Bengal business meet nets over Rs 2.35 lakh cr investment proposals

Kolkata, Jan 21 (IANS) The two-day Bengal Global Business Summit organised by the state government has received investment proposals worth Rs 2,35,290 crore, Chief Minister Mamata Banerjee announced here on Saturday.

Addressing delegates on the concluding day of the meet, Banerjee said the manufacturing sector netted investment commitments of Rs 61,765 crore.

Among other major sectors, Ministry of Micro Small and Medium Enterprises (MSME) attracted business proposals of Rs 50,710 crore, urban development got Rs 46,600 crore, transport Rs 38,801 crore, IT, ITes and Telecom 18,540 crore, power and NES 3,600 crore and mining got Rs 1,580 crore.

"Despite demonetisation, a sum of Rs 2,35,290 crore has been committed during the summit," Banerjee said.

"This figure, at this juncture, in this situation is enough," Banerjee said.

She said that during the previous two summits in 2015 and 2016, West Bengal received over Rs 4.93 lakh crore of investment proposals, of which over 40 per cent are in the implementation stage.

"Out of that, already over 40 per cent has been implemented. It takes time to implement the projects," she said.

In the third edition of the summit, China based TEB technology committed investments of Rs 27,200 crore for an elevated mass rapid transit system, while Korea's Handong University signed a memorandum of understanding with the state-run West Bengal Housing Infrastructure Development Corporation for setting up an intelligent and green city, Amit Mitra, state Finance, Industries and Commerce Minister, said.

Banerjee said Norway showed interest in the maritime sector and fisheries while the delegation from Italy expressed their keenness for setting up a manufacturing plant of leather machinery.

She also said the Chinese delegation evinced interest in infrastructure and manufacturing while delegates from Japan were keen on participating in drinking water and mono rail project.

"Japan will speed up the process of Howrah-Yokohama partnership. Germany's textile major Orlinkon Barmag said they are looking for funds. Once they get it, they will set up a textile machinery plant in the state," Mitra said.

Terming the summit "super successful", Banerjee once again urged the industrialists to invest in Bengal.

"If you invest in Bengal, you can develop industries in Bangladesh, Bhutan, Nepal and north eastern states. You can also develop industries in Thailand, Myanmar and Singapore which are not far away from Bengal."

The next edition of the summit will be held on January 16 and 17 next year, Mitra said.

Global think tank Horasis chief Frank Jurgen Richter announced that its next Asia meeting would be held in the city in November this year.