-commerce platforms and offering services like SEO and paid advertising.
- IT Consulting and Outsourcing: Delivering project management and strategic IT planning solutions.
The conclave concluded with an appeal to the IT sector to leverage Bihar’s policy-driven support and dynamic ecosystem for further growth, aiming to make the state a new hub for technology and innovation.
