The Bihar government is enticing entrepreneurs from Bangladesh to invest in the state's textile sector at the upcoming 'Bihar Business Connect 2023' Global Investors' Summit. Taking place in Patna from December 13-14, 2023, the summit aims to present diverse investment opportunities across sectors such as leather, IT/ITeS and ESDM, food processing and hospitality, and tourism.
In a bid to attract investors, Bihar is offering an expansive 28 lakh sq. mt. of built-up area in these sectors. The government is also proposing a grant of Rs 25,000 per laborer for skill development, coupled with contributing Rs 3,000-5,000 to employers' contributions in EPFO for new textile and leather units. Subsidies in power charges are also on the table.
Bihar government is also extending invitations to investors from Japan, Taiwan, the UAE, and the US for the summit. To bolster this outreach, the state government has organized roadshows in major Indian cities like Delhi, Mumbai, Bengaluru, Tirupur, and Chandigarh, as well as internationally in the USA, UAE, Japan, and Bangladesh.
Bihar's GDP is set for a robust growth of 8.9 percent, reaching Rs 8.59 lakh crore in the fiscal year 2023-24.