Bihar Advances Industrial Growth with New Exit Policy

The Bihar Industrial Area Development Authority (BIADA) has distributed cheques to 28 beneficiaries as part of the state's Exit Policy, 2023. The policy aims to reclaim non-functional industrial plots for new projects. The state plans to develop an Integrated Manufacturing Cluster in the Gaya district.

In a landmark move to boost the state's industrial landscape, the Bihar Industrial Area Development Authority (BIADA) distributed cheques to 28 recipients as part of the Exit Policy, 2023. The policy seeks to reclaim plots from dormant industries, paving the way for new economic ventures.

The policy facilitates the return of investments made for acquiring industrial plots, reallocating these lands to new investors. On Tuesday, Bihar Industries Minister Nitish Mishra handed over the cheques to beneficiaries, highlighting BIADA's substantial role in the state's economic development.

The minister also unveiled a plan for an Integrated Manufacturing Cluster (IMC) in Bihar, identifying 1,670 acres in Gaya's Dobhi Block. The site, strategically located near NH 22, aims to connect industrial efforts between Bihar and neighboring Jharkhand.

(With inputs from agencies.)