Bengal best for industries: Finance min

Kolkata: Highlighting the infrastructural development the state has witnessed in the past few years, the state Finance minister Amit Mitra said: "Bengal has come up as the best destination to invest with the state's position in ease of doing business index improving drastically."

Mitra was speaking at a programme, "Bengal – Accelerating Growth", organised by Bharat Chamber of Commerce, Calcutta Chamber of Commerce, CREDAI Bengal, Howrah Chamber of Commerce and Industry, Merchant's Chamber of Commerce and Bengal Chamber of Commerce and Industry on Tuesday at Uttirnya.

Mitra said Bengal has come up as the fourth largest economy in the country. "When we took over the office in 2011, the GDP was 4.5 lakh crore and now it has gone up to 10 lakh crore, which is more than double."

He said: "Partha Chatterjee was the Industry minister in a very difficult time and that was the building period for industrial sector in Bengal. Then I took cue from him."

Chatterjee was also present in the programme. He said Bengal is the best state in the country for investment.

"One of the best things of measuring industrial growth is bank lending. Since we came to power, Rs 1,82,026 crore bank lending took place in between 2011-12 and 2016-17. It includes bank lending of micro and small industries worth Rs 94,153 crore,

medium industry Rs 36,672 crore and large industries took Rs 51,200 crore, which gives an indication that industry of all scales are working in

tandem in the state," Mitra said adding that moreover the outstanding credit in March 2010 was Rs 1,63,000 crore in Bengal while in 2017 it is Rs 4,18,000 crore.

Taking cue from the shifting of Under-17 World Cup from Guwahati to Kolkata, Mitra said: "Just like the Under-17 match, investments too will flood Bengal very soon."

Three important factors of ease of doing business are single window system, online services and time bound services.

He further said: "As on October 23, 2017, West Bengal is placed in the third position in Department of Industrial Policy and Promotion (DIPP) which was in the 15th position earlier as we have already complied with 333 points. Bengal has already complied with 333 points out of 372 for ease of doing business and it has been recognised by DIPP. From this year, only 50 percent of the rating is based on these points and now they would do a survey based on which the remaining rating will be done."