Industry kept in loop on policies, have removed red-tape, says Mamata

While addressing the crowd at the 2016 Bengal Global Business Summit at the Milan Mela ground here, he said the whole world is undergoing an economic crisis. “India is trying to fight back and to do that the states should be economically strong. If West Bengal develops then the country will automatically move forward,” he said. He stated that growth of the eastern states was slower than those in the west for various reasons and now the eastern states should come forward and go for economic regeneration.

Referring to the glorious history of the state, he said that Bengal was once economically more vibrant than Mumbai and a leader in the manufacturing sector in the country. “Bengalis are respected for their brain and the state has a history of producing some of the finest minds in the country.” He regretted that “this glory has gone because of three decades of misrule and wrong policies.” He maintained that West Bengal was a destination for investment because of abundant water, skilled labour force and a Chief Minister with a clear perception.

A galaxy of business magnates from the country and abroad were present during the Finance Minister’s address. These included Reliance Industries Ltd Chairman Mukesh Ambani, ITC Chairman Y.C. Deveshwar, JSW Chairman Sajjan Jindal, Harsh Neotia, Sanjeev Goenka and Purnendu Chatterjee and Murali of Shriram Group of Industries. Dignitaries from Japan like Keiichi Higachi from Kawasaki Rikuso Transportation, Junichi Okamoto from Mitsubishi Chemical and Japan’s Ambassador to India Kenji Hiramatsu were also present. Politicians from different countries included UK’s Minister of State for Employment Priti Patel, Bangladesh Commerce Minister Tofail Ahmed and Bhutanese Prime Minister Tshering Tobgay. State Finance Minister Amit Mitra introduced the guests to the audience who were welcomed by the Chief Minister with uttorio.

Mukesh Ambani proposed that along with other investments, Reliance Foundation would work with the state to train 1000 budding footballers. In the past three years his company had invested Rs 5000 crore in Bengal, he said. Higachi said that his company would install 100 solar power driven temperature controlled warehouses in the state at an estimated cost of $ 2000-3000 per unit. Y C Deveshwar urged the Chief Minister to inaugurate his two plants and  Murali of Shriram group urged her to lay the foundation stone of his housing complex in  Uttarpara at an estimated cost of Rs 6500 crore. The businessmen admitted that West Bengal was an ideal destination because of ‘the pro-investor policies and transparent administration’.

Mamata Banerjee said that the policies had been formed after talking to the industrialists and age old red-tapism had been removed. “We are the guest and you are the host,” she told the industrialists. She said that her visit to the districts were very fruitful as she held meetings with officials in the block levels, from the Sabadhipatis of Zilla Parishads to senior officials in the districts. She said that 5000 acres of land was available to set up industries and the state would exempt VAT to companies engaged in manufacturing equipment driven by solar power.

Explaining why businessmen should invest in Bengal she said it was the gateway to eight north eastern states and Bhutan and road connectivity had improved and there was no communal tension in the state. Quoting Rabindranath Tagore she said, “Where the mind is without fear and where the head is held high. Here the people live peacefully and happily and so it is the ideal destination for investment. Cheap labour along with invest friendly government add more to our claim.”

She also said “transparency and efficiency go hand in hand” and that when her government came to power in 2011, 78 lakh man days had been lost but now it had been brought down to zero. Listing out her government’s achievements she said that industrial growth was being affected due to constant load shedding, but now power was surplus which was made possible due to constant monitoring. She also said her government had distributed 40,000 bicycles under Sabuj Sathi project and students from SC, ST and backward classes and minorities were given scholarships.“ Ours is a performing government with accountability and so I urge the industrialists to invest in West Bengal,” she said.