Bihar CM to launch Textile and Leather Policy on June 8

Patna, June 7 (KNN) The Bihar Textile and Leather policy 2022 will be formally launched by Chief Minister Nitish Kumar on June 8.

The Bihar Industrial Investment Promotion (Textile and Leather) Policy, which was approved by the state cabinet on May 26 aims to open doors for the establishment of textile and leather industries in the state.

The state industries department has made several provisions for various types of incentives, including capital investment subsidy, employment generation subsidy, power tariff subsidy, freight reimbursement incentive, patent registration and skill development subsidy. 

Industry Minister Syed Shahnawaz Hussain said “the provisions such as interest subsidy on loan, reimbursement of SGST, exemption on stamp duty, registration and exemption on land conversion, companies from the leather and textile sector will definitely be an attraction for investment in Bihar.”

The industry minister claimed that the industrialists coming to Bihar will be given a red carpet welcome. “We are working a lot on ease of doing business. We are providing land and other things required not in months, weeks or days but in hours,” he said.  (KNN Bureau)