New Delhi Roadshow for ‘Bengal Global Business Summit 2016’
West Bengal, once a laggard amongst states in the country in all economic and social parameters, is now poised to attain the top spot in terms of ease of doing business and attracting large doses of investments. This is exemplified by the fact that during 2014-15 (Quarter-I), West Bengal's Gross State Domestic Product grew by 8.9 per cent compared to 5.7 per cent nationally; and industry sector rose by 6.28 per cent compared to 4.2 per cent at the national level.
This was stated by Dr. Amit Mitra, Minister-in-Charge, Finance, Excise, Commerce & Industries, Public Enterprises, Industrial Reconstruction and Information Technology & Electronics Departments, Government of West Bengal, while speaking at the Investment Roadshow on 'Bengal Global Business Summit 2016' organised jointly by FICCI with the Government of West Bengal in New Delhi on September 7, 2015.
Dr. Mitra said to accelerate industrial growth, the West Bengal government has cut through time-consuming, resource-draining procedures to spur growth. It has embarked upon smart public administration that is crucial for industrial competitiveness and economic growth.
Amongst the industry-friendly measures and assets that investors could cash in on are: low cost of doing business, abundant water and waterbodies, gateway to NE India and to SE Asia; shares boundary with three countries, road/rail/air connectivity, 3 airports - Kolkata, Bagdogra, Durgapur & 2 sea ports - Kolkata and Haldia; chopper services; waterways; huge fleet of inter-city luxury buses, a new town at Rajarhat: the new destination for financial services, urban infrastructure, housing, business capital, etc, a leader in MSMEhighest investments in the sector in the country during 2012-13 and 2013-14, one of the major textile hubs of the country - garment, hosiery, handloom, khadi, silk, headquarters of many major banks, Public Sector Undertakings and big business houses, unique tourist destinations: the Himalayas, the Dooars, Tea Gardens, forests and wildlife, sea beaches; rich cultural and religious heritage, adequate skilled human resource; skill development; technical human resource; 225 ITIs and 140 polytechnics, highest producer of vegetables in the country; among the highest in rice and fruits, tea; largest producer of fish.
The roadshow was a prelude to the next 'Bengal Global Business Summit 2016' scheduled for January 8-9, 2016 in Kolkata. The roadshow aimed at showcasing the huge investment opportunities available in West Bengal in the identified sectors including manufacturing, food processing, MSME & textiles, urban infrastructure & housing, hospitality, tourism & business of entertainment, healthcare, education & skill development, energy & infrastructure, IT software & hardware, financial services and transport.
Dr. Jyotsna Suri, President, FICCI, said that significant reforms in tax policy and tax administration have been introduced in the state for creating a tax-friendly regime. The Government of West Bengal has been recognized for having the best online system for tax by the Government of India. Progressive policies like Investment and Industrial Policy 2013 and other sectoral policies have been received very well by the investors. She added that the roadshow aimed at projecting the investment potential of the state to a cross section of entrepreneurs and investors.
During the roadshow, captains of the industry such as Harshavardhan Neotia, Senior Vice President, FICCI; Sidharth Birla, Chairman, Xpro India Limited; Rajan Bharti Mittal, Vice Chairman & MD, Bharti Enterprises Ltd; Y K Modi, Chairman & CEO, Great Eastern Energy Corporation Ltd; R. V Kanoria, CMD, Kanoria Chemicals & Industries Ltd and Puneet Dalmia, Director, Dalmia Bharat Group, already having established businesses in West Bengal shared their experiences on deciding to invest in the state to inspire other investors and industrialists to follow suit.
R to L: Dr. Amit Mitra, Minister-in-Charge, Finance, Excise, Commerce & Industries, Public Enterprises, Industrial Reconstruction and Information Technology & Electronics Departments, Government of West Bengal; Dr. Jyotsna Suri, President, FICCI; Rajan Bharti Mittal, Vice Chairman & MD, Bharti Enterprises Ltd and Sidharth Birla, Chairman, Xpro India Limited.