Foreign investment and technology
by Overseas Corporate Bodies (OCBs) and NRIs would be
encouraged in selected sectors, such as infrastructure,
power, mineral development, telecommunication and frontier
technologies in field of non-renewable energy sources,
environmental protection, food processing, bio-technologies;
tissue culture, pharmaceuticals (Life saving drugs)
etc. on mutually advantageous basis.
NRI investment with a minimum
contribution of 50% in share capital of the venture
would make the unit entitled for all benefits extended
to a EOU.
In the changing economic scenario
the State realises the importance of exports for economic
development and therefore, proposes various measures
to boost export from Bihar. At present large quantities
of minerals, metals leather, silk as also manufactured
items are exported from the State. With a view
to giving a boost to exports the Government proposes
to form a State level Export Development Council which
will be headed by the Minister, Industries with wide
representation from the Industry and commerce. This
Council will be the main body to direct, promote and
monitor all the export related activities in the State.
Sales Tax benefits play an important
role in attracting and directing investment and in sustaining
industrial development in a State.
Sales Tax
on Purchase of Raw Materials
New Units will be allowed the
facility of either "Set Off" or "Exemption" at their
choice, on purchase of raw materials within the State.
New units opting for deferment of Sales Tax on sale
of finished goods (vide para 16.2) will, however, be
eligible for "Set off " only on purchase of raw materials.
The period of exemption for new units will be limited
to 10 years for category 'A' and 8 years for Category
'B' Districts from the date of commencement of production
of the unit.
