West Bengal’s Policies Unveiled at Bengal Global Business Summit 2023

November 22, 2023

In a momentous announcement at the Bengal Global Business Summit 2023, Chief Minister Mamata Banerjee revealed a comprehensive set of policies aimed at propelling the state’s economic growth. The policies encompass a diverse range of initiatives, from doubling exports to fostering renewable energy manufacturing and upgrading logistics.

Key Initiatives Unveiled

1. Export Doubling Strategy

Mamata Banerjee laid out ambitious plans to double Bengal’s exports, signaling a robust commitment to bolster the state’s economic standing on the global stage.

2. Logistics Modernization

A pivotal aspect of the announced policies is the modernization of logistics. The state envisions an advanced and efficient logistics framework to enhance trade and commerce.

3. Renewable Energy Promotion

Recognizing the importance of sustainable practices, the Chief Minister introduced policies to promote the manufacturing of renewable energy, aligning Bengal with the global shift towards clean energy.

4. Bio-Fuels Promotion

As part of the state’s commitment to environmental sustainability, a specific policy promoting the use and production of bio-fuels was announced.

5. Strengthening Internet Connectivity

To address the need for improved internet connectivity in the eastern region, a new sub-sea cable landing station at the sea-resort of Digha was revealed, reflecting Bengal’s focus on technological advancement.

Economic Growth and Industrial Corridors

1. Impressive Economic Growth

Mamata Banerjee shared the encouraging news that Bengal’s economy is growing at a remarkable rate of 8.41%, with projections indicating a fiscal turnover of USD 212 billion.

2. New Industrial Corridors

Highlighting the state’s commitment to industrial development, four new industrial corridors were announced. These include Dankuni-Kalyani, Tajpur port-Raghunathpur, Dankuni-Jhargram, and Durgapur to Cooch Behar in north Bengal.

Showcasing Bengal’s Strengths and Opportunities

1. MSME and Employment Landscape

Banerjee underscored Bengal’s economic vitality by noting the presence of 90 lakh MSME units, employing a significant workforce of 1.3 crore people.

2. Expanding Leather Manufacturing and IT Hubs

The Chief Minister highlighted ongoing efforts to expand Bengal’s leather manufacturing complex, positioning it as the largest in Asia. Additionally, the state boasts one of the country’s largest IT hubs.

Brand Ambassador of Bengal: Sourav Ganguly

In a significant and culturally resonant move, Mamata Banerjee declared former cricketer and ex-president of the Board of Control for Cricket in India, Sourav Ganguly, as the “Brand Ambassador of Bengal.” Acknowledging Ganguly’s widespread popularity and his potential to inspire the younger generation, Banerjee expressed her intent to leverage his influence positively.

Global Participation in Bengal Global Business Summit 2023

The Bengal Global Business Summit, a widely attended annual event, witnessed the participation of several hundred companies from 17 countries, including the UK, US, Australia, Korea, Japan, Germany, and France. The summit serves as a testament to Bengal’s global economic engagement and collaborative spirit.

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