PATNA: CM Nitish Kumar on Wednesday said the overall business atmosphere in Bihar has improved drastically in the last few years and the state is now getting many proposals from big investors and reputed companies.
Addressing an investors' meet after launching the Bihar Textile and Leather Policy-2022, Nitish assured the investors all possible assistance from the administration and the state government.
The CM also said his government would ensure that Bihar becomes the top destination for investors in different sectors in the coming years.
"We are working on various sectors, especially ethanol production, textile and leather, to attract investors in a big way," Nitish said while lauding state's industry minister Syed Shahnawaz Hussain for creating awareness among the investors about the facilities provided by the state government.
"Earlier, I used to go to other places to attract investors. Now, the investors are frequently arriving in the state with investment proposals. Such a turnaround happened mainly because of the consistent efforts of our industry minister. He is doing an excellent job in bringing industries to the state," the CM said. Highlighting the main features of the textile and leather policy, Nitish said it envisages capital investment subsidy up to Rs10 crore as well as freight subsidy up to Rs10 lakh per year.
"The power tariff for such units will be Rs2 per unit in order to provide competitive electricity rate to the industries to set up units in the state," he said.
"The new policy is aimed at opening doors for new textile and leather industries in Bihar. The state government has made several provisions for various types of incentives, including capital investment, employment generation, power tariff and skill development subsidies," Nitish said.
Shahnawaz said the new textile and leather policy is investor-friendly and bound to attract big investors to Bihar.
"I know that people from the textile and leather sector across the country want to invest in Bihar, which will soon become a major textile hub," the minister said.
