Nitish wakes up to call of big biz

Nitish wakes up to call of big biz
SANTOSH SINGH
Investment, industry, infrastructure — The Telegraph recalls the steps taken by Nitish Kumar to put Bihar on the fast track
Bihar, which saw the implementation of industrial projects worth only Rs 65 crore between 1992 and 2003, received 115 investment proposals running up to several thousand crores between February and April this year.
The government has given its nod to 10 proposals worth over Rs 2,000 crore and could approve around 50 more in six months.
The impressive list of investors includes Raj Shri Sugar Mills, a southern major keen to set up two units at Rs 238.5 crore and Rs 248.5 crore respectively, as well as other players.
The chief minister had promised that revival of the sugar industry would be high on the government’s agenda. Earlier this year, Union agriculture Sharad Pawar had urged Nitish Kumar to formulate a policy for inviting investors in the sugar sector.
Money will flow in the entertainment sector as well, with Prakash Jha’s Holy Cow Pictures expected to come up with mutltiplexes in Patna, Muzzaffarpur, Bettiah, Biharsharif and Madhubani.
Bharti’s Sunil Mittal recently expressed interest in investing in food processing, horticulture and export of fruits.
The state investment promotion board received 28 proposals for steel-based and chemical industries, a development welcomed by industry-watchers.
In a bid to give the industrialisation process a boost and make it simpler, the government passed the Single Window and Infrastructure (Enabling) Act for time-bound clearance of investment proposals and removal of bureaucratic red tape.
Speaking to The Telegraph, Bihar Industries Association (BIA) president K.P.S. Kesri said: “The investment promotion board has been seriously studying 50 proposals, ranging from sugar mills and cement factories to hospitals and shopping malls.”
Kesri rued that only 400 of the 2,200-odd industries were still in operation. The nine sugar mills, most of which were in Champaran and Madhubani, and 20 PVC factories were the only “saving grace” for the “investment-virgin” state, he added.
The BIA president said though Bihar had high potential in agriculture and associated industries, little had been done to reap the benefits. He referred to the dearth of interest in food processing and the consequent under-exploitation of the potential provided by the state’s litchis and mangoes to prove his point.
Recently, two US-based NRIs evinced interest to set up software development centres in Patna while another entrepreneur proposed to open a migration-driven nursing training institute in Bihar. Also, a six-member delegation from the state interacted with 25 CEOs in the US where the state’s investment opportunities were raised.
Things look bright for the tourism industry as the government has decided to focus on the sector with emphasis on the Buddhist circuit.
As for infrastructure, the government recently signed MoUs with the National Thermal Power Corporation for revival of its Kanti (Muzaffarpur) and Barauni units, besides strengthening of the sub-transmission system.
The state, however, has not been able to prevent power theft, a practice responsible for huge losses.
Bihar needs around 1,500 MW but it gets only 700-800 MW from the central pool. Power minister Bijendra Yadav was not available for comment.
On the road front, steps have been initiated to upgrade highways and work is expected to start after monsoon. (To be continued)
SANTOSH SINGH