Trade Analytics

Industrial Development & Economic Growth in Bihar

Latest update: November, 2016

Economic Snapshot: GSDP of Bihar

Bihar's gross state domestic product (GSDP) was at US$ 66.4 billion over 2014-15.

Economic Snapshot: GSDP of Bihar

Economic Snapshot: NSDP of Bihar

Bihar's net state domestic product (NSDP) was at US$ 61 billion over 2014-15.

Break up of outstanding investments in Bihar

 

November, 2016

Bihar is one of the fastest growing states in India. The economy of Bihar is projected to grow at a compound annual growth rate (CAGR) of 13.4% during 2012-2017 i.e. the 12th Five-Year Plan. Bihar has witnessed strong growth in per capita net state domestic product (NSDP). At current prices, per capita NSDP of the state grew at a CAGR of 12.3 per cent during 2004-05 to 2015-16. Bihar is the largest producer of vegetables and the second-largest producer of fruits in India. Bihar has high agricultural production making it one of the strongest sectors of the state. About 80 per cent of the state’s population is employed in agriculture, which is much higher as compared to India’s average. The state has a large base of cost-effective industrial labour, making it an ideal destination for a wide range of industries. The state enjoys a unique location specific advantage because of its proximity to the vast markets of eastern and northern India, access to ports such as Kolkata and Haldia and to raw material sources and mineral reserves from the neighbouring states. Major initiatives taken by the government to develop Bihar are:

  • The Government of Bihar has approved 224 food processing projects in FY 2015.
  • In 2015, the central government approved an FDI project worth US$ 396.03 million for manufacturing world class diesel and electric locomotive factories in Bihar.
  • Under Jawaharlal Nehru National Urban Renewal Mission (JNNURM), eight projects costing US$ 118.08 million have been sanctioned for urban centres such as Patna and Bodh Gaya. The key areas of development are solid-waste management system, water supply and sewage.
  • In the 2016-17 budget, capital outlay of US$ 863.26 million was proposed for the development of roads and bridges in the state.
  • The Bihar government is preparing a 20-year master plan for promotion and development of tourism in the state.
  • Construction work of 2,232 km national highways through the state funds, 2,104 km state highways under National Development Scheme and 251 km roads under the state plan was completed during 2015-16.
Bihar State Presentation

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Bihar Map

Bihar