Bihar Seeks to Attract $13 Billion Investments at 2nd Edition of Business Connect Expo

Bihar Seeks to Attract $13 Billion Investments at 2nd Edition of Business Connect Expo

Patna, November 21 (Alayaran.com): The government of Bihar is gearing up to host the second edition of the state's flagship investor meet, Bihar Business Connect, from December 19-20, 2024, in Patna. Over 80 countries are expected to participate in this two-day event, with a focus on attracting investments in sectors such as textiles, food processing, and electric vehicles (EVs).

The event is being organized by the state's departments of industries and tourism, which have collaborated with major industry associations and central ministries to make it a success. The state aims to attract $13 billion in investments through this edition, up from $5 billion in the first year.

A website has already been launched for registrations, which began on November 12, and so far, invitations to embassies of 82 countries have been sent out. Last year, 3,000 people registered for the event, whereas this year's target is 5,000.

Nitish Mishra, State Industries and Tourism Minister, has held several roadshows across the country to promote this investors meet and attract investments in Bihar, particularly in the burgeoning leather industry. Recently, the state hosted a leather investors' meet in Kanpur to showcase its emerging role as a global leather industry hub.

"Bihar will roll out the red carpet for both domestic and foreign investors," Mishra had said earlier in August. "We seek to create jobs and boost business in the State by attracting investments in various sectors."

The last edition of the investor meeting in 2023 saw several memorandums of understanding (MoUs) being signed for proposed investment of Rs 50,500 crore by as many as 278 companies.

The second edition of Bihar Business Connect promises to be a bigger event than before, with Union ministers and secretaries of central ministries expected to attend the occasion. The state industries secretary has confirmed that all major industry associations will also be invited to participate in the event.