During a press conference held at The Taj Palace in New Delhi on August 23, preceding the Bengal Global Business Summit, Dr. Amit Mitra, Principal Chief Advisor to the Chief Minister of the Government of Bengal, shed light on the successful investments being made in the state of West Bengal.
A delicate equilibrium has been achieved between capital expenditure, the development of physical infrastructure, and the expansion of various sectors, all with the primary goal of creating livelihoods and jobs for the people of Bengal. Mitra emphasized, “An investment of Rs 1 Crore generates 37 jobs, and Bengal’s banks have invested Rs. 1.28 Lakh Crore,” envisioning the substantial employment opportunities generated.
Entrepreneurs from seven companies, both based in and outside Bengal but with investment surge in the state, were in attendance, sharing their success stories.
Wow Momo, a startup originating from Bengal, now boasts a chain of 650 restaurants across India. The founder, Sagar Dariyani, expressed his gratitude towards the Bengal government and the favorable business environment in the state. Wow Momo, headquartered in Bengal, currently stands as India’s largest homegrown quick-service restaurant chain.
Bengal’s healthcare sector is also on the rise. Rupak Barua, CEO of AMRI hospitals, noted that Bengal is emerging as a medical tourism hub due to the affordability of healthcare services.
Mitra emphasized that investments in Bengal are on the upswing and will continue to rise, with new sectors emerging.
TATA Steel has made significant investment surge in Bengal. Given Bengal’s abundance of 295 rivers, TATA has ventured into ports, shipping, marine agencies, and highways to support their multi-modal logistics operations.
West Bengal has achieved the top ranking among states in controlling the debt-to-GDP ratio, according to the NIPFP’s database.
It’s worth noting that the Bengal government has made substantial investments in the social services sector. Projected investments are set to reach Rs. 82,180 Crore in 2023-24, compared to Rs. 6,846 in 2010-11. Additionally, the exports of gold, shrimp, human hair, and steel from Bengal have all experienced significant growth.