Industry commits ~2-trn biz deals

The two-day annual business event, Bengal Global Business Summit, showcasing West Bengal as a favourable investment destination, ended with investment proposals to the tune of ~2.19 trillion, with major conglomerates like Reliance Industries (RIL), JSW Group, Adani Group, RPSanjiv Goenka Group, and several others expressing willingness to invest in the state.

Even though the number was lower than last year’s ~2.35 trillion, West Bengal Chief Minister Mamata Banerjee said the figure would increase. The chief minister was pleased. In her concluding remarks, she stated: “That’s why everybody is saying it’s the Best Bengal. Yes, we are delighted.” On Tuesday, in his speech, RIL Chairman and Managing Director Mukesh Ambani had said: “Didi, under your leadership, West Bengal is becoming Best Bengal.”

If the stars of the inaugural session of the Bengal Summit were Ambani, ArcelorMittal Chairman and Chief Executive Officer L N Mittal, and JSW Group Chairman Sajjan Jindal, the concluding day belonged to Pranav Adani, director, Adani Enterprises.

Adani said he would like to replicate what the group had done in Mundra port in Bengal. The Adani group had revolutionised the entire port scenario in the state. He also wanted to participate in the renewable energy sector. The Adani Group also planned to invest ~7.5 billion in the state to double the capacity at its Haldia plant, from the current 1,600 tonne, while scaling up the packaging business from the current 1,200 tonne to 1,800 tonne. However, the investment proposals of ~2.19 trillion only include concrete proposals.