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Saturday, 11 June 2022

Bihar CM assures complete support to textile investors

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Bihar Chief Minister Nitish Kumar has said that industrial development in the state had taken off in a big way now and the state will support the investors completely.

Launching the textile and leather policy of the state, at the investors’ meet in Patna, the CM said it’s a good sign that investors are coming to Bihar, adding “it would lead to employment generation.”

He urged people to stay back in the state and look for employment and self-employment avenues following their return from other states during the Covid-induced lockdown.

Taking about Bihar Textile and Leather Policy, 2022, he said the Government would give 15 per cent subsidy that can go up to Rs. 10 crore for setting up an industrial unit.

There would be Rs. 2 per unit electricity subsidy and a worker will also get a monthly grant of Rs. 5,000 for five years. Besides, there would be 30 per cent transportation subsidy,in addition to Rs. 10 lakh carriage (of raw and finished materials) subsidy annually for five years.

Industry representatives were also present on this occasion. Sanjay Jain, MD, TT Limited, who was also present there, said that the best part is that Bihar is one of the few states to pay incentives on time and now has a clear land bank at the industry’s beck-and-call.

Source : https://in.apparelresources.com/