The Department of Industries, Government of Bihar, hosted the Bihar Business Connect 2024 Investors' Meet in Delhi on Friday, serving as a precursor to the much-anticipated Bihar Business Connect 2024 Global Investors' Summit. The Minister of Textiles, Government of India, Giriraj Singh, and Minister for Industries and Tourism, Government of Bihar, Nitish Mishra, attended the event.
The Investors Meet showcased Bihar's extensive potential across various sectors, aiming to attract investments and create employment opportunities. Discussions centred on industry trends, emerging technologies, and government initiatives designed to support textile development in the state.
The key focus areas of the event included textile development, highlighting government initiatives and industry trends; industry growth, with an exploration of opportunities in food processing, IT, and manufacturing; and investment opportunities, showcasing Bihar's potential as an emerging investment destination.
The event drew more than 100 participants from various industrial sectors. The textile sector was represented by Rajesh Gupta, Managing Director of RMP FAB, and Lalit Gulati, Managing Director of Modelama. Prominent figures from the food processing sector included Sanjeev Asthana, CEO of Patanjali; Sanjay Singhania, VP of Haldiram; and representatives from HMA AGRO INDUSTRY. The IT sector was represented by participants from CG Power and Industrial Solutions Ltd., Modern Transformer, and NASSCOM (National Association of Software and Service Companies).
Giriraj Singh, Minister of Textiles for the Government of India, and Nitish Mishra, Minister of Industries and Tourism for the Government of Bihar, also attended the event. Key government officials joined them, including Bandana Preyashi, Secretary; Alok Ranjan Ghosh, Director of Industries; and Ravi Prakash, Director of Food Processing.
Speaking at the meeting, Nitish Mishra said, “Contrary to prevailing perceptions, Bihar is poised to become the growth engine of India. Our growth story is unfolding, and we invite you to be a part of it.”
The Secretary of the Department of Industries, Bandana Preyashi, remarked, “Bihar story is known to few and unknown to most, Bihar is rapidly emerging as a promising investment destination, shattering its erstwhile reputation. Since BBC 2023, the state has impressively converted 38,000 Memorandums of Understanding (MOUs) into tangible groundwork, showcasing its commitment to growth. With its vast market potential and strategic location, Bihar is poised to become a hub for industrial development. The state boasts excellent connectivity, thanks to the upcoming industrial corridors, including the Delhi Mumbai Industrial Corridor and the Amritsar Kolkata Industrial Corridor.”
Giriraj Singh added: “Bihar's strategic location and infrastructure make it an attractive destination for investors, particularly in the textile sector, which is poised to become India's second-largest industry after agriculture. By 2030, the goal is to create a $350 billion textile market in India, achievable through collaborative efforts.”