Mahindras to invest in state

PATNA: Announcing himself as a "participatory partner" in the development of Bihar, Mahindra and Mahindra group vice-chairman Anand Mahindra said here on Monday that four of his six holding companies would invest in the state, and the two others would follow the suit later. He, however, did not quantify the investments to be made in the state. For, that depends on further exploratory work and discussions in the management. The group has six holding companies handling business activities in six sectors. Senior representatives of four of them accompanied Mahindra during the powerpoint presentations made by senior officials of the state's road, urban, health, finance and education departments in the presence of chief secretary G S Kang in the state secretariat. The four sectors identified for now are tractor division, tourism, information technology and agri-business products and rural financing. While the viability of hotel chains under Mahindra Club along the Buddhist Circuit is being explored, the group has finalised the plan to start a satellite assembly unit in the tractor division in the state, Mahindra said. The group would also invest in the export of litchi and mango products under the brand names of 'Mahindra Litchi' or 'Mahindra Mango'. The Mahindra brand of grapes has already emerged as the leader, he said, adding rural financing and investment in infotech are also on the agenda. As for infotech, the group, at the moment, has proposed a "small beginning" because the state does not have cross section of human resources required for the purpose due to large-scale migration. "This does not mean that we are leaving out the infrastructure sector. And we want to introduce non-polluting transportation in tourist centres. Bihar has huge potential in the agri sector. It could be number one state in agricultural export in the country," Mahindra said and, looking at CM Nitish Kumar and vice-chairman of the State Planning Board N K Singh, added, "that should be our dream." "We had discussions about the state with Mr Singh. I am not scared of Bihar though I was scared what if Mr Singh fixes the quantum of investment that our group should make," Mahindra said with a smile. Obviously, the industrial giant was quite upbeat about the investment scenario unfolding in Bihar. He said he has been wowed by the "speed" with which legislative reforms have been brought about under the leadership of Nitish Kumar.