Cool Bihari: Bihar attracts India Inc.

Finally it appears that India Inc. is making amends in its investment pattern and trying to tap the unexplored potential of Bihar .People like Ratan Tata,Sunil Mittal, Analjit Singh,Ashok Ganguly, are some of the big names from India Inc. who have shown keen interest in starting new ventures in Bihar.

ET reports that” The diversified Mahindra and Mahindra group on Monday said it was keen on entering infrastructure, rural finance and the IT space in Bihar, besides utility vehicles but refrained from assigning any investment figures.

Sectors like tractors, infrastructure, rural financing and information technology are some of the key areas in which the Mahindras would like to register their presence in the state in a big way, Group Vice-Chairman Anand Mahindra told reporters after a meeting with Chief Minister Nitish Kumar here.

"We are a big group and when we will arrive in the state.. it will be in a big way," he said when asked about the quantum of investment proposed by his company. Mahindra said he was "very much impressed by the papers presented by Bihar government officials regarding investment opportunities in the state" and that his company was keen on availing of the "growth opportunity" the state
presents.

Another report suggests that “India Inc is rearranging its investment itinerary with little known investment destinations like Bihar, Assam, West Bengal and Orissa gaining a place on the country's economic roadmap.

An analysis of the recent investments made by big business houses reveal that corporates are getting attracted to these states, long known to have unrealised potential like abundant minerals, sufficient green cover and skilled and cost effective manpower but lagging behind on the investment scene.

Bihar could be a striking example of this shift in the investment paradigm after remaining out of the ambit of the corporates' investment radar for a long time, due to factors like socio-economic backwardness and infrastructure-related issues.