An oil refinery in Barauni, a scooter plant at Fatuha, a power plant at Muzaffarpur, the famous mines at Dhanbad or various agriculture-based industries such as sugar and vegetable oil make up for the state of Bihar’s underplayed richness. Further, several ancient monuments that manifest the state’s 3,000 years old history are spread all over Bihar and attract millions of tourists all over the world.
1. PRIME MINISTER’S EMPLOYMENT GENERATION PROGRAMME (PMEGP): It’s a credit-linked subsidy program to generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures/projects/micro enterprises.
2. Udyog Mitra, Department of Industries, Government of Bihar provides entrepreneurs with Single Window Assistance in dealing with different Government departments. Preparation of project profiles for small scale industries and large & medium industries, regarding the sources on capital finance, machinery etc. for entrepreneurs. They also provide guidelines to the prospective entrepreneurs. See the procedure of setting up an enterprise.
3. MSME Schemes: Few schemes are as under:
- Credit Linked Capital Subsidy Scheme (CLCSS)– 15% Upfront Subsidy on Machinery
- Credit Guarantee Trust for MSE (CGTMSE)
- Quality Management System/Quality Technology Tools (QMS/QTT)
- Lean Manufacturing
- Design Clinics
- Support for Entrepreneurial and Managerial Development of SMEs through Incubator
4. Bihar Entrepreneurs Association (BEA): They provide a platform for new enterprises, start ups and potential entrepreneurs from the state to establish a successful business. BEA works under guidance and in collaboration with the Department of Industries, Govt. of Bihar, MSME Dept, many National and International Organizations.
Their project Bihar Start-Up Yatra is biggest Entrepreneurship Campaign in the Country covering almost 200 institutions in all 38 districts and 40,000 interactions with potential entrepreneurs/people with ideas and proposals.
5. MSME DI, Patna: The main aim of this Institute is economic up gradation and employment generation through Industrial development. They also provide guidance to existing and prospective entrepreneurs along with schemes offered by the ministry.
6. Project Management Association Bihar: PMA is responsible for identification of entrepreneurs, assisting them in selection of suitable projects according to their strength, and place them appropriately. http://industries.bih.nic.in/Documents/PMA-Info.pdf
In Summary – Bihar and Entrepreneurship:
Entrepreneurship in Bihar has an unequivocal potential to emerge as a vibrant sector that is responsible for the industrialization of rural & backward areas, and the consequent reduction of regional imbalances, economic upgradation and employment generation. To augment the Government’s efforts to boost investment and attract investors, the youth must show the initiative and fearlessness that creates a suitable environment for personal and regional growth.
To know more about how Bihar is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Bihar:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.