New Delhi, Mar 25 (PTI) West Bengal is creating an ecosystem for industries to invest, and by relaxing compliance requirements it has made it easier for businesses to put in their capital, a senior state government official said on Friday.
In the run up to the Bengal Global Business Summit to be held from April 21-22, West Bengal Industrial Development Corporation (WBIDC) Chairman Rajiva Sinha said there is no dearth of infrastructure as the current state government has spent the first five years of its stint in developing the same.
“We did not have much to market (in the past). Now, we are proudly saying that we have the prowess to invite to invest,” he said.
The summit, to be organised jointly by CII (Confederation of Indian Industry) and WBIDC, will see participation from domestic businesses as well as foreign entrepreneurs.
Sinha said that Chief Minister Mamata Banerjee has repeatedly emphasised over the last 3-4 months that her three priorities are ‘industry, industry and industry’.
“We are creating an ecosystem for the Industry to invest. This is the time when industries can come to Bengal, industries in Bengal can expand. Bengal can be seen as a sourcing and warehousing destination,” Sinha said.
Summing up on his message to the investor community, Sinha said: “Welcome to Bengal and you will not be disappointed.” West Bengal’s GDP has been growing at an average of 12.6 per cent between 2015-16 and 2020-2021. In 2020-21, the state’s GDP stood at Rs 14.44 lakh crore (USD 206.64 billion).
Inviting businesses to the two-day summit, Sinha said Bengal’s growth rate is faster than the national average and unlike the earlier perception it is much easier to do businesses in the state.
The state government spent its first five years investing in infrastructure, while its second term was dedicated to empowerment, bringing around 70 lakh people under social safety net.
There is no societal pressure on what to eat, what to watch, or which festival to celebrate, he said, adding that it is a very cosmopolitan state of 11 crore people.
He said that West Bengal has the tremendous potential to serve as a gateway to the East and northeast and the major game-changer would be the establishment of the deep-sea port, which is proposed to be established shortly to facilitate overseas trade.
He elaborated on the facilitative policy environment for setting up educational and healthcare institutions in the state under the Public-Private Partnership (PPP) model. He also mentioned that the government has provided a primacy of place to skill development. Sinha further elucidated that the government had taken major strides in the ease of doing business even prior to the start of the rankings for the same. As a result, compliances have been reduced and business laws have been worked upon and simplified.
During the last decade, the number of manhours lost by businesses owing to strikes and lock-outs have been reduced to almost nil. Besides, the government is geared towards providing training and upskilling and it bears the entire cost of training the workers, he said. PTI JD JD RUJ RUJ
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Source: The Print
