Patna: Bihar`s new NDA government faces an uphill task of attracting industrial investments to the state for implementing its poll promise of creating one crore jobs in the next five years.
Bihar industries minister Dilip Kumar Jaiswal said that his department would organise a consultants' meet along the lines of an investors' meet. The consultants' meet is expected to be held in Patna next month. Consultants having expertise in preparing investment proposals for large entrepreneurs across the country will participate in the meet.
Bihar faces multiple challenges that hold back its speedy industrialisation like low level urbanisation (12.4 percent), poor growth of manufacturing sector (5-6 percent of the SGDP) and youth unemployment (16.7 percent).
There is also a growing perception in the power corridors that strong policies, infrastructure, and attractive incentives could transform Bihar into a new industrial hub.
State industries minister has also held a high level meeting with departmental officials and the investment promotion team. He said that the state government's main objective was to create employment opportunities for the youth and curb migration.
He asserted that the industrial policy in Bihar had been made simple and investor-friendly so that industries could receive quick approvals and facilities. State government will focus on some key sectors for attracting investments. These include agro-based industries and food processing, manufacturing and logistics, green energy, modern technology, and startups. The government believes that investment in these sectors will create significant local employment opportunities.
The government also claims that investors will receive policy stability, simplified procedures, economic incentives, and infrastructure support.
Jaiswal said that Ashok Leyland had proposed to set up an electric bus manufacturing unit, which would propel Bihar forward in the direction of green transportation. Similarly, the beverage industry giant Coca-Cola is also preparing to set up a new bottling plant in the state. Multispecialty hospitals are also planning to establish state-of-the-art facilities like robotic surgery. Plans are also underway for 25 new sugar mills and methanol/ethanol plants, which will bring significant benefits to sugarcane farmers.
