Top companies will again invest in Bengal: Deveshwar

YC Deveshwar, chairman of ITC Limited, on Wednesday said that top companies would once again start investing in West Bengal because of the present congenial atmosphere for industrialisation. He was speaking at a programme of ITC Limited from where three major projects of the group have been unveiled.

Deveshwar said: “The companies will shed their reluctance and forgetting the past experience will begin invest in West Bengal.” The investment will not only generate jobs, at the same time it will be good for farmers, youths and people of all sections. 

“I know that lot of reforms took place in easing the business process. Moreover, the policies of the state government and the tireless efforts will go a long way in attracting investment. Much better days are ahead for the people of the state,” he said.

Deveshwar said that the growing per capita income of the state would make Bengal attractive to investors.

The projects dealing with food processing are extremely important as West Bengal leads in production of vegetables and unlike other states there is no water problem. 

Food processing is a sector that can create job opportunities, he said. In terms of investment the group has taken up projects in all the three important sectors - manufacturing, agriculture and services like hotel industry.

The company is also working with local farmers to produce better quality potato seeds.

ITC Limited is already exporting shrimp and the company would pump in crores in the fast moving consumer goods in the next 15 years, he said.

When asked about the requirement of land adjacent to its Integrated Consumer Goods Manufacturing Facility at Uluberia, he maintained that land is needed when there are plans for expansion.