Bihar’s Rs 52,000 Crore Investment Push: Nitish Kumar to Address Key Industrialists in Mumbai

Patna: Bihar Chief Minister Nitish Kumar is set to attend the Bihar Business Summit in Mumbai on 13th September, where he will engage with leading industrialists from across the country. The summit aims to attract significant investments to Bihar, as the state seeks to position itself as an emerging industrial hub.

During a press conference in Patna, Bihar’s Industry Minister Nitish Mishra highlighted the state’s efforts to promote large-scale industrial development. “We are hosting this summit in Mumbai to encourage big industries to invest in Bihar. This is a key initiative in our long-term plan to drive economic growth,” Mishra said.

Bihar’s drive for industrial growth began with the Global Investors Summit, held at Gyan Bhavan in Patna in December 2023. At the event, Memorandums of Understanding (MoUs) for investments totaling ₹52,000 crores were signed, marking a major step forward in the state’s industrial journey. Since then, work has commenced on projects amounting to ₹36,000 crores.

“The effects of these investments will start to become evident within the next 12 to 16 months,” Mishra stated. “Bihar’s largest industrial area is being developed in Gaya, which will be directly connected to 10 neighboring states, significantly boosting trade and industrial connectivity.”

The Industry Minister further revealed that out of 278 companies that signed MoUs with the Bihar government, 236 have initiated their investments, and 132 companies have already started production. A total investment of ₹36,000 crores is underway, which is expected to provide a substantial boost to the state’s economy. Over the next two years, the Industry Department aims to provide direct employment to 1,40,571 people.

“The creation of Bihar’s largest industrial area in Gaya will result in 10 lakh direct jobs and 20 lakh indirect jobs,” Mishra announced. The central government has committed to investing ₹28,000 crores in infrastructure development to support this initiative.

While Bihar is making significant strides in industrial development, there are still seven districts—Arwal, Jamui, Kaimur, Saran, Sheohar, Sheikhpura, and Banka—that currently lack industrial areas. However, plans are underway to develop industrial zones in these districts to ensure balanced growth across the state. Additionally, the government plans to expand existing industrial areas and establish entrepreneurship development centers in each of Bihar’s 101 subdivisions.

The Bihar Business Summit in Mumbai is expected to be a pivotal event for the state, attracting new investors and showcasing the state’s commitment to industrial and economic growth. With major infrastructure developments and industrial projects on the horizon, Bihar is positioning itself as a key player in India’s industrial landscape.