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  • Bihar (India) on the toes to attract investment in the textile industry; holds meetings in Delhi and Ludhiana

Bihar (India) on the toes to attract investment in the textile industry; holds meetings in Delhi and Ludhiana

By on July 27, 2022 0
Major Garment Exporters with Syed Shahnawaz Hussain, Minister of Industry, Bihar

Following its textile and leather policy, Bihar is now on the alert to attract investors from other states.

Syed Shahnawaz Hussain, Minister of Industry of Bihar, organizes meetings in different states. Over the past week, he has held meetings in Delhi and Punjab.

Many textile players took part in these meetings.

The Minister held a meeting with major exporters like Shahi Exports, Richa Global, Texport Industries, Pearl Global and Poppys Knitwear among others in Delhi.

Narendra Goenka, President of AEPC, applauded Bihar’s textile and leather policy and insisted that the benefit of the subsidy, given under the policy, should be granted immediately. The Minister assured that all industries set up in Bihar are provided with subsidies without delay. Harish Ahuja, CMD, Shahi Exports and Virender Uppal, CMD, Richa Global asked about land availability as well as industrial land rates.

Principal Secretary (Industries) Sandeep Poundrik informed them: “Recently we purchased land in 54 industrial estates. The price was reduced by 20 percent to 80 percent. In addition, the availability of land for industry is also sufficient. We have a land reserve of 2,900 acres so that there is no delay in land allocation or shortage of land.

To name a few, the meeting held in Ludhiana saw such personalities as Nahar Group, Vardhman Group, ST Cottex, Arisudana Group, Youngman, Sportking, Garg Acrylics, Longowalia spinning and others.

The other meeting in Delhi saw the presence of Sunil Bansal, ED, Liberty Group; Rakesh Grover, MD, Grover Sons clothing; Inder Dev Gupta, MD, Kumar Mangalam Birla Group and some other prominent players.

Syed Shahnawaz Hussain said, “Industrialists in Ludhiana Textile Center have shown keen interest in Bihar textile and leather policy.

A few of the incentives that Bihar has offered to the industry include waiver of land conversion fee and waiver of stamp duty/registration fee. In addition, the state provides a Skills Development Grant to eligible units @ 20,000 per employee per year. If a capital investment of up to Rs 10 crore occurs, an incentive of 15% will be given for setting up factories and machinery.

The minister told the industrialists: “You all should plan a visit to Bihar for 2-3 days and your perception of Bihar will completely change. When you witness the change of Bihar, all hesitation to invest and build industries in the state will be gone from your mind.

Sanjeev Garg, CMD, Garg Acrylics, Ludhiana, says: “The Minister has called for better law and order conditions in Bihar. He also said that investments worth Rs. 30,000 crores happened in Bihar in the last financial year. Bihar’s policies and incentives appear to be lucrative, and one might think twice.

Bihar officials say that during the lockdown they conducted a survey on “what type of workers were returning to the home state”, and 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 sufficient potential for manpower in this sector.

The slogan given by the state is “Ek baar tau aayo Bihar”.