Bengal govt’s business summit draws investment promises worth Rs 3,76,288 crore

The West Bengal government has said that investment pledges worth Rs 3,76,288 crore have been made by business representatives at its two-day business summit, which concluded on Wednesday.

According to official information, in the 2022 summit, investment proposals (letters of intent, expressions of interest) worth Rs 3,42,375 crore, had been signed.

Chief Minister Mamata Banerjee, who spoke at the valedictory session at Dhono Dhanyo Auditorium packed with national and international business representatives, however, questioned why industrialists should be concerned about (investigation) agencies.

“Why will our industry (industrialists) leave India? Why, they will always be concerned… some agency is coming to capture (hold) their neck?” she asked.

Banerjee said that there could be different political parties in power, at the Centre, and in the state, but industry be “clean” – hinting at business without hassles. “Over-taxation; it’s a mental agony,” she said. She also hinted at the need of cooperation between the Centre and the states, despite political differences, in the larger interest of people’s development.

While the 7th edition of state’s flagship industrial event – Bengal Global Business Summit – focused on investment commitments for the state, Banerjee also laid stress on the MSMEs, small shops, employment opportunities for women at home, the village as a pivot for growth, and creativity of people in Bengal that provides employment opportunities. She said that while the employment rate, nationally, took a dip, in Bengal it’s the other way.

The chief minister pointed out that cash transactions are vital for small businesses, while digitisation is required. She asked small businesses, including chambers in the districts, not to feel less important given the amount of money they put into their projects.

The chief minister stated that 188 MoUs and Letters of Intent have been signed during the summit covering numerous sectors. Besides, there are others in the process of tie-up. Proposals worth over Rs 3,76,288 crores have been signed.

“Tell your friends… business friends also, to go and invest in Bengal. The opportunity will never come every time. Once the opportunity is lost, everything is lost,” she said.

“Attended by 400 international delegates, representatives from 17 partner countries, business and official delegations from nearly 40 countries and 15 Ambassadors and High Commissioners from different countries, this was a truly globally participatory event,” the chief minister wrote on X.