Singur, Nandigram and Taslima Nasreen notwithstanding, West Bengal has been able to attract investments worth Rs 2.15 lakh crore in just 11 months. While the state government has come under fire from all political and human rights quarters over its shabby handling of the controversies in the last one year, the industry, it seems is warming up to Buddhababu?s overtures.
At least that?s what the figures say. An Associated Chamber of Commerce & Industry of India survey finds that 31 major investment proposals have been made during January to November, adding up to Rs 2.15 lakh crore. A Reserve Bank of India (RBI) report says corporate investment in the state has gone up 34% in 2007.
And the mood is very much reflected in Assocham chairman Venugopal Dhoot?s words: Nandigram does not create a reason to hamper investments in the state.
?Nandigram is restricted to a small part of the state. Industrial climate is still very good here. Industrialists think Buddhababu Bhattacharjee is a very pragamatic man,? said Dhoot, who is also the chairman of Videocon Industries Ltd.
Dismissing the controversies over land acquisition in West Bengal as not an isolated case, he added it was a problem across the country.
The RBI report has been prepared on the basis of commercial bank and non-banking financial institutions? assistance to 37 projects in 2007 against 27 projects in 2006. Of the Rs 2.15 lakh crore investments, Rs 1.82 lakh crore came from 10 sectors like steel (Rs 56,400 crore), real estate (Rs 52,929 crore) oil (Rs 29,750 crore), power (Rs 26,000 crore), gas (Rs 13,000 crore), retail ( Rs 3,000 crore), IT (Rs 19,50 crore), electronics (Rs 1000 crore), cement (Rs 800 crore) and aviation (Rs 300 crore). The rest came from sectors like hospitality, health, education and others.
Another Rs 50,000 crore worth of investments, already proposed, are expected to be announced by the end of this fiscal, the Assocham report says.
At the second Indo-EU summit in Brussels on December 3-4, Assocham will make a special presentation on West Bengal for attracting investments.
For Videcon?s own proposed steel and power project on 4,000 acres near Asansol, the company is negotiating with 250 land-owners for direct purchase. It intends to commission the plant by 2011-12.
Dhoot contradicted Infosys human resource director TV Mohandas Pai?s comment saying West Bengal government was not moving at a slow pace. ?If Infosys doesn?t come, that may be for higher land price. You cannot make exception for one,? Dhoot said.
