Last updated on Jun, 26 2020
BIHAR State Report | June, 2020
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.
The Gross State Domestic Product (GSDP) of Bihar will increase at a CAGR of 13.17 per cent between 2015-16 and 2020-21. The per capita GSDP of Bihar increased at a CAGR of 12.91 per cent (in Rs) between 2015-16 and 2018-19.
Bihar is one of the strongest agricultural states. The percentage of population employed in agricultural production in Bihar is around 80 per cent, 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.
The state has a large base of cost-effective industrial labour, making it an ideal destination for a wide range of industries.
Total Foreign Direct Investment (FDI) for Bihar and Jharkhand stood at US$ 119 million between April 2000 and March 2020. In 2019, eight investments were filed in the state worth Rs 671 crore (US$ 96.01 million). During 2019-20 (up to Dec 19), export from the state stood at US$ 1,260.15 million.
Note: * - 1st Advance Estimates, P – Provisional, ^-3rd advance estimate