Revelations of retail plans of the Department of Posts and that of noted film-maker Prakash Jha were the high points on the second day of the India Retail Forum exhibition being held here.
While the Department of Posts plans to develop vacant space in post offices for retail, filmmaker Jha revealed that he would develop 19 malls in Bihar and Jharkhand.
"We plan to develop 1,800 plots and space running into lakhs of square feet for retailing," S. Samant, CGM (Business Development), Department of Posts, disclosed. Tenders would soon be invited and a post office retail model would be developed purely on PPP (public private partnership) basis just as the Railways and airports have.
Striking a rather interesting note, film-maker Prakash Jha disclosed his plans to develop 19 multiplex-cum-malls in Bihar and Jharkhand.
The question of Why Bihar brought smiles to many a faces. "Bihar and Jharkhand are a picture of contradiction for all. While the place, that was once a golden state, has the best brains and has been known for mineral riches, it always brings a scowl on the faces of investors because of the lawlessness that prevails," he said.
"With the coming in of the new government, the quantum of Bihar budget has tripled to Rs 53,000 crore. It is here where I see the opportunity," he said.
"Remember, Bihar is now to rest of India what India was to the rest of the world not long ago. But the scenario is changing," he said.
Jha said they had acquired 19 pieces of realty and the work was in progress in three of those. "We have already signed up with Adlabs for putting up screens," he said.
"Talks are on with the FIPB for tax sops," Jha said. "We will rent out the outlets for farmers as well as open quite a few e-centres," the filmmaker said.
He advised investors to start looking at other southeastern and eastern states like Orissa, West Bengal and Bihar.
By- Tribune, 06-09-07
