Daily Current Affairs 2021 Mamata's investment summit nets proposals worth over Rs.2.50 lakh crore | Daily Current Affairs 2021

Mamata’s investment summit nets proposals worth over Rs.2.50 lakh crore

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Mamata's investment summit nets proposals worth over Rs.2.50 lakh crore The two-day Bengal Global Business Summit organised by the West Bengal government concluded attracting investment proposals worth at least Rs.2,50,104 crore ($37 billion), Chief Minister Mamata Banerjee announced here.

Addressing industrialists on the summit’s concluding day, she said the manufacturing sector has drawn proposals valued at Rs.1,16,958 crore.

Banerjee said the proposals have come from a wide range of sectors like mining, textile, power, IT and telecom, urban development, housing, tourism, health transport and education.

“Many MoUs have been signed and many are in the process. We are yet to make detailed estimates of the proposals. The investment proposals are not less than Rs.2,50,104 crore,” she said.

The previous edition of the BGBS had netted investment proposals of Rs.2,43,100 crore, of which proposals worth Rs.95,000 crore have taken off and the rest are under process, the chief minister told the media.

Describing the latest summit as a total success, she exuded confidence that thousands of crores of additional investment will come to the state in the near future through ancillary industries.

Banerjee enumerated the achievements of her government since coming to power in 2011 and projected Bengal as the ideal destination for investments. “Our aim is to make Bengal the number one destination for business.”

Among the sectors which got the largest chunks of investment are urban development (Rs.29,000 crore), mining (Rs.23,300 crore), transport (Rs.9,384 crore), IT and telecom (Rs.8,650 crore), power (Rs.8,462 crore), and micro, small and medium enterprises (Rs.50,000 crore over the next three years).

In manufacturing, the TCG group would pump in Rs.20,000 crore, while China’s Zhongtong Bus Holding Company injects Rs.1,500 crore, and Great Eastern Rs.1,700 crore.

Banerjee said the Deocha-Pachami-Dewanganj-Harinsingha coal mine in Birbhum district, that envisages an investment of Rs.23,000 crore, would be inaugurated on January 18.

In the IT and telecom sector, Airtel would invest Rs.3,500 crore, while ITC Infotech has come up with a Rs.1,650 crore proposal.

HP, Oracle and Erricson would be partners in the Smart City project, while the state transport department has inked a MOU with the Calcutta Goods Transport Association for setting up a Rs. 5,000 crore logistics hub at Baidyabati in Hooghly district. The hub would provide employment for 10,000 people.

A freight terminal would come up in Howrah at an investment of Rs.2,000 crore.

In education sector, Amity University would pump in Rs.2,000 crore.

Bhutanese airlines Drukair entered into an MOU with the Bengal Aerotropolis Pvt. Ltd (BAPL) to use India’s first private Greenfield airport at Durgapur in Burdwan district for technical stoppage or refueling.

The state government also announced three policies. “These are policy for start-ups, design policy and township policy including development of theme cities,” the chief minister said.

Banerjee said her government was mulling setting up an eco-tourism hub over 12,000 acres at Nayachar of East Midnapore district.

She invited industrialists to set up projects by utilising 5,000 acres of land available with the government in industrial parks.

She said a deep sea port “Bhor Sagara” would come up in South 24 Parganas district for which the central government has already floated a tender. The state government has 26 percent equity in the project. Prime Minister Narendra Modi would lay the foundation for the work to commence in March.

Another port would come up at Rasulpur.

The state government has given land for expansion of the Bagdrogra airport in north Bengal, while small flights have started operating from Cooch Behar airport. She said efforts were also on to start air services from Malda and Balurghat.

The event saw an impressive gathering of industrial honchos like Reliance Group chairman and managing director Mukesh Ambani, Bharti Enterprises vice-chairman Rakesh Bharti Mittal, JSW Steel chairman and managing director Sajjan Jindal, and Hiranandani Group director Darshan Hiranandani besides ITC chairman Y.C. Deveshwar, and city-based businessmen like RP-Sanjiv Goenka Group chairman Sanjiv Goenka and Ambuja Neotia Group chairman Harshavardhan Neotia.

There was also a strong line up of government leaders, including Bhutan Prime Minister Tshering Tobgay, and four Indian central ministers – Finance Minister Arun Jaitley, Railway Minister Suresh Prabhu, Power Minister Piyush Goel and Road Transport, Highways and Shipping Minister Nitin Gadkari. Also present were Britain’s Employment Minister Priti Patel and Bangladesh Commerce Minister Tofail Ahmed besides ambassadors and delegates from 25 countries.

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