Bengal receives investment proposals worth Rs 2.84 lakh crore at BGBS 2019

MP, 8 February 2019, Kolkata: Chief Minister Mamata Banerjee announced on Friday that the state has secured investment proposals worth Rs 2.84 lakh crore in the Bengal Global Business Summit 2019, which is expected to create 8 to 10 lakh jobs in the state.

"We have received proposals worth Rs 2,84,288 crore. This is the achievement of BGBS. Investment means business and business means creation of jobs. Whatever investment proposals we have received, will create an additional 8 to 10 lakh jobs in the state," said Banerjee while speaking at the concluding session of the fifth edition of the two-day summit. Last year, the state had received investment proposals worth Rs 2,19,925 crore.

"86 Memorandums of Understanding (MoUs) were signed, 45 business to consumer (B2C) and 1,200 business to business (B2B) meetings were held in these two days. Don't you think it is a remarkable success? This itself proves the credibility, accountability and sincerity of the participants and the state government," she said, reiterating that India should tread the path of Bengal in near future.

"We don't allow strikes, suspension of work and workers' unrest. Our workers are our assets. We have talented youths. Our focus is always on creating more jobs," she asserted.

"It is because of you (delegates) that Bengal has successfully organised the conference. No state in India can do the same like this. With our initiatives and vision, we prove that Bengal is not only the best but also the destination of investments for near future," Banerjee added.

She reiterated that while India has lost 2 crore jobs in 2018 due to demonetisation and hasty implementation of Goods and Service Tax (GST), Bengal has reduced unemployment by 40 percent.

The Chief Minister also announced that the state has already added another 100 acres in the Silicon Valley Hub in New Town, in order to accommodate a host of IT firms and academic institutes, namely Capgemini, Tech Mahindra, ISI, Society for Applied Microwave Research and others. The total area of the Silicon Valley will thus be 200 acres.

Later, while addressing a Press conference, state Finance and Industry minister Amit Mitra said that 40 percent of the cumulative investment proposals received in the last four summits have been fructified. A report in this regard has been submitted to the Assembly, he said.

The state government has also decided that the IT companies of Bantala that are eager to shift to Silicon Valley can do so. "The move will lead to a huge scope for employment in the IT sector," said Mitra who is also the IT minister.

An additional 70 acres has been added in the Bantala Leather Complex to accommodate tanneries from Kanpur and Chennai. The complex currently employs a workforce of 1.2 lakh and with the additional units, it will employ an additional two lakh people.

According to Mitra, 51 delegates from UK, 63 from the Republic of Korea, 28 from Italy, 35 from Germany, 35 from Poland, 47 from Japan and 26 from USA participated in the summit.

Two apps were launched on the occasion, namely the Shipadisha app for addressing grievances of industrialists and Export Facilitation mobile app for connecting artisans with global exporters.

The Chief Minister invited industrialists and overseas delegates to attend the next edition of the global investors' meet, along with their family members.