Invest Bihar Summit – Economic Growth, Infrastructure Development

The Invest Bihar summit took place on December 13 and 14, 2023 in Patna at Gyan Bhawan, it was organized by the Industries Department of Bihar. Over 600 investors from India and 15 other countries took part, to get more details about it.

Invest Bihar Summit 

In the Bihar Business Summit held on 13 and 14 Dec 2023, the Memorandums of Understanding (MoUs) were signed between the Government of Bihar and a total of 278 companies for ₹50,500 crore proposed investments in various sectors, which is likely to help to produce more and more jobs within the state.

Other than MoUs, the Adani Group also expressed its commitment to invest an extra Rs 8,700 crore in different sectors, the additional investment covers areas such as cement manufacturing, logistics, and the agro-industry, the organization has already invested ₹850 crores, which already have given a boost to Bihar’s economy.

Bihar Summit Investment Amount

Through the Invest Bihar Summit, the state secured an investment of ₹50,530.42 crore across diverse sectors, attracting 278 investors. Get the sectors and respective investment details from below.

  • General Manufacturing: 99 investors, ₹31,394.14 crore
  • Food Processing: 124 investors, ₹14,564.11 crore
  • Services: 30 investors, ₹3,179.81 crore
  • IT & ITeS: 8 investors, ₹717.55 crore
  • Textile & Leather: 17 investors, ₹674.81 crore

Major companies who agreed for investment in Bihar for boosting the State’s economy are as follows:

  • Adani Group
  • Bharat Petroleum
  • Patel Agri Industries
  • Holtech International Inc.
  • Indo European Heart Hospital
  • Dev India Project
  • Star Cement
  • UltraTech Cement
  • JK Lakshmi Cement
  • Shree Cement
  • Bharat Oorja Distilleries Pvt. Ltd
  • Hindustan Petroleum Corporation Ltd.

Invest Bihar Summit Key Details:

Key details about the Invest Bihar Business Connect summit are available below.

  • Event Name: Bihar Business Connect
  • Type: Global Investors’ Summit
  • Dates: 13th-14th December 2023
  • Time: 10:00 AM to 5:00 PM
  • Venue: Gyan Bhawan, Patna
  • Day 1 (13th December):
    • Sectoral sessions on:
      • IT/ITeS & ESDM
      • Textile & Leather
      • Food Processing
      • Hospitality & Tourism sectors, combined with relevant field visits.
  • Day 2 (14th December):
    • Plenary session with participation from Hon’ble Chief Minister, Ministers, and senior government officers.
    • One-to-one B2G meetings in the second half of the day.
    • Organized visits to Nalanda, Rajgir, and Bodh Gaya for interested participants.

Who took part in the Invest Bihar Business Connect Submit?

Pranav Adani of Adani Group, Rajneet Kohli of Britannia, Kamal Oswal of Nahar Group of Industries, Rajesh Aggarwal of Micromax Biofuels, and Rakesh Swamy of Godrej Group are the big faces, who took part in the event.

In the Invest Bihar Business Connect summit over 600 participants from India and 15 other countries, which are as follows.

  • USA
  • Taiwan
  • Japan
  • Germany
  • Saudi Arabia
  • UAE
  • Russian Federation
  • Netherlands
  • Hungary
  • Nepal
  • Bangladesh
  • Mauritius
  • Vietnam
  • Madagascar
  • Uzbekistan

The diverse participation made the summit a global platform for discussions, collaborations, and investments.

Invest Bihar Business Summit Impacts:

The Invest Bihar Business Summit’s investments of ₹50,530 crore will help the state in economic growth, job creation, and improvement of infrastructure, and many more, learn about them from below.

  • Economic Boost: The event attracted investments of ₹50,530 crore, indicating potential economic growth for Bihar.
  • Job Creation: The investments, especially from the Adani Group, are likely to create job opportunities in various sectors.
  • Infrastructure Improvement: The release of Bihar Logistics Policy 2023 signals a focus on enhancing infrastructure, including logistics and transportation.
  • Diversification: The MoUs cover diverse sectors, promoting a more balanced and varied economy in Bihar.
  • Government Support: Emphasis on special status and supportive policies suggests a commitment to creating a favourable business environment.
  • Regional Development: Investments in specific districts can lead to balanced regional development.