Economy of Patna

The economy of Patna got declined since the late 1980s and later the efforts by the government has resulted improvments.[1] Until 19th century Patna became a global trade and commercial hub. The city was a primary hub for textile industries. After independence Patna experienced a huge industrial growth. Various textiles, chemicals and automobile industries were established in the city.[2] During the 17th century Patna was the centre of international trade. The British opened a factory in Patna in 1620 for the purchase and storage of calico and silk. Soon it became a trading point for saltpetre, and other European countries like the French, the Danes, the Dutch and the Portuguese began to compete in the lucrative business. Various European factories and godowns started mushrooming in Patna and it acquired a trading fame that attracted far off merchants, as observed by Peter Mundy in 1632, who calls this place, "the greatest mart of the eastern region".[3]

Pre monsoon sky & sunset across Main boring road, Patna
Gandhi Maidan Marg, one of the major business hubs in Patna

Various European factories and godowns started mushrooming in Patna and it acquired a trading fame that attracted far off merchants, as observed by Peter Mundy in 1632, who calls this place, "the greatest mart of the eastern region". Till late 1980s industries began decline in the region. However the region is bringing economic growth in IT and automobiles sectors.[4][5] The GDP of Patna metropolitan area is US$27 billion.[6]

Industries
Fatuha, an important industrial hub
The Vice President, Shri M. Hamid Ansari at the event to mark the 90th Anniversary of the Bihar Chamber of Commerce and Industry, in Patna
Software Technology Park of India, Patna

IT and BPO

Since 2000s, the information technology and business processing outsource are emerging as one of the major drivers of economic growth in the city.[7] Several companies in the fields of IT and BPO sector have established themselves in the city.[8] An IT park by Software Technology of India (STPI) was established in the late 2000s which further boosted the growth of information technology in the city.[4] The city is sixth largest software exporter in East India next to Kolkata, Bhubaneswar, Dhanbad, Asansol, Durgapur and Jamshedpur.[4] Tata Consultancy Services opened its development center in Patna which give a major boost to the local IT sector.[9] An IT park and IT special economic zone is underway at Bihta, an eastern suburb of the city.[10]

Automobiles

Patna is emerging as one of the global automobile manufacturing industries hub and a large number of automobile companies in the sub-sectors of passenger vehicles, heavy equipments, two wheeler and electric vehicle are in Patna and whole state.[5] Bihar Scooters Factory's foundation was laid by Shri Krishna Sinha, located in Fatuha in Patna district and later closed.[11] The company manufactures scooters and bike. By the establishment of the plant in Fatuha, it grown as a center of automobile industries and Fatuha also grown as an industrial hub and it became a part of Begusarai - Fatuha industrial corridor.[12] Hero company is commissioning a bike and cycle plant in Bihta.[13] Sonalika Tractors have a plant in Fatuha.[14]

Textiles and appearels

Textile industry was largest in Patna during the time of British. Several european and british textile industries were established in Patna. A leather hub was innagurated by Nitish Kumar at Fatuha which will generate and employment for 10000 peoples. The project will lead Fatuha to be a leather manufacturing hub of India.[15]

Special economic zones
  • Software Technology Parks of India at IIT Patna
  • IT SEZ at Bihta
  • Patliputra Industrial Area
  • Bihta SEZ
  • Fatuha Industrial Area

See also

References
  1. "Bihar will soon be counted among developed states with Central help: Nitish Kumar". Hindustan Times. 2020-09-22. Retrieved 2021-11-04.
  2. "About Bihar: Agriculture, Industries, Economy, Growth & Geography". www.ibef.org. Retrieved 2021-11-04.
  3. "Archived copy". Archived from the original on 21 January 2009. Retrieved 2009-01-07.CS1 maint: archived copy as title (link)
  4. Release, ANI Press. "Bihar Govt aims developing IT & ITeS services and electronic manufacturing hub in the state". www.business-standard.com. Retrieved 2021-11-04.
  5. www.ETAuto.com. "Of Bihar and automobiles - AutoLogue by Nabeel A Khan | ET Auto". ETAuto.com. Retrieved 2021-11-04.
  6. Vaibhav, Vikash (2021-03-30). "The old Bimaru states have new boom towns. But only in pockets". ThePrint. Retrieved 2021-11-04.
  7. Mar 27, TNN / Updated; 2021; Ist, 07:41. "Investments in IT sector to grow in Bihar: Minister | Patna News - Times of India". The Times of India. Retrieved 2021-11-04.CS1 maint: numeric names: authors list (link)
  8. "Bihar according priority to IT sector; Will build an IT city – Udyog Mitra". Retrieved 2021-11-04.
  9. "TCS launches new centre in Patna to create new opportunities as part of #DigitalIndia push". www.tcs.com. Retrieved 2021-11-04.
  10. Aug 29, Abhay Singh / TNN / Updated; 2015; Ist, 02:39. "Bihar can become electronics hub: Prasad | Patna News - Times of India". The Times of India. Retrieved 2021-11-04.CS1 maint: numeric names: authors list (link)
  11. Jul 31, Gyan Prakash / TNN /; 2011; Ist, 22:26. "'26 acre land at Fatuha sold for Rs 1.6 crore' | Patna News - Times of India". The Times of India. Retrieved 2021-11-04.CS1 maint: numeric names: authors list (link)
  12. Apr 25, Rajiv Kumar | TNN |; 2014; Ist, 00:24. "Making of Begusarai was by choice, not accident - Times of India". The Times of India. Retrieved 2021-11-04.CS1 maint: numeric names: authors list (link)
  13. India, Press Trust of (2014-08-26). "Hero Cycles' Bihar manufacturing facility comes onstream". Business Standard India. Retrieved 2021-11-04.
  14. "Nitish inaugurates assembly unit of Sonalika tractors". www.bihartimes.in. Retrieved 2021-11-04.
  15. "फतुहा बनेगा लेदर हब 10 हजार को रोजगार". Dainik Bhaskar (in Hindi). 2012-04-25. Retrieved 2021-11-04.
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