Bengal received investment proposals worth Rs 4.40 lakh crore in biz summit: Mamata

Kolkata, Feb 6 (PTI) Chief Minister Mamata Banerjee on Thursday said West Bengal received investment proposals valued at over Rs 4.40 lakh crore during the two-day business conclave this year, and asserted that the state remains a "prime destination" for investors.

Addressing the concluding session of the summit, Banerjee revealed that a total of 212 memoranda of understanding (MoUs) and letters of intent were signed across various sectors, reflecting the state's robust investment climate.

"We have received investment proposals worth Rs 4, 40,595 crore during this event. This will create thousands of job opportunities in West Bengal," she said, highlighting the significance of the summit.

Banerjee also credited her government's development efforts since 2011 for uplifting 1.72 crore people above the poverty line.

"Our focus on infrastructure, industry, and social welfare has led to significant progress," she added.

In the last edition of BGBS in 2023, investment proposals valued at Rs 3.76 lakh crore were received, demonstrating the steady growth of the state's economy.

The chief minister further highlighted the success of the previous summits, stating that over the last seven BGBS editions, investments worth Rs 19 lakh crore have been made, out of which work for Rs 13 lakh crore has already been completed.

"This significant progress underscores the state's commitment to delivering on investment promises and its growing appeal as a business hub," she said.

A key highlight of this year’s summit was the investment commitment from Reliance Industries, with its Chairman Mukesh Ambani pledging to invest Rs 50,000 crore in the state by the end of the decade.

"In less than a decade, our investments in Bengal have increased 20 times, and we have invested over Rs 50,000 crore. We shall double this investment by the end of this decade, creating over one lakh direct jobs," Ambani said at the event on Wednesday.

Other notable announcements included the unveiling of a global center of excellence for artificial intelligence by ITC in New Town, Kolkata. JSW Group also made a significant commitment, with Chairman Sajjan Jindal announcing an investment of Rs 16,000 crore to develop a 1,600 MW power project at Salboni, with plans to double the capacity in the future.

The summit attracted key industrialists, policymakers, and international delegates, reinforcing Bengal's position as a leading investment hub in eastern India.

Banerjee mentioned that 20 partner countries were involved in the summit, with representatives from an additional 20 countries attending.

"The response has been overwhelming. Yesterday, major industrialists like Mukesh Ambani and Sajjan Jindal shared their investment plans. I have had separate discussions with them and received further assurances of investment," the chief minister stated.

Banerjee also noted that the summit included a large exhibition with 215 stalls showcasing various industries.

"In the last 14 years, our infrastructural development has been remarkable. We do not create divisions among people. Bengal is the heart of culture, and 5,000 investors and representatives have attended this summit," she added.

The chief minister also shared some specific achievements, including the state providing land to ONGC in Ashoknagar for just Re 1.

"Soon, ONGC will begin commercial oil extraction in Ashoknagar," she said.

In her concluding remarks, Banerjee highlighted the social progress made in the state, noting that 1 crore 72 lakh people in Bengal have risen above the poverty line. PTI DC/BSM PNT NN

Source: PTI