With over Rs 4.40L cr investment proposals, Mamata calls Bengal ‘prime destination’ for businessmen

MP, 7 Feb 2025, Kolkata: On the concluding day of the Bengal Global Business Summit, Chief Minister Mamata Banerjee, on Thursday, announced that the state government received investment proposals worth over Rs 4.40 lakh crore. 

Asserting that Bengal remains a “prime destination” for investors, Banerjee said that a total of 212 memoranda of understanding (MoUs) and letters of intent (LOI) were signed across various sectors. 

“We have received investment proposals worth Rs 4,40,595 crore during this event. This will create thousands of job opportunities in West Bengal. More than 5,000 investors and delegates attended the summit,” she said 

in the valedictory session at Biswa Bangla Convention Centre. In the last edition of the summit held in November 2023, Rs 3,76,288 crore was the investment proposal by the industry honchos. 

About 188 MoUs and LOIs were signed. Banerjee emphasised her government’s development efforts since 2011, noting that these initiatives have brought 1.72 crore people above the poverty line in Bengal. 

Among the major achievements in this summit, Banerjee mentioned the Oil and Natural Gas Corporation Limited’s (ONGC) oil exploration at Ashok Nagar in North 24-Parganas. “We have allotted them 15 acres of land at Rs 1. 

ONGC will be commercially exploring oil and natural gas. We will give them a petroleum mining lease,” she said, adding this will add West Bengal to the petroleum map of India. Speaking on the investment assurances by some of the industry captains, Banerjee said 

“After the inaugural session on Wednesday, I personally met Mukesh Ambani and Sajjan Jindal. Both assured me that they will invest more in Bengal in the coming days in addition to the commitment they made on Wednesday.” 

She highlighted Jindal’s plan to develop the Andal airport. Banerjee stated that over the last seven BGBS editions, investments worth Rs 19 lakh crore were made, out of which work for Rs 13 lakh crore is completed. 

“This significant progress underscores the state’s commitment in delivering on investment promises and its growing appeal as a business hub,” she said. 

“In the last 14 years, our infrastructural development has been remarkable. We do not create divisions among people. Bengal is the heart of culture and we believe in the philosophy of Swami Vivekananda that unity is strength and weakness is death,” she added. 

Harshavardhan Neotia, chairman of Ambuja Neotia Group and co-chairman of the state government’s education sub-committee said: “The education sector is taking the decisive role, in both private and government institutions to improve quality of education and availability of seats. It plays an important role in the economic growth of the state,” he added