State industries minister Jai Kumar Singh on 21st March said conducive law and order was not the only prerequisite for attracting investors. Had it been so, Mumbai, the financial capital of the country, with its history of underworld dons would never have attracted so much investments.
“Mumbai is on the seaside and waterways is the cheapest mode of importing and exporting goods. But Bihar is landlocked,” the minister said at the 3rd Bihar Entrepreneurship Summit held at Adhiveshan Bhawan. “This is the reason why CM Nitish Kumar wants special category status to Bihar as tax benefits will definitely encourage companies to invest in the state,” he said.
The minister pitched for the need of economic revolution and said the state government was focusing on small and medium industries and traditional businesses. “Our department is also working on an easy and simple single-window system for investors, as many had to return due to the long and tiring paperwork,” he said. ‘Udyog Samvad’, an online platform for direct dialogue between state industries department and entrepreneurs, was also launched at the event. The initiative aims at resolving the issues of new as well as existing entrepreneurs in the state and will be monitored on daily basis by state industries department principal secretary.
State cooperatives minister Alok Kumar Mehta pitched for the need to strengthen the production economy of Bihar. “Only opening showrooms does not reflect industrial development. Unless the manufacturing sector grows, Bihar’s economy will keep flowing outside,” Mehta said.