2 months ago

Bengal Prepares First Industrial Policy, Targets Investor Growth

Bengal Prepares First Industrial Policy, Targets Investor Growth
Shocking that Bengal did not have industrial policy for so long: Industry Minister Tapas Roy · thestatesman.com

Bengal is making its first industrial policy, which will help businesses start and grow.

The state wants to change a law that limits how much land a company can use, so it can build more factories.

Many countries want to invest in Bengal, and a big Japanese company, Mitsubishi, will visit soon.

A steel company, Shyam Metallic, plans to spend a lot of money to grow its plants in Jamuria and Kharagpur.

The government says it will make it easier for companies to get approvals and land.

The previous government was criticized for not helping businesses, so the new leaders want to fix that.

The new policy should bring jobs and help Bengal catch up with other states.

Key facts

Industrial Policy Release
August 2024
Minister
Tapas Roy
Urban Land Ceiling Act
Repeal Planned
Investor Interest
14 countries
Mitsubishi Visit
Next month
Shyam Metallic Expansion
Rs 11,900 crore total
Industrial Units Left
6,688

Quotes

Industry Minister Tapas Roy

Minister of Industry for the state of West Bengal

“We want to repeal the Urban Land Ceiling Act to acquire hefty land for industry. The new policy is going to be investor‑friendly giving stress for seamless single-window approvals and the policy is designed to woo the investors even from abroad.”
thestatesman.com
“After decades, Bengal now is set to have it’s new industrial policy in August, and the draft policy currently is in my hand.”
thestatesman.com

Sources

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