Bengal Global Business Summit 2019: Reasons that make West Bengal an industry-friendly state

Updated: February 5, 2019 3:00 PM

The 2019 Bengal Global Business Summit is going to be held in February 2019. West Bengal government has invited industries from all over the world.

Bengal Global Business Summit 2019: Reasons that make West Bengal an industry-friendly stateWest Bengal has exhibited significant growth in recent years and has become a good place to do business.

The 2019 Bengal Global Business Summit is going to be held in February 2019. West Bengal government has invited industries from all over the world to be a part of it. The state has exhibited significant growth in recent years and has become a good place to do business. Here are some reasons that make West Bengal an industry-friendly state.

Macro Economy

West Bengal’s GDP growth (at current prices FY 2017-18) was at 16.12%, a number significantly higher than national GDP growth of 10%. The State per capita GDP growth (at current prices FY 2017-18) was at 15%, which is again, significantly higher than the national per capita GDP Growth rate (at current prices FY 2017-18) of 8.5%. The state is experiencing substantial economic growth, making it a great destination for industries.

Accolades

West Bengal’s Integrated Financial Management System won CSI- Nihilent Award of Excellence in 2015. The state currently ranks first in the country in terms of project expenditure, person-days generation in 100 days of work for 3 consecutive years (31.56 crore man-days generated this year). It also received the “KRISHI KARMAN AWARD’ for 5 consecutive years for the record production of pulses, total foodgrains, rice, coarse cereal and oilseeds.

West Bengal has a consumer base of over 100 million, and owing to its location, it is also a gateway South East Asian and ASEAN countries.

Social

West Bengal gives livelihood to over 67 lakh poor rural women with credit access to over Rs 6000 Crores. It is leading in the country in terms of providing scholarships to minority students, in providing female employment in the MSME sector and comprises over one-sixth of the national female employment in the sector.

Infrastructure

Besides having a road density of 333.5 km per ’00 sq. km. that is considerably higher than the national average (139.1 Km/’00 Sq. Km.) and India’s first private sector greenfield airport in Andal, West Bengal also is best in the country in terms of power, quality, availability and distribution. As far as railways go, the State leads in the country in rail network density (45.9 km per ‘000 sq. km.) and is well above the national average (35.9 km per ‘000 sq. km.)

Industry

Leading in the country in terms of share of female-owned MSME enterprises; nearly one out of every four MSME enterprises owned by a female in the country is located in West Bengal. The state is home to the world’s second largest coal mine – Deocha Pachami Harinsingha Dewanganj coal mines in the Birbhum district – in the world in terms of reserves.

The summit aims to showcase the business readiness and investment potential of West Bengal in front of the global business community. To know more about the 2019 Bengal Global Business Summit, click here.

(This article is sponsored by Bengal Global Business Summit 2019)

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