3 weeks ago
West Bengal to finalise new industrial policy after stakeholder meet
The government of West Bengal, a state in India, is making a new plan to help businesses and create more jobs.
This plan is called the new industrial policy.
Industry Minister Tapas Roy said there will be a meeting with business stakeholders on August 11.
Business people can share their suggestions at that meeting.
After the meeting, a group of ministers will discuss the policy, and then the Cabinet will approve it.
In the past, the government gave incentives to companies that invested money in the state.
Now, the government wants to give incentives to companies that create jobs instead.
The government has set aside 5,000 crore rupees for these incentives this year.
A big Japanese company called Mitsubishi is expected to invest a lot of money in the state.
At the same event, Swami Vigyanand Ji asked people to join the World Hindu Congress in Mumbai in December.
West Bengal's new industrial policy will be discussed with industry stakeholders on August 11 before going to a Group of Ministers and the Cabinet.
The policy marks a shift from investment-linked incentives toward incentives linked to employment generation.
The government has earmarked Rs 5,000 crore for industrial incentives in the current fiscal year.
Japanese engineering major Mitsubishi is expected to make a major investment in West Bengal.
At a Hindu Economic Forum meeting in Kolkata, Swami Vigyanand Ji urged people to attend the World Hindu Congress in Mumbai from December 18-20.
- Who
- West Bengal Industry Minister Tapas Roy, industry stakeholders, and Japanese firm Mitsubishi
- What
- Finalisation of West Bengal's new industrial policy, which shifts incentives from investment-linked to employment-linked, with a stakeholder consultation before Cabinet approval
- Where
- West Bengal, India; announcement made at a Hindu Economic Forum meeting in Kolkata
- When
- Reported on August 8; stakeholder meeting scheduled for August 11
- Why
- To attract large industrial investment, revive large-scale industrial activity, and position the state as an investment destination
Key facts
- Stakeholder meeting
- August 11
- Approval path
- Group of Ministers, then Cabinet
- Incentive approach
- Shift from investment-linked to employment-linked incentives
- Incentive budget
- Rs 5,000 crore (current fiscal)
- Expected investor
- Mitsubishi (Japanese engineering major)
- World Hindu Congress
- Mumbai, December 18-20
- News agency
- PTI
Quotes
Tapas Roy
West Bengal Industry Minister
““The stakeholder meeting will be held on August 11. After that, the GoM will meet, and then the policy will go to the Cabinet.””
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