Bihar Business Connect 2024: Rs 1.81 Lakh Crore MoUs Mark Economic Leap

During Bihar Business Connect 2024, MoUs worth Rs 1.81 lakh crore were signed across 11 sectors, signaling significant investment opportunities. The summit, aimed at boosting industrial growth, focuses on easing business processes, particularly highlighting the renewable energy sector as a key area for investment.

At the Bihar Business Connect 2024, Memorandums of Understanding (MoUs) totaling Rs 1.81 lakh crore were solidified across 11 diverse sectors, according to State Chief Secretary Amrit Lal Meena. He emphasized the state's commitment to attracting investments and improving the ease of doing business, citing an encouraging investor response.

Meena highlighted the December 19-20 conference's success, noting that over 400 investors were drawn to significant opportunities, particularly in the renewable energy sector. This year's agreements markedly surpassed the Rs 53,000 crore MoUs of 2023, with renewable energy capturing the most interest.

The state has been proactive in streamlining investor facilitation, instituting a State Investment Promotion Board and a single-window clearance system. Meena also pointed to the creation of 24 lakh square feet of "plug and play" infrastructure to accommodate returning skilled workers from the COVID-19 pandemic, bolstering sectors like IT, textiles, and food processing.

(With inputs from agencies.)