Bengal kicks off rally for global biz summit

State Finance Minister Amit Mitra said 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 and industrial sector rose 6.28 per cent compared to 4.2 per cent at the national level.

Mitra said the Bengal government has cut through time-consuming and resource-draining procedures in order to accelerate industrial growth. It has embarked upon smart public administration that is crucial for industrial competitiveness and economic growth. The road show was the run-up to a global business summit which is scheduled on January 8 and 9, 2016 in Kolkata.          

The road show aimed at highlighting the huge investment opportunities available in West Bengal in the identified sectors including manufacturing, food processing, MSME and textiles, urban infrastructure and housing, hospitality, tourism and business of entertainment, healthcare, education and skill development, energy and infrastructure, IT software & hardware, financial services and transport.  

FICCI president Jyotsna Suri said significant reforms in tax policy and tax administration have been introduced in the state to create a tax-friendly regime. West Bengal has been recognised by the Government of India for having the best online system for tax. Progressive policies like Investment and Industrial Policy 2013 and other sectoral policies have been received well by the investors. She said the road show was organised to project the investment potential of the state to a cross section of entrepreneurs and investors.

Mitra along with top state bureaucrats had an open discussion with six industrialists namely — Harshavardhan Neotia of Ambuja Neotia Group, Sidharth Birla of Xpro India, Rajan Bharti Mittal of Bharti Enterprises, YK Modi of Great Eastern Energy Corp, RV Kanoria of Kanoria Chemicals & Industries and Puneet Dalmia of Dalmia Bharat Group.

Senior officials of West Bengal government including S Kishore, principal secretary of Commerce and Industries; Debashis Sen, principal secretary of Urban Development Department and Krishna Gupta, managing director of WBIDC also interacted with potential investors.