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Bihar to Get Two Special Economic Zones, Boosting Industrial Growth

By Neeraj Kumar

Patna: The state government’s persistent efforts toward the industrialization of Bihar have achieved a significant milestone. The Ministry of Commerce and Industry, Government of India, has agreed to establish two Special Economic Zones (SEZ) in Bihar. Inspections conducted by Falta SEZ on June 26 and June 27, 2024, deemed Kumarbagh in West Champaran and Navanagar in Buxar suitable for SEZ development. Bihar’s Industry and Tourism Minister, Nitish Mishra, shared this information on social media.

In his social media post, Nitish Mishra highlighted that the demand for a special economic zone in Bihar has been longstanding. He met with Piyush Goyal, Minister of Commerce and Industry, in New Delhi to address the absence of SEZs in Bihar and advocated for their development. Following their discussion, the ministry inspected the proposed sites and approved them for SEZ status.

Mishra mentioned that some formalities remain in the final proposal for setting up the SEZs. BIADA (Bihar Industrial Area Development Authority) will provide the necessary land-related documents. Once the required processes are completed, the proposal will be sent to the Board of Approval for final consent. The establishment of SEZs in Bihar is expected to herald a new era of industrial growth, attracting large industrial units from both domestic and international investors and boosting employment.

Previously, Nitish Mishra had written to Union Commerce and Industry Minister Piyush Goyal, urging the establishment of SEZs in Bihar. He emphasized that SEZs would enhance economic development, attract capital investment, and generate employment opportunities.

Bihar has an abundant human resource base but has faced challenges in attracting significant investment and realizing its full economic potential. The establishment of SEZs is anticipated to drive economic diversification by promoting industries beyond traditional sectors like agriculture, thus reducing reliance on any single sector.

 

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