Bihar govt will acquire 10,000 acre of land in FY2025-26 to develop more industrial areas: Dy CM

The Bihar government acquired 8,000 acre of land in the current financial year for developing industrial areas and would obtain another 10,000 acre next fiscal to attract investment in the state, Deputy Chief Minister Samrat Choudhary said on Thursday.

Addressing the inaugural session of the two-day Bihar Business Connect 2024, he said the NDA government in the state was taking several steps to boost investments.

"In the current financial year, departments concerned have acquired 8,000 acre of land for developing industrial areas in different parts of the state. The government is now preparing to acquire an additional 10,000 acre in the coming financial year for the purpose," Choudhary, who holds the Finance portfolio, said.

"The Department of Industries in association with several other concerned wings of the state government is providing an enabling eco-system for the overall industrial development of Bihar through appropriate policy interventions," he added.

Choudhary said that in addition to the efforts being made by the state government, the Centre was working to connect 10 "smaller and unconnected" areas in Bihar by air.

Four expressways are also being developed in the state and it would be a game changer for industrial development, he said, maintaining that the country as well as Bihar were going through a "golden period".

Vijay Kumar Sinha, the other deputy chief minister, said India's growth was incomplete without Bihar.

"Under the leadership of Prime Minister Narendra Modi and Chief Minister Nitish Kumar, Bihar is witnessing growth, especially in terms of industrial development," he said.

Sinha said the state government recently approved the Bihar Film Promotion Policy, which will boost investment, employment and tourism through cinema, and help change perceptions about the state.

"We have the talent to take Bihar's heritage to the world stage. There is enormous potential for filmmaking in Bihar. The glorious past of Bihar in the field of art and culture, and natural cinematic treasures are enough to attract filmmakers. We are inviting filmmakers to come and explore the state," said Sinha, who holds the charge of the Art, Culture and Youth Department.

The state government is also preparing to set up a film city and film training institutes, he said.

Speaking at the programme, state Labour Minister Santosh Kumar Singh said Bihar is the hub of skilled and non-skilled labourers.

"Bihar is considered the human resources capital of India as 60 per cent population belongs to the working class. The state government has taken several measures for the welfare of skilled and non-skilled labourers. The availability of labourers is a must for industrial growth and that is available here in abundance," he said.

Earlier, Industries Department Secretary Bandana Preyashi said the state government would soon unveil five new sector-specific policy incentives to attract investment in the state.

"We see Bihar as India's next growth engine," Preyashi said, noting that the state is known as the cradle of Indian civilisation, the birthplace of Buddhism, and it is home to the world's oldest university.

"Now, Bihar is writing a new story. Bihar -- from the land of history to the land of industry," she said.

She said physical infrastructure as well as the law and order situation has improved a lot under the leadership of Kumar.

Preyashi said the state government formulated the Bihar Industrial Investment Policy, 2016, and also some sector-specific policies like the Bihar Startup Policy, Bihar IT Policy, Bihar Logistics Policy, Textile & Leather Policy, Bihar Tourism Policy, Export Promotion Policy and Purchase Price Preference Policy to promote development.

These policies have been appreciated by the industry, she said, adding, "We are soon coming up with more sector-specific policies."

Among them were Bihar Food Processing Policy, Bihar Pharmaceuticals Promotion Policy, Bihar Plastic Manufacturing Promotion Policy, Biofuel Production Promotion Policy, and Bihar Wood Based Industries Policy, Preyashi said.

She said the state has created a land bank of over 3,000 acre for setting up industries and offering about 2.4 million sq ft of plug-and-play sheds.

"We are now in the process of acquiring land in every district of Bihar. The government has already given cabinet approval for it," she said.

The secretary said the government is focusing on promoting startups and Micro, Small and Medium Enterprises (MSMEs).

The second edition of the global investors' summit is aimed at attracting investments and creating employment opportunities, officials said.

The first edition, held last year, witnessed the signing of investment proposals worth Rs 50,500 crore, they said.