India Inc bets on Bihar, Orissa, Assam

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New Delhi: India Inc is rearranging its investment itinerary with little known investment destinations like Bihar, Assam, West Bengal and Orissa gaining a place on the country's economic roadmap.

An analysis of the recent investments made by big business houses reveal that corporates are getting attracted to these states, long known to have unrealised potential like abundant minerals, sufficient green cover and skilled and cost effective manpower but lagging behind on the investment scene.

However, the recently acquired investor-friendly attitude of the state governments, availability of resources, better accessibility and tax incentives are driving capital investments to these states.

Bihar could be a striking example of this shift in the investment paradigm after remaining out of the ambit of the corporates' investment radar for a long time, due to factors like socio-economic backwardness and infrastructure-related issues.

However, Bihar has recently played host to a number of big brothers of corporate India, like Ratan Tata of the Tata group, Max Healthcare Chairman Analjit Singh and Ashok Ganguly of call centre firm ICICI OneSource, while others like Mahindra and Mahindra's Anand Mahindra and Singapore's foreign affairs minister slated to visit the state soon.

Tata Group chairman Ratan Tata, who also holds the position of Investment Commission Chairman, said during his recent visit to Patna that the state offered great opportunities in areas of infrastructure, health, tourism, education, urban development and agriculture.

Given the huge potential in the tourism sector, the Tata group is also believed to be exploring the possibility of launching a range of low-cost hotels in the state.

M&M Vice Chairman Anand Mahindra is also scheduled to visit the state soon and is said to be mulling over the possibility of a tractor production plant in Bihar. Max Healthcare too is looking to set up a super-specialty healthcare centre and hospital in the state.

The Max Healthcare proposal holds significant promise since more than 50 per cent of the patients coming to New Delhi's All India Institute of Medical Sciences (AIIMS) are said to be from Bihar.