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Nalini Ranjan, Patna. Bihar, the major state of Eastern India, is now rapidly creating its own identity in the economic and export scenario of the country. Evidence: In the Export Readiness Index (EPI) 2024 released by NITI Aayog, Bihar has jumped three places from 19th to 16th position.
Bihar's Gross State Domestic Product (GSDP) in FY 2024 stands at Rs 8.5 lakh crore, showing an average annual growth rate of about 11 per cent in the last eight years. This progress is believed to be the result of active government policies focused on improving agricultural productivity, industrial expansion and export promotion.
Petroleum oil ranks first in exports. At the same time, meat is at second place and petroleum gas is at third place. Begusarai district ranks first in the state due to petroleum products. Due to meat production and maize, Araria is at second place and West Champaran is at third place. Explosive propellant powders are exported from the ordnance factory at Rajgir in Nalanda.
Better resource development, need to remove problems of entrepreneurs
Senior advisor of NITI Aayog, Sanjit Singh says that there has been rapid development of infrastructure and resources in Bihar. Now, if Uttar Pradesh model of Easy Doing Business is also implemented here, the exporter index will increase rapidly. He told that there is no shortage of resources in Bihar. Work is also getting better here. Now the need here is just to fulfill the small needs of the entrepreneurs. Hold meetings with them from time to time, understand their problems and resolve them, which will lead to dramatic improvement in the situation.
Agriculture and petroleum become the basis of export
Agriculture is still the strong base of Bihar's economy and exports. Rice, wheat, maize and baby corn produced in the fertile Gangetic plains contribute significantly to the state's export revenues. At the same time, Shahi Litchi of Muzaffarpur, which has received the GI tag, has become a symbol of Bihar's agricultural identity in the global market. Agricultural exports have registered significant growth in the last 15 years.
Along with this, Barauni Refinery located in Begusarai has given new strength to the export of petroleum products. This refinery, operated by Indian Oil Corporation Limited, is today producing many products including diesel, petrol, LPG, bitumen with a capacity of 60 lakh tonnes per annum, which are also exported to neighboring countries like Nepal.
Gained strength from export promotion policy
Under the Bihar Export Promotion Policy 2024, the state government has made arrangements to provide one percent subsidy on FOB price to exporters, performance based additional incentives, and special benefits to women, SC/ST and physically handicapped exporters. Along with this, the export environment is being strengthened through awards, buyer-seller meetings and promotion of GI and ODOP products. Under the One District One Product (ODOP) scheme, products like Bhagalpur silk, Madhubani painting and Darbhanga Sikki handicrafts are being linked to the global market, thereby increasing the income of artisans and small producers.