bihar: Cm will launch a textile and leather policy tomorrow | Patna News

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Patna: Chief Minister Nitish Kumar will officially launch the Bihar Industrial Investment Promotion (Textile and Leather) Policy, 2022 or Bihar Textile and Leather Policy on Wednesday.
The new policy, approved by the state cabinet on May 26, aims to open new doors for the establishment of textile and leather industries in the state. To this end, the State Industries Department has made several provisions for various types of incentives, including capital investment subsidy, job creation subsidy, electricity tariff subsidy, a freight reimbursement incentive, patent registration and a skills development grant.
“With all these provisions such as interest subsidy on loans, reimbursement of SGST, exemption from stamp duty, registration and exemption from land conversion, enterprises in the leather sector and textile industries will certainly be attracted to invest in Bihar,” said Industry Minister Syed Shahnawaz Hussain. reporters on Monday.
Shahnawaz said after the ethanol policy, investors approached for the textile and leather policy. “It seems that textile companies see Bihar as the best investment destination. We have enough land. The Chief Minister gave the closed sugar mills and an additional 2800 acres of land to the Department of Industries. We want to provide land for textile companies coming to Bihar with plug and play facilities, so that industries can get established at a faster pace,” he said.
“It seems, for the first time, that the intention of people in the textile and leather industry across the country is to invest in Bihar. We made the best policy in the country,” he added.
The minister further said that Bihar will become an important textile hub in the country. “Only Bihar can compete with countries like Bangladesh and Vietnam in the textile sector,” Shahnawaz said. He added that Bihar’s greatest strength is its skilled workforce. He said in textile companies across the country, including Tiruppur, Surat, Ahmedabad, Mumbai and Chandigarh, most of the skilled or semi-skilled workers are from Bihar.
“The population of Bihar is 14 crores but whatever company invests in Bihar will get a big market for the population of about 54 crores in neighboring countries like Nepal, Bhutan and northern states -is. Now we have given another slogan of ‘Now come back to Bihar’. It is for those who are from Bihar but doing big business in other parts of the country or overseas,” Shahnawaz said.
The Minister of Industry affirmed that industrialists coming to Bihar will be welcomed on the red carpet. “We work a lot on the ease of doing business. We provide land and other necessary things not in months, weeks or days but in hours,” he said.
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