Days after the Punjab government canceled the textile park project near Mattewara Forest Range in Ludhiana, Bihar government officials visited Punjab to ask industrialists to invest in their state. A meeting in this context was held in Ludhiana in which industrialists not only from the textile sector, but also from the automotive and consumer goods sectors participated in the meeting.
This meeting took place after Bihar announced its textile and leather policy. Bihar Industries Minister, Syed Shahnawaz Hussain said, “The industrialists of Ludhiana Textile Center have shown keen interest in the Bihar textile and leather policy. Some of the incentives that Bihar has offered to the industry are: land conversion fee waiver, stamp duty/registration fee waiver. The state provides a Skills Development Grant to eligible units @ 20,000 per employee per year. If capital investment up to Rs 10 crore occurs, 15% incentive will be given to set up factories and machinery.
“At the meeting, the minister called for better law and order conditions in Bihar. He also said that investments worth Rs 30,000 crore had taken place in Bihar in the last financial year. Bihar’s policy and incentives seem to be lucrative, one can think twice about it,” said Sanjeev Garg, CMD, Garg Acrylics, Ludhiana.
Syed Shahnawaz Hussain said, “The industry-friendly environment is also a big attraction for industrialists from Punjab to invest in Bihar.”
Bihar officials said: ‘During the lockdown, we conducted a survey on ‘what type of workers were returning to the home state’ and found that 63% of them were involved in the textile sector and worked in different states of the country. Undoubtedly, many of them have returned to work, but this indicates that Bihar has enough potential for manpower in this sector.
The slogan given by the state is “Ek baar tau aayo Bihar”.
“This market can be explored on a broader level. We can always think of extending their units to Bihar,” the minister added.
Although the government of Bihar has invited industrialists from Punjab to visit Bihar to assess the industrial investment environment on the ground, so far the industrialists from Punjab have not decided on an official visit.
Bihar officials said 17 ethanol units were installed in Bihar last year, attracting huge investment. They have a land bank of Rs 2,900 crore in different pockets of Bihar – Patna, Badalpur, Mirzapur etc. “There are 74 industrial sites in Bihar and a one-stop-shop system for all permits,” they added.
Kamal Oswal, CMD, Nahar Group; Anoop Bector, CMD, Cremica; Gautam Munjal, CMD, Satyam Auto Industries; and others attended the meeting.
Syed Shahnawaz Hussain said, “The people of Bihar have made the industry successful across the country through their hard work. The industrialists of Punjab know that the workers of Bihar are the main strength of the state. Not just the textile sector, our policy is excellent for all types of industries. Calling on industrialists and investors in Punjab to invest in Bihar, Sandeep Pondrick, Principal Secretary, Department of Industries, Bihar, said, “Our department is committed to the industrialization of the state and we are constantly striving to improve the environment for industry in Bihar. . All possible incentives we have promised will be granted in time.