New Delhi Road­show for ‘Ben­gal Global Busi­ness Sum­mit 2016’

FICCI Business Digest - - In Focus -

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.

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