The recent Bihar Investor Summit 2024 saw a number of major announcements in the renewable energy sector, with NHPC pledging to invest Rs 5,500 crore, IOC announcing an investment of Rs 21,000 crore for refinery expansion, and NTPC revealing plans for a nuclear project. The Adani Group also announced a major investment of Rs 20,000 crore in a power plant in the state. With a focus on boosting industrial growth, the summit showcased Bihar's potential for investment in the renewable energy sector, particularly in fields like manufacturing and leather industry. The state has already attracted over 3,800 industry proposals, as confirmed by the Chief Secretary.
The state of Bihar has recently attracted a whopping Rs. 36,000 crore investment from 238 companies, strengthening its position as a major business hub. This includes plans by AVPL International to build a drone manufacturing facility, further boosting the state's economy and job market. In addition, other states like Odisha and Tripura have also approved significant investments, with experts like Raghuram Rajan emphasizing the need for more labor-intensive industries in the country.