Bihar Business Connect 2024: MoUs Worth ₹1.81 Lakh Crore Signed, Paving Way for Industrial Transformation

Patna, December 21, 2024: Bihar Business Connect 2024, held on December 19 and 20 under the leadership of Chief Minister Nitish Kumar, concluded with historic achievements, signaling a transformative phase for Bihar’s industrial and economic landscape. With the signing of Memorandums of Understanding (MoUs) worth ₹1,80,898.95 crore across 11 sectors, the event witnessed an overwhelming response from investors, setting a new benchmark in the state’s journey toward industrialization.

Happy Hours is a restaurant located in Mithapur, Patna, Bihar.

Record-Breaking Investments
Over 400 investors participated in the summit, and the total value of MoUs signed during this year’s event was three times higher than the previous edition. Notable companies like Sun Petrochemicals, Bharat Petroleum, NHPC, Shree Cement, Haldiram Snacks, and SLMG Beverages committed to significant investments in Bihar, spanning diverse sectors with a special emphasis on renewable energy.

Key MoUs Signed

Sun Petrochemicals: Investments in energy and refinery projects.
NHPC: Development of hydropower projects to boost renewable energy in the state.
Bharat Petroleum: Expansion in petroleum product supply and storage infrastructure.
Shree Cement: Establishment of new cement production units.
Haldiram Snacks: Expansion of food processing units to leverage the state’s agricultural resources.

Deputy Chief Minister Vijay Kumar Sinha, who presided over the second day of the summit, lauded the event as a major milestone for Bihar. “Bihar’s rich history, fertile land, and skilled workforce make it an ideal destination for industries. Over the last two decades, the state has witnessed significant positive change, and we are now focused on furthering our strengths in food processing, mineral resources, and even film city development,” he said.

Focus on Renewable Energy
Renewable energy emerged as the cornerstone of this year’s summit, with several investors prioritizing clean energy projects. This aligns with Bihar’s long-term goals of sustainable development and creating a resilient infrastructure to support future growth.

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Strategic Vision for Industrial Growth
In a message read by Energy Minister Bijendra Prasad Yadav, Chief Minister Nitish Kumar reiterated the government’s commitment to facilitating investors and making Bihar an industrial hub. “Bihar is reaching new heights of development. These MoUs reflect our vision of fostering an investor-friendly environment and achieving industrial excellence,” the Chief Minister stated.

Government Support and Infrastructure Development
The event featured a strong representation from the state government, including Industries and Tourism Minister Nitish Mishra, Chief Secretary Amrit Lal Meena, Development Commissioner Pratyay Amrit, and Industries Department Secretary Vandana Preyashi. The government assured investors of seamless support and proactive measures to facilitate their projects.

Speaking at the summit, Chief Secretary Amrit Lal Meena highlighted the steps taken by the state to attract investments. “Bihar Business Connect 2024 has been a resounding success, with MoUs signed across key sectors like energy, food processing, cement production, and infrastructure. This marks a significant step toward transforming Bihar into a leading industrial destination,” he said.

Employment and Economic Growth
The investments are expected to generate substantial employment opportunities in the state. With companies committed to establishing and expanding operations in Bihar, the summit heralds a promising future for job creation and economic upliftment.

Sectoral Highlights

Energy and Infrastructure: Major investments in hydropower, petroleum supply, and renewable energy.
Food Processing: Expansion of food processing units by leading brands like Haldiram Snacks to boost the agro-based economy.
Cement Industry: Shree Cement’s new production units aim to meet the growing demand for construction materials.

Global Participation and Visionary Leadership
The summit underscored Bihar’s global outlook and its determination to become a key player in India’s industrial map. Deputy Chief Minister Vijay Kumar Sinha emphasized the state’s readiness to support industries through policy reforms, infrastructure development, and skilled workforce availability.

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Bihar Business Connect’s Growing Legacy
The 2024 edition of Bihar Business Connect demonstrated the state’s growing appeal among investors. By showcasing its rich cultural heritage, fertile land, and government support, Bihar is redefining itself as a preferred destination for businesses.

The summit’s success underscores the collaborative efforts of the government and the private sector, paving the way for Bihar to become a significant industrial and economic powerhouse in India. As the state gears up to implement the MoUs signed, it aims to establish a robust industrial ecosystem that fosters growth, innovation, and inclusivity.

Bihar Business Connect 2024 has undoubtedly set the stage for a new chapter in the state’s development story, with transformative projects and visionary leadership driving the state toward unprecedented growth.

**Industry Department Team Applauded for Historic Success of Bihar Business Connect 2024**
*Patna:* Bihar Business Connect 2024 has set a new benchmark in the state’s industrial journey, with MoUs worth an unprecedented ₹1,80,000 crore signed during the two-day event. The summit not only marked the highest-ever investment commitments in Bihar’s history but also conveyed a powerful message to the nation about Bihar’s readiness for industrial growth.
Industry Minister Nitish Mishra extended heartfelt congratulations to the entire team of the Industry Department for the grand and successful organization of the event. The minister commended the leadership and efforts of key officials, including Industry Department Secretary Vandana Preyashi, BIADA Managing Director Kundan Kumar, Industry Department Director Alok Ranjan Ghosh, Technical Development Director Shekhar Anand, and Handloom and Silk Director Nikhil Dhanraj Nippanikar.
“The dedication, perseverance, and vision of the Industry Department’s team have laid a strong foundation for Bihar’s economic progress. Their hard work is truly inspirational,” Mishra stated on X (formerly Twitter).
Bihar Business Connect 2024 has underscored the state’s commitment to creating an investor-friendly environment and fostering industrial transformation. The remarkable success of this event reaffirms Bihar’s position as an emerging hub for industries and economic development in the country.

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