Bengal receives investment proposals worth Rs 4.40 lakh crore at biz summit: Mamata

Kolkata, Feb 6 (PTI) West Bengal Chief Minister Mamata Banerjee on Thursday announced that the state received investment proposals valued at over Rs 4.40 lakh crore during the two-day Bengal Global Business Summit (BGBS) 2025, asserting the state's position as a "prime destination" for investors.

Addressing the concluding session of the summit, Banerjee revealed that 212 memoranda of understanding (MoUs) and letters of intent were signed across various sectors, showcasing 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, emphasizing the significance of the summit. Banerjee also credited her government's development efforts since 2011 for lifting 1.72 crore people above the poverty line.

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

Banerjee noted that the state had received Rs 3.76 lakh crore in investment proposals during the previous BGBS edition in 2023, marking steady growth in the state’s economy.

In total, over the last seven editions of BGBS, investment proposals worth Rs 19 lakh crore have been received, with work already completed for Rs 13 lakh crore, according to Banerjee.

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

A major highlight of this year’s summit was the investment commitment from Reliance Industries. Its Chairman Mukesh Ambani pledged to invest Rs 50,000 crore in West Bengal 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.

Other notable announcements included ITC’s unveiling of a global centre of excellence for artificial intelligence in New Town, Kolkata. The 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, underscoring Bengal's status as a leading investment hub in eastern India.

The chief minister mentioned that representatives from 20 partner countries were involved in the summit, with additional representatives from another 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 CM stated.

Banerjee also highlighted 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 shared some specific achievements, including providing land to ONGC in Ashoknagar for just Re 1, with the company soon set to begin commercial oil extraction in the area.

Banerjee also reiterated her message of unity and communal harmony, stating that the state does not divide people but brings them together.

"We are proud of our state, especially because we don't divide people; we unite them. We love temples, mosques, and churches. We respect all religions, castes, and communities. We must live in harmony, exchange views, and take part in all religious festivals," she said.

Several significant investment proposals and MoUs were signed during the sectoral sub-committee meetings.

Belle Vue Clinics announced an investment of Rs 1,500 crore to set up two hospitals and a paramedical nursing college in Rajarhat.

Birla Opus Paints will invest Rs 1,600 crore in a plant at Kharagpur as part of its Rs 10,000 crore expansion plan across six facilities in India.

Additionally, a modern garment park will be set up in Mahisbathan near here with an investment of Rs 700 crore, while a Rs 195 crore ethanol plant will be established in Purba Bardhaman district.

MoUs for Rs 1,300 crore in three industrial parks and Rs 2,000 crore worth of investment in the plastic sector were also signed under manufacturing in districts.

Leading data centre companies, including NTT and STT, will commence operations at the Silicon Valley, New Town near Kolkata.

Bike taxi aggregator Rapido signed an MoU with the state transport department, committing Rs 150 crore to expand mobility services.

Banerjee concluded by emphasizing the state’s continued commitment to business-friendly policies and infrastructure development, underscoring that over 5,000 investors and representatives attended this year’s summit. PTI DC/BSM PNT NN

Source: PTI