BGBS 2023: Bengal holds roadshow in Chandigarh to woo investors

Kolkata: With the GDP of Bengal in 2023-24 expected to be Rs 17.5 lakh crore compared to that of Punjab’s Rs 7 lakh crore approximately, a roadshow ahead of the Bengal Global Business Summit (BGBS) 2023 was held at Chandigarh to explore significant investment opportunities.

Amit Mitra, principal chief advisor to Chief Minister Mamata Banerjee and the Finance department, highlighted the significant opportunities for businesses in Punjab through engagements with Bengal at a recent roadshow with industry stakeholders at Chandigarh. The roadshow was a precursor to the 7th edition of the “Bengal Global Business Summit, 2023” scheduled to be held on November 21 and 22 in Kolkata.

Mitra, who delivered the keynote address, said that the GDP of Bengal in 2023-24 will be Rs 17.5 lakh crore compared to Punjab’s GDP of nearly Rs 7 lakh crore.

“Bengal is the 4th largest state in terms of net value added and that is an excellent reason for businessmen from Punjab to visit Bengal for BGBS 2023. Punjab’s achievement is wheat, and it can feed the whole country while Bengal’s contribution is in terms of rice as it is the largest rice producing state. Bengal is the 2nd largest producer of fruits and vegetables. This is why ITC has 19 plants in Bengal as they get raw material that is needed,” he said.

The state government organised the roadshow to explore trade and investment opportunities in Bengal and strengthen bilateral relations and cooperation in collaboration with ASSOCHAM.

In the context of manufacturing, Mitra mentioned that Bengal has the largest rail manufacturing facility in Titagarh, which is known for making wagon and metro coaches. It has five facilities and is expanding further. Texmaco is tying up with global companies for cutting edge technology. Referring to the mining sector, he spoke of the Tata Hitachi construction company, which is manufacturing equipment in state industrial parks and has further expansion plans.

He shared that Bengal is the cement hub of India as there are nine companies having cement plants out of which six companies came during the tenure of Chief Minister Mamta Banerjee.

He also highlighted the state’s achievement in the IT sector.

Anoop Kumar Agrawal, state principal secretary, department of Technical Education, Training, and Skill Development, highlighted the significant advancements in the skill and technical education sector.

Sanjay Bansal, state secretary, Backward Classes Welfare department, highlighted the factors that make Bengal an attractive destination for investment, including the state’s favourable Ease of Doing Business ranking and growth of the MSME sector. Nikhil Nirmal, managing director, West Bengal Small Industries Development Corporation Limited (WBSIDCL), provided insights into the MSME sector in Bengal.

Perminder Jeet Kaur, senior director for East and North East Head, Eastern Region Development Council, ASSOCHAM, elaborated on the scope of business opportunities in the state and that the event in Chandigarh marks the beginning of a journey towards greater economic cooperation between Bengal and various stakeholders across Chandigarh and the country as a whole.