West Bengal, which is often perceived to be cash-starved, has received investment proposals worth over Rs 4.40 lakh crore during the two-day business conclave this year, said a beaming Bengal Chief Minister Mamata Banerjee on Thursday. There is no doubt whatsoever that the state remains a prime destination for the investors, she added.
The Bengal Global Business Summit (BGBS) 2025, which had started on a spirited note on Wednesday with corporate bigwigs like Reliance boss Mukesh Ambani, JSW’s Sajjan Jindal, ITC Chairman Sanjeev Puri, RPSG Chairman Sanjiv Goenka and Ambuja Neotia Chairman Harshavardhan Neotia making large investment pledges, had more cause for cheer for the Bengal government and its chief minister Mamata Banerjee on Thursday. Altogether .as many as 212 memoranda of understanding and letters of intent were signed across various sectors, underlining the state’s potential as an investment destination, said the Chief Minister, while addressing the concluding session of the Bengal Global Business Summit (BGBS).
“We have received investment proposals amounting to Rs 4, 40,595 lakh crore during the two-day event. This will create thousands of job opportunities in West Bengal,” she said. The “overwhelming response” to BGBS 2025 is a testament to Bengal’s “growing economic potential”, Miss Banerjee said.
The chief minister took the opportunity to highlight her government’s development efforts since 2011, stating that these initiatives have helped 1.72 crore people rise above the poverty line in the state. She said: “Our continued focus on infrastructure, industry, and social welfare has yielded results”. This year’s figure was much higher than the figure of the BGBS edition in 2023. In 2023, West Bengal had received investment proposals worth over Rs 3.76 lakh crore.
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.
The summit witnessed other significant announcements, including the unveiling of a global centre of excellence for artificial intelligence by ITC in the New Town area of Kolkata. The summit also saw participation of leading industrialists, policymakers, and international delegates, reinforcing Bengal’s position as a key investment hub in eastern India.
Meanwhile, breaking down his group’s investment plans in the state, Ambuja Neotia group Chairman Harsh Neotia said that in the healthcare sector, the group would pump in Rs 1,500 crore to set up five new hospitals across West Bengal ~ three in Kolkata, one in Durgapur, and one in Siliguri. These greenfield projects will add 1,300 beds, with two hospitals already under construction and the remaining three set to commence work within the year. In hospitality and tourism, they would invest Rs 2,700 crore, to develop a luxury hospitality circuit in partnership with the Taj Hotels, featuring seven premium hotels in key destinations such as Darjeeling, Kalimpong, Lataguri (Dooars), Digha, the Sundarbans, Shantiniketan, and Raichak. These will add 600 five-star rooms at an investment of Rs 1,200 crore. Additionally, two convention hotels will be developed in Kolkata and Siliguri, comprising 800 rooms, with an investment of Rs 1,500 crore. They would also set up a golf-themed township entailing an investment of Rs 5,000 crore. Ambuja Neotia will be introducing Bengal’s first international-standard golf township, featuring an 18-hole golf course, golf-view villas, apartments, a golf hotel, a clubhouse, and premium lifestyle amenities. The 240-acre project has been in planning for several years, and preliminary development has begun. With nine large-scale real estate projects in progress, Ambuja Neotia aims to deliver 10.5 million sq. ft. of built space across residential and commercial sectors over the next four to five years with an investment of Rs 6,500 crore.