Patna: Bihar CM Nitish Kumar on Wednesday said the business environment in Bihar has improved a lot in the last few years and the state is getting a good response from the industry. Nitish Kumar, while inaugurating the Investors' Meet-cum-Bihar Textile and Leather Policy - 2022, said that the new policy will greatly benefit the investors setting up industries in Bihar. He said the state will soon become a major textile hub of the country.
Addressing the Investors' Conference at the Convention Hall in Patna, he said that the Bihar government will ensure that Bihar becomes the first choice of investors in the coming years. We are operating in many areas, which can attract investors on a large scale. He said that under the new policy, 15 per cent of the cost will be given a grant on capital investment for plant and machinery, up to a maximum of Rs 10 crore. In addition, it has been decided to increase the grant of electricity charges to Rs.2 per unit. The employees working in the industry will be given a grant for 5 years at the rate of Rs 5,000 per month. Units connected for export will be given 30 per cent transport subsidy.
He said that under the new policy, a grant of Rs 10 lakh will be given every year on freight movement for five years. A grant of 50 per cent of the registration expenses will be given on patenting your product, subject to a maximum of Rs 10 lakh. He said that in the coming time, there will be rapid industrial development in Bihar. On the occasion, he also praised the work of Industries Minister Shahnawaz Hussain. Nitish said, "Bihar has a glorious past. Work all together to get it back. All of you help in taking Bihar forward. "
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