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  1. Bengal Global Summit gets commitment of Rs 30k-cr investment

Bengal Global Summit gets commitment of Rs 30k-cr investment

With President Pranab Mukherjee terming West Bengal’s transition from a debt stressed state to a revenue buoyant one, industry leaders like Sanjeev Goenka, Kishore Biyani, Rakesh Bharti Mittal, Pankaj Munjal and Purnendu Chatterjee see increasing investment opportunity in the state.

By: | Kolkata | Updated: January 21, 2017 7:25 AM
President Pranab Mukherjee Around Rs 30,000 crore worth of investment proposals were announced from the summit platform on the first day, while foreign investment proposals were expected to pour in on the second day.

With President Pranab Mukherjee terming West Bengal’s transition from a debt stressed state to a revenue buoyant one, industry leaders like Sanjeev Goenka, Kishore Biyani, Rakesh Bharti Mittal, Pankaj Munjal and Purnendu Chatterjee see increasing investment opportunity in the state.

While RP Sanjiv Goenka Group chairman Sanjiv Goenka announced the company’s entry into FMCG segment at an investment of Rs 10,000 crore, Future Group MD Kishore Biyani announced the setting up of a 2 lakh sq feet apparel hub near Kolkata, a Rs 60-crore garment factory, a Biswa Bangla mall at Rajarhat and its second logistics hub in Burdwan (the first being at Nagpur).

Pankaj Munjal , CMD, Hero Motors, announced the setting up of a 3 million unit per year bicycle manufacturing unit eying Bengal government’s flagship Sabuj Sathi programme. And Rakesh Bharati Mittal, vice chairman, Bharati Enterprises, committed Rs 3,000- 4,000 crore investment in the next 3-4 years for increasing Airtel connectivity and setting up Airtel Payment Banks. Mittal expressed willingness to participate in government’s women empowerment programmes through Airtel Payment B ank. He has proposed tie up with government-run schools for implementing Bharti Foundation’s progamme. The Chatterjee Group Chairman, Purnendu Chatterjee said the group would invest Rs 1,000 crore in the next 16-18 months in two small projects of Mitsubishi Chemicals in Haldia. All the announcements were made in the third edition of the Bengal Global Business Summit with 29 countries participating in it.

Around Rs 30,000 crore worth of investment proposals were announced from the summit platform on the first day, while foreign investment proposals were expected to pour in on the second day. GAIL has proposed renewing its plan of setting up the Haldia-Jagadishpur pipeline at a cost of Rs 6,500 crore and Great Eastern Energy Corporation Ltd proposed expansion of its natural gas production at an investment of Rs 7,000 crore.

Meanwhile, chief minister Mamata Banerjee taking a dig at the Centre said demonetisation has slowed the economy’s growth momentum but Bengal was poised to take investment with its ready road, rail and air connectivity, surplus power & water and land bank.

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