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Cool Bihari: Corporates show interest in Bihar's market

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Corporates show interest in Bihar's market

Bihar is seeing a flurry of business activity, with big corporate houses lining up major investment plans in the state. While Mahindra & Mahindra (M&M) group is planning to set up a food processing plant in the state, Sonalika Tractors is all set to invest Rs 130 crore in a tractor plant. According to state officials Max Healthcare chairman Analjit Singh is also in talks to set up a multi-specialty hospital.

“We have approved land allotment to Sonalika Tractors. Other two proposals are being processed,” a Bihar government official told ET. M&M is planning to set up an agro-processing plant for litchi in Bihar. The state boasts of 71% of India’s total litchi produce.

For enabling private sector investments in the state, Bihar government has created a land bank. “The companies interested in investing in the state may approach the land bank and according to their need, they may select any plot,” said the official.

The state has also set up a revolving fund of Rs 200 crore for encouraging investments in the state. The government has already identified 1,000 acres at Bihtaand and Hazipur, and 200 acres in Begusarai. The state government has also introduced the new Industrial Incentive Policy to incentivise companies. “The policy provides for 80% VAT exemption for 10 years. It also provides for exempting start ups from luxury tax for at least seven years,” the official said.

It is understood that the state government is keen on Max’s proposal. “Good healthcare facilities are the need of hour for the state,” he said. According to the recent All Indian Institute of Medical Sciences (AIIMS) study, about 70% of the population in Bihar visit the hospital for treatment.

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