Bihar Government invites investments from entrepreneurs of Punjab

Ludhiana, August 9, 2023: Federation of Industrial and Commercial Organisation (FICO) organised an interactive session regarding the Investment Opportunities in Bihar where Pankaj Dixit, Director of Industries Bihar was the Chief Guest and Santosh Kumar Sinha, Executive Director Bihar Industrial Area Development Authority, Government of Bihar was the Guest of Honor on the occasion, they interacted with the Industry Members in Ludhiana. The objective of the interactive session was to discuss business prospects and investment opportunities in Bihar.
 
Gurmeet Singh Kular, President FICO welcomed Pankaj Dixit Director of Industries Bihar and other government officials from Bihar, mentioned that FICO is a proactive apex organization working for promotion of trade, commerce and industry, he said FICO serve trade and industry, trade and industry serves the nation. FICO has been partnering with multiple states in the country with the objective of fulfilling the states’ agenda of inviting investors in various sectors as per the potential and competencies of the specific State. He further stated that Punjab is popular for the enterprising spirit of its people.

 
Pankaj Dixit interacted with Industry members and apprised them of the key features of the Bihar Industrial Development Policy 2016, revised in 2020 and in 2022 which focuses on inclusive economic growth. He also highlighted the focus areas of the State such as Textiles, Leather, food processing, ethanol, forest produce etc. He stated that an exceptional combination of development through value addition to natural resources and diversification of industries, led by innovation and technology, has placed the State amongst the top investment destination in the country. He invited a delegation from Ludhiana to visit the State to explore investment opportunities. He said Bihar is sixth highest state in terms of MSME registration, second top in implementation of ZED. He said to every 100-rupee investment made Bihar government will return cost equivalent to 150 in five years as incentive. 

 
The session was attended by more than 50 top business industrialists from in and around Ludhiana attended the session. FICO assured an investment of 150 crores in Dyeing Sector in Bihar, provided they fulfil certain conditions of the industry.