‘Bengal’s MSMEs poised as nat’l growth engines’

Kolkata: Additional Chief Secretary of Bengal’s MSME and Textiles Department, Rajesh Pandey, said on Thursday that the state’s MSMEs serve as growth engines for the entire nation, citing Bengal’s strategic position as the gateway to the North East and South East Asian countries.

“When we talk of the Indo-Pacific region, no talk will be complete without Bengal because of its strategic location, the gateway for the North East and the South East Asian countries,” said Pandey, addressing the 3rd Edition of the Indo-Pacific Economic Conclave (IPEC) 2025, organised by the Bengal Chamber of Commerce and Industry (BCC&I).

He maintained that the Indo-Pacific region accounts for more than 60 per cent of global GDP, with a shared perspective on trade. In Bengal, MSMEs contributed 44 percent of total exports in 2022-2023, rising to 46 per cent in 2023-2024, showcasing their growing economic impact. “A lot of exports are happening from the state,” he added.

Ambassador Indra Mani Pandey, Secretary General, Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), highlighted the region’s strategic importance, stating: “India is in a very good position to address regional currency and political challenges. The Bay of Bengal is the central point of trade. BIMSTEC has enhanced cooperation among member states in areas such as the blue economy, mountain economies, energy, disaster management, culture,

and tourism.” Ajay Kumar, Joint Secretary (States), Union Ministry of External Affairs, highlighted India’s strategic vision. The IPEC 2025 coincided with the 171st Annual General Meeting of BCC&I.