NEW YORK (TIP): Industries Dept, Govt of Bihar hosted the “Invest in Bihar” summit in New Jersey on 18th July 2023. The summit was hosted in alliance with Bihar Foundation USA, a diaspora cell of Govt of Bihar and Bihar Jharkhand Association of North America. A Delegation of Industries Ministry led by Minister Shri Samir Kumar Mahaseth and additional chief secretary Shri Sandeep Poundrik are in New Jersey USA intending to attract investors to Bihar. The summit was attended by 130 reputed entrepreneurs and professionals from the US who expressed their desire to invest in the state of Bihar. This includes companies related to food processing, manufacturing, IT, and Consulting Services.

The event started with Welcome remarks by Bihar Foundation USA Chairman Shri Alok Kumar and BJANA President Shri Anurag Kumar. Both leaders thanked the visiting delegation for their great initiatives and assured their support in bringing investment to their home state Bihar. Smt. Nidhi Jha welcomed Minister Shri Samir Kumar Mahaseth with a Maithili folk song. The entire cultural presentation was curated by Santosh Jha.

Speaking on the occasion, the Bihar Industries Minister Shri Samir Kumar Mahaseth said that through this summit, the government is encouraging investment in Bihar. He urged entrepreneurs from the United State, who have been “running businesses across India and the world over” to rise to the occasion and invest in Bihar”.

Shri Sandeep Poundrik, Additional chief secretary, Industries Dept made a detailed presentation for the potential investors citing investment opportunities in Bihar. During the presentation, Poundrik said whether it is textile, manufacturing or IT, a large chunk of manpower is from Bihar, who are willing to return to the state. “Bihar government is acting proactively and taking all possible steps to make a conducive climate here. The government is developing plug-and-play stations where investors will be able to come and start work directly. They will not be required to go through situations like land acquisition and power shortages. This will speed up investment.

Ajay Kumar Singh Founder & CEO of Slayback Pharma wanted to bring more business and opportunities in Bihar specially in Lukhisarai, Bihar whereas Dr. Pankaj Mohan, CEO & Chairman Sonnet Bio Therapeutics, Inc asked for more focus on Buxar, Bihar.

Prashant Kumar, CEO – Mareana Inc , Princeton NJ asked about getting trained skillsets from Various IIT s and Engg colleges and Govt plan for retaining them after hire as well as provisioning some innovative recreational facilities so that hired resources stay back in the state. They could look at joint programs with dept of industries pitching in for continuous dishing out right skills.

The other person was Amit Anand, Partner Deloitte Consulting looking for opportunities in putting up large centers in Bihar …they would like to explore outside of Patna too but within Bihar …was talking about possibility of large-scale offices with thousands of head counts.

While answering a question from the audience Shri Poundrik pointed out that Bihar has suffered a lot due to the wrong perception created over the years that it does not have much to offer and is not a safe investment destination. Mr Poundrik assured that the state will provide the same ease of doing business that is associated with the developed states.