BGBS 2019 saw a sharp rise in business proposals at Rs 2,84,288 crore, with a total of 36 countries participating in the event that hosted B2B meetings and networking lunches

became weary of investing in Bengal and the loss of man-days reached a staggering 75 million. The country’s first automobile manufacturing company, Hindustan Motors, was closed, followed by Dunlop. Bengal was famous for its hosiery industry and bulb manufacturing industry. Due to militant trade unionism, the hosiery industry shifted to south India and the bulb manufacturing industry went to Kanpur. The micro, small and medium enterprises (MSME), which was the backbone of small-scale industries in Bengal, also received a major setback.

Amid this crisis, Mamata Banerjee assumed power in Bengal in 2011, bringing 34 years of communist rule to a jolting end. Restructuring industry was her toughest undertaking, as the new Bengal government had to rebuild confidence among industrialists. To attract global players in industry and showcase the uniqueness and opportunities in Bengal, Mamata Banerjee initiated Bengal Global Business Summit in 2015.

While appealing to industrialists, Mamata Banerjee reminded everyone in BGBS 2019 of Bengal’s array of geographical advantages. It is the gateway to Bangladesh, Nepal, Bhutan and North-east India, and is also the centre of business activities in eastern India. It takes only 45 minutes to reach Bangladesh by air. While reaching Nepal or the far east takes anything between one hour to four hours by air. One can even reach Dubai within five hours, she maintained. “Thus, investing in Bengal will help you have your grip over such a big hinterland,” she remarked.

Investment proposals have witnessed a steady rise over the past five years. In 2015, BGBS had witnessed Rs 2,43,100 crore worth business announcements alongside the participation of 20 countries. In 2016, Rs 2,50,253 crore business announcements had been made from 26 countries.