Indian business conglomerate RP-Sanjiv Goenka Group will invest Rs 10,000 crore in West Bengal in FMCG (Fast Moving Consumer Goods) sector over the next few years, Chairman Sanjiv Goenka said on Friday. “We will invest Rs 10,000 crore in the next few years in FMCG, a new vertical for the group,” he said at the ongoing Bengal Global Business Summit, 2017.
FMCG is a new vertical for RP-Sanjiv Goenka group, which has interests in Media & Entertainment, Retail, IT and Education, Infrastructure, Power & Natural Resources, Carbon Black, among other business ventures.
Goenka did not give any further details on the investment plans.
RP-Sanjiv Goenka group has an asset base worth close to Rs 32,000 crore and employs over 45,000 people.
Similarly, Rakesh Bharti Mittal, Vice Chairman of Bharti Enterprises Ltd, reiterated the company’s plans to invest Rs 3,500 crore in West Bengal in the next three years towards developing telecommunication infrastructure.
Bharti Enterprises had earlier this month announced its plans to invest Rs 3,500 crore in the state through Airtel – India’s largest telecommunication services operator.
Rakesh Bharti Mittal had then said investments will be towards augmenting telecom infrastructure, including across 3G, 4G networks and tower installations.
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Bharti Airtel has invested nearly Rs 9,000 crore in West Bengal in the past and has rolled out 13,000 km of optical fibre. It has also launched 4G services in West Bengal.
This is the third edition of the annual two-day business summit hosted by the state to attract businesses and investors. President Pranab Mukherjee, Governor Keshri Nath Tripathi, Chief Minister Mamata Banerjee, State Finance Minister Amit Mitra, industrialists Sanjiv Goenka, Sajjan Jindal and Kishore Biyani, as well as cricketer Sourav Ganguly are present at the inaugural event. The summit is being attended by representatives from over 27 countries and 3,000 overseas delegates.
President Pranab Mukherjee, while speaking at the event, pitched for stable, low interest rate that will help investors invest in West Bengal and India as a whole.