Diplomats representing over 40 countries came together at Taj Palace, New Delhi to discuss the rising business opportunities in Bengal,…
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Diplomats representing over 40 countries came together at Taj Palace, New Delhi to discuss the rising business opportunities in Bengal, which served as a prelude to the Bengal Global Business Summit. The summit is scheduled to be held on November 21st and 22nd in Kolkata.
The participants included 10 European Union nations, ASEAN member countries, African and South American nations, among others. These nations will also participate in the upcoming summit.
During the press conference that followed, Dr. Amit Mitra, the Principal Chief Advisor to the Chief Minister of Bengal, highlighted the significance of the summit and the factors that will drive West Bengal’s development.
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Additionally, the Chief Advisor noted that Bengal’s GDP has surged from 4.5 lakh crore to 17 lakh crore during their tenure.
Key game-changing sectors
The key game changing sectors are mining, gas, MSME, IT sector, cement, foundries and casting and leather. The mining sector in Bengal has been significantly boosted by coal since Bengal has world’s second largest coal reserves. Coal Bed Methane (CBM), and Shale Gas have led to the adoption of mining machinery. Gail pipelines, facilitating city gas transmission, are set to replace the previous transportation methods to reach Bengal’s residents.
West Bengal’s banks have extended loans totaling 1.28 lakh crores to MSMEs in the 2022-23 financial year, surpassing the previous year’s 1.04 lakh crore amount.
Bengal’s own silicon valley hub, now a data centre of India has acquired 20 acres of land, generating over 15,000 jobs. The state also boasts of nine cement companies. Apart from it, orders worth Rs 40,000 crore have been booked for railway wheels and lastly the leather industry which employs around 2.5 lakh individuals, producing industrial gloves valued at 193 million US dollars is also prospering.
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