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Bihar to hire professional consultants to augment investments

Patna: The Bihar government has decided to bring professionalism to the industries department to provide ease of doing business to investors, entrepreneurs and young men and women coming up with bright ideas for start-ups.

The department will float a “request for proposal (RFP)” to hire a professional service and consulting company to guide investors.

“We are coming out with an RFP within a week and intend to hire a suitable professional company or institution by the end of this year. The selected one will have to interact, guide and handhold investors and entrepreneurs who want to set up units in Bihar,” principal secretary, industries, S. Siddharth said.

He added that his department will ensure that professional service companies such as KPMG, Deloitte, Ernst and Young (E&Y), PricewaterhouseCoopers (PwC) or similar big names in the sector are hired for the job.

“The ‘single window system’ to grant approval to investment proposals coming to the State Industrial Promotion Board (SIPB) will be manned by the hired professional body with whom entrepreneurs will interact freely,” he said.

The move follows chief minister Nitish Kumar’s assurance that the government was committed to putting in place an effective single window system to facilitate clearances for private investments.

Siddharth said a state-of-the-art office has been reserved for the purpose at Indira Bhavan.

Over 500 investment proposals worth Rs 5,000 crore have already reached SIPB for clearances under the new Industrial Investment Promotion Policy.

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