Potential investors see a ray of hope in a vision document being prepared by the government for the manufacturing sector.

If things go according to plan, the document could be turned into an industrial policy.

Officials of the department told The Telegraph recently that a committee has been formed under the development commissioner. The team would consult industrialists and entrepreneurs, associated with the sector, to know about the different aspects and features to be incorporated in the document.

“Since late last year, after the Udyami panchayat in September 2013, the government decided to focus more on the manufacturing sector to bring in more investments. Under directions of former chief minister Nitish Kumar, the government had formed a special task force last year comprising senior department officials. This February, the department decided to appoint four independent specialists to look after and work towards the development of as many areas in the manufacturing sector,” a department official said.

The official added: “The specialists would be for leather technology, textiles, plastic and steel. The department believes the sector could bear fruit like that of the food processing sector and wants to come up with a separate policy. The vision document can be said to be the first step in this connection.”

At present, the government has seen maximum investments coming from the food-processing sector. It has a separate policy for the same, in addition to the regular industrial incentive policy.

“A committee under the development commissioner, who heads the State Investment Promotion Board (SIPB), has been formed. The committee would talk to the industrialists to know as much they can about the different aspects. The process regarding appointment of the independent specialists is on and would be finalised soon. The industrialists would be consulted about the problems, solutions, incentives and grants they are looking for among other factors. All the points would be discussed and then the vision document would be formed. It is expected that the document would be completed in a month after which it would be forwarded to the government for approval. The government would start the process of turning the document into a policy once it is approved,” the official said.

According to the SIPB approvals until March 2014, the board has approved 67 proposals related to manufacturing sector with most of them in cement and steel industry.

P.K. Agarwal, the chairperson of the Bihar Chamber of Commerce and Industries, welcomed the move.

“The manufacturing sector has got potential in the state and we have received queries in this connection. If the government is working towards the formation of a vision document followed by a possible policy, it is definitely good news for potential investors,” he said.