Progressive Bihar - Finally the sleeping giant is waking up

Progressive Bihar - Finally the sleeping giant is waking up
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Monday, November 29, 2010

Trade associations target 4,00,000 Crores investments over next 5 years

Buoyed by the victory of the NDA and Nitish Kumar, three trade associations have come together to target almost 4 Lakh crores worth of industrial investments into Bihar by holding 3 investmarts; one each in 2011, 2013 and 2015.

The three trade associations are
  1. ASSOCHAM (Associated Chambers of Commerce and Industry of India)
  2. BCC (Bihar Chamber of Commerce)
  3. BIA (Bihar Industries Association)
The investments being targeted are
  1. 50,000 crores in 2011
  2. 1,25,000 crores in 2013
  3. 1,75,000 crores in 2015
The confidence level is high because of the development focused goverment coming back to power and based on an example of Madhya Pradesh which garnered 2,53,000 crores investment commitments from a two days investors' summit.

The 3 associations have also proposed a public-private partnership to develop 14 new industrial clusters with each cluster housing 1,800 to 2,000 industrial units that will provide direct and indirect employment to 6 lakh people. The total investment on these clusters would be about Rs. 450 crores and land is expected to be provided by the state government. The clusters are proposed in Patna, Darbhanga, Madhubani, Barauni, Muzaffarpur, Katihar, Madhepura, Bhagalpur, Munger, Nawada, Supaul, Gaya, Bhojpur and Hajipur.

In my view, this is a good step if planned and executed properly with the right amount of support from the government. The biggest support that I see would be the power supply required for these industrial units. The Bihar government has already said that it will buy surplus power from other states. It remains to be seen how successful will the Bihar government be in getting the required quantum of power supply quickly.

The details in this post are courtesy of The Times of India article Trade associations to hold investmarts. The article does say that the investments will be 4 lakh crores but the sum total of the investments targeted in each of the 3 years is 3,50,000 crores. Hence there is a difference somewhere but it doesn't matter. Even if Bihar gets investments worth 3,50,000 crores, it will be well on its way to becoming a developed state and a better place to stay.

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