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Better foundation for biz future

Members of the Bihar State Industrial Investment and Advisory Council, comprising 19 top industrialists of the country, have requested the state to concentrate on the information and communications technology, skills development and higher education sectors.

The move is aimed to boost industrialisation in the state and suggest measures to attract proper investments.

“Recently, the industries department held a video conferencing session with some of the council members. They suggested the state to concentrate on sectors such as information and communications technology, skills development and higher education. A draft report would be prepared based on the suggestions, which include the study of success stories in other states, and then forwarded to the chief minister. If it gets approved, work on these fields would start on the same lines,” a department official, preferring anonymity, told The Telegraph.

The state government formed the council in August last year under chief minister Nitish Kumar’s chairmanship after making an announcement on June 30.

The representatives from the business fraternity include HDFC chairman Deepak Parekh, Infosys chairman K.V. Kamath, State Bank of India chairman Pratip Chaudhuri, Vedanta Group working president Anil Agarwal, ITC chairman Y.C. Deveshwar, Godrej and Boyce Manufacturing Co. Ltd. CMD Jamshyd N. Godrej, Hindustan Unilever chief executive officer (CEO) and managing director (MD) Nitin Paranjpe, Tata Sons director (finance) Ishaat Hussain, Tata Consultancy CEO N. Chandrasekaran, Axis Bank MD and CEO Shikha Sharma and Max India chairman Analjit Singh.

Apart from them, Indian Council for Research and International Economic Relations chairperson Isher Judge Ahluwalia, senior faculty of National Institute of Public Finance and Policy Sudipto Mundle, Asia Pacific region of Boston Consultancy Group chairman J. Sinha and Sebi chairman U.K. Sinha are also members of the council.

Sources said the council had advised the industries department to try drawing inspiration from Karnataka, which has done a good job in developing the select fields.

“Though other successful model states would also be studied, Karnataka tops the list the council has recommended to the state. The state would study the Karnataka model properly. The draft report would include points concentrating on ways to improve these sectors and to introduce new ideas to ensure success in these fields. The report would be a complete one dealing with all important points. Once approved by the state government, work on the same would begin and a formal approval would be sought from the cabinet,” said another department official.

Sources said work on the draft report would start shortly and the final report once presented, would be announced. ICT focuses on the proper study and development of information technology.