Author: Bihar Say | Amrita |

Bihar Business Connect 2024 is poised to be a landmark event, drawing participation from over 80 countries. Scheduled for December 19-20 in Patna, the event is aimed at boosting investments in the state’s key industries, including textiles, food processing, and electric vehicles. Here’s a detailed overview of the preparations, objectives, and promotional efforts driving this initiative:

Overview of Bihar Business Connect 2024

• Event Dates: December 19-20, 2024
• Expected Participation: Over 80 countries
• Focus Areas: Textiles, Food Processing, Electric Vehicles
• Location: Patna, Bihar

Bihar Business Connect 2024 is set to position the state as a rapidly developing industrial hub, attracting investors both domestically and internationally. With key industry leaders and Union ministers expected to attend, the event promises to be an essential platform for fostering global business ties and generating new investment opportunities in Bihar.

Key Objectives of Bihar Business Connect 2024

The initiative focuses on several core objectives that are expected to have a lasting impact on the state’s economic growth:

1. Attract Investment: By spotlighting sectors with significant growth potential like textiles, food processing, and electric vehicles, the event seeks to secure substantial investments for Bihar’s industries.
2. Create Employment Opportunities: The state government is committed to ensuring that the investments generated by the event result in widespread job creation across different sectors.
3. Promote Industrial Growth: The government aims to harness Bihar’s evolving infrastructure and policies to enhance industrial development and business growth.
4. Increase Domestic and International Participation: With over 80 countries expected to participate, the event will serve as a vital opportunity for Bihar to integrate with global markets and build relationships that can drive further development.

Preparations for Bihar Business Connect 2024

State officials have been proactive in ensuring the event’s success, beginning with extensive planning and coordination:

• Review Meetings and Coordination: The chief secretary of Bihar held multiple meetings to ensure all departments are aligned with the event’s goals. The most recent meeting emphasized a coordinated approach across the state’s infrastructure, policies, and event management teams.
• Focus on Key Industries: The state industries secretary highlighted that preparations for attracting investments in textiles, food processing, and electric vehicles are well underway, with the aim to double the investments from last year’s figures.
• Successful Registration Launch: The event’s registration website was launched on November 12, with promising early registration numbers, showing strong interest in Bihar’s investment opportunities.

Promotional Efforts to Attract Investments

To maximize the impact of the event, Bihar’s government has made significant promotional efforts across India and abroad:

1. Roadshows: The first roadshow for Bihar Business Connect 2024 was held in Kolkata in July. Bihar’s Industries and Tourism Minister, Nitish Mishra, has led a series of roadshows across the country to generate buzz and attract potential investors.
2. Sector-Specific Campaigns: The state has focused on promoting specific sectors that have significant potential, such as the leather industry. An investors’ meet in Kanpur in November 2024 highlighted Bihar’s plans to become a global hub for leather manufacturing.
3. International Outreach: By targeting global investors, the government plans to showcase Bihar’s attractive investment climate, ensuring that the state is positioned as an ideal place for long-term business ventures.
4. Government Support: The state government is eager to roll out the red carpet for investors, with promises of strong support and incentives for those looking to establish operations in Bihar.

Past Successes and Future Prospects

Bihar Business Connect 2024 builds upon the successes of previous events. Last year’s investor meeting saw 278 companies sign memorandums of understanding (MoUs) for proposed investments totaling ₹50,500 crore. The state hopes to replicate and surpass this success by focusing on high-potential sectors and attracting a wider array of international and domestic investors.

Sectors Targeted for Investment

The event will target several key sectors that are central to Bihar’s economic growth:

1. Textiles: Bihar’s textile industry has grown rapidly in recent years, driven by favorable policies and a skilled workforce. The state seeks to further expand its textile sector by attracting investment in both manufacturing and exports.
2. Food Processing: Bihar’s agricultural sector provides a solid foundation for the food processing industry, and the government aims to tap into this potential by offering incentives for investors in this sector.
3. Electric Vehicles: As the world transitions to cleaner energy, Bihar is focusing on electric vehicles as a growth area. By promoting the electric vehicle sector, the state plans to reduce its carbon footprint and encourage the adoption of sustainable technologies.

Conclusion: Why Bihar is an Emerging Industrial Hub

Bihar’s focus on infrastructure development, favorable policies, and strategic location make it a prime destination for business investments. With sectors such as textiles, food processing, and electric vehicles offering substantial growth potential, Bihar Business Connect 2024 provides an excellent opportunity for both domestic and international investors to explore and capitalize on these emerging opportunities.

The state’s proactive approach, led by the efforts of its Chief Secretary and Industries Secretary, ensures that all preparations are in place for the event’s success. With promises of investment, job creation, and industrial growth, Bihar Business Connect 2024 is set to pave the way for a prosperous future for the state.

For more details and to register for the event, visit the official website.