Bihar Touted as Undiscovered Gem for Investment by Piyush Goyal

Union Commerce Minister Piyush Goyal recently described Bihar as an undiscovered treasure, expressing optimism about the state's future. He noted that past issues related to law and order, corruption, and arson had hindered its progress. However, he emphasised that transparency is now a key focus in the state.

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Speaking at a CII event ahead of an investor summit in December, Goyal praised Chief Minister Nitish Kumar for transforming Bihar's image and reality. He urged industries to explore opportunities in Bihar, highlighting its potential. "Bihar is one of those hidden gems which has not been discovered by the world," he said, encouraging businesses to invest soon.

Bihar's Potential and Advantages

Goyal pointed out that Bihar, the second most populous state in India, has several advantages, including a young population. He mentioned that more people are choosing to stay in their villages, which could attract industries looking for opportunities. The minister expressed confidence that investors from financial hubs would soon recognise Bihar's potential.

Earlier in the day, Goyal attended the Board of Trade meeting held for the first time in the financial capital. Discussions focused on increasing exports to USD 2 trillion by 2030. The minister also announced the launch of two new portals aimed at improving trade facilitation.

New Initiatives for Trade Facilitation

The newly launched portals include a grievance or clarification platform with video conferencing for the Directorate General of Foreign Trade and an enterprise resource portal by Export Credit Guarantee Corporation. These initiatives are part of the ministry's 100-day plan to enhance efficiency and transparency.

Goyal credited Chief Minister Nitish Kumar for changing Bihar's landscape and improving its image significantly. He believes that with continued efforts, Bihar will attract substantial investments and achieve remarkable growth.