Bihar is located in the eastern part of India. The state is surrounded by Nepal in the north, West Bengal in the east, Uttar Pradesh in the west, and Jharkhand in the south. 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.
In 2022-23, Bihar’s GSDP at current prices is projected to be Rs. 7.45 trillion (US$ 97.39 billion). The state’s GSDP expanded at a CAGR (in Rs.) of 10.43% between 2015-16 and 2022-23.
Bihar has witnessed strong growth in per capita net state domestic product. At current prices, per capita NSDP of the state grew at a CAGR of 10.73% (in Rs.) between 2015-16 and 2020-21.
Bihar is one of the strongest agricultural states in the country. The percentage of population employed in agricultural production in Bihar is around 80%, which is much higher than the national average. It is the fourth largest producer of vegetables and the eight largest producers of fruits in India. Food processing, dairy, sugar, manufacturing, and healthcare are some of the fast-growing industries in the state. The state has planned initiatives for the development of other sectors such as education and tourism, and also provides incentives for information technology and renewable energy projects.
The state has a large base of cost-effective industrial labour, making it an ideal destination for a wide range of industries.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows in Bihar were valued at US$ 167.09 million between October 2019-December 2021.
Total merchandise exports from the state stood at US$ 2,080.86 million in 2021-22 (until February 2022).
Bihar’s rapid GDP growth and prompt strides in health and education sectors provides great potential under the One District – One Product (ODOP) programme to contribute to India’s rising exports, stated Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles.
Dr. Harsh Vardhan, Union Minister for Health and Family Welfare inaugurated six new ‘Outreach Service Centres for Communication Disorders' across the country by All India Institute of Speech and Hearing (AIISH), Mysuru.