Ambani, ITC & JSW announce major investments as Mamata highlights Bengal's growth at biz summit

Kolkata, Feb 5 (PTI) West Bengal Chief Minister Mamata Banerjee reaffirmed her government's commitment to industrial growth and a business-friendly environment at the Bengal Global Business Summit (BGBS) 2025, where Reliance Industries Chairman Mukesh Ambani announced Rs 50,000 crore investment in the state by the end of this decade.

Speaking at the eighth edition of the BGBS, Banerjee announced the formation of a new state-level synergy committee to facilitate ease of doing business in Bengal.

Bhutan’s Agriculture Minister Younten Phuntsho attended the summit on behalf of the country, instead of Prime Minister Dasho Tshering Tobgay who was originally expected to lead the delegation.

Banerjee had hinted at possible interference from the national capital over the Bhutan PM's visit, noting on Tuesday, “Something is happening in Delhi” without elaborating.

A key development at the summit was the announcement by Reliance Industries Chairman Mukesh Ambani, who pledged to invest Rs 50,000 crore in the state by the end of this decade.

"Today, in less than a decade, our investments in Bengal have increased 20 times, and we have invested over Rs 50,000 crore. Mamat Didi, we shall double this investment by the end of this decade. Our investments have created over one lakh direct jobs," Ambai said.

"Our investment will span multiple sectors, including digital services, green energy, and retail,” Ambani said, reaffirming Reliance’s commitment to driving economic growth in Bengal.

In her address, Banerjee highlighted the state’s ongoing infrastructure development, including the construction of six economic corridors along national highways.

She also announced the formation of a synergy committee to facilitate business in Bengal.

“I am announcing the formation of a new state-level synergy committee to facilitate ease of doing business in the state. It will be a one-stop destination for all forms of clearance for doing business in Bengal,” she said.

Banerjee also provided a major update on the Deocha-Pachami coal mine project, calling it a catalyst for the state's industrial sector.

"Infrastructure is ready; coal extraction could begin as early as tomorrow. Job opportunities will also be provided to land donors. Family members of the landowners will be provided jobs. The arrangement for compensation is fully in place,” she announced, signaling a step forward for the state’s industrial growth.

The summit witnessed other significant announcements, including ITC Ltd’s unveiling of a global centre of excellence for artificial intelligence in the New Town area of Kolkata.

The centre was virtually inaugurated by Banerjee, and ITC Chairman and Managing Director Sanjiv Puri praised Bengal’s potential for investments, especially in the hospitality sector.

“Bengal has immense potential in the hospitality sector. ITC will continue to expand its presence in the state,” Puri said.

JSW Group also made a commitment to Bengal, with Chairman Sajjan Jindal announcing a Rs 16,000 crore investment to develop a 1,600 MW power project at Salboni.

Jindal stated that the company plans to double its capacity in the future with an additional investment of a similar scale.

“JSW has secured an order to develop the 1,600 MW greenfield thermal power project,” he said.

Speaking at the event, Bhutan’s minister Younten Phuntsho highlighted his country's diverse agro-climatic zones, which make it an ideal location for producing high-quality organic products.

He also emphasised Bhutan’s strong conservation policies and investor-friendly environment, inviting green energy collaborations to harness the country’s renewable resources for regional sustainability.

Namgey Thinley, Trade Consul of the Royal Bhutanese Consulate in Kolkata, had previously confirmed on Monday that the Bhutanese Prime Minister would attend with a 13-member delegation.

The chief minister also defended the BGBS against criticism, including remarks from Leader of the Opposition Suvendu Adhikari, who called it an “optical illusion.” “Many ask what these summits achieve. But today, every other state is following our example and organizing similar events. This summit is crucial for the future generations of Bengal,” Banerjee responded.

She also noted the state's commitment to inclusivity and social welfare, pointing to schemes like “Kanyashree” and “Duare Sarkar,” which have received international recognition.

Banerjee said, “There is no more load shedding now. There are no strikes in Bengal. The work culture has returned.” She also highlighted the state's welfare initiatives, with Bengal being recognised globally for its efforts in women’s empowerment and governance at the people's doorsteps.

Banerjee concluded her speech with the announcement of the inauguration of the Jagannath Temple in Digha on April 29, aimed at boosting the state's tourism sector.

Through the Bengal Global Business Summit, the government is working to attract investments across various sectors and strengthen the state’s economic footprint. PTI DC/BSM PNT NN

Source: PTI