2 months ago
Bengal Prepares First Industrial Policy, Targets Investor Growth
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.
Bengal will release its first industrial policy in August 2024, with the draft in Minister Tapas Roy’s possession.
The policy aims to repeal the Urban Land Ceiling Act, allowing larger land acquisitions for industry and simplifying approvals.
Fourteen countries have expressed interest; Mitsubishi plans a visit to Durgapur next month to consider a new plant.
Shyam Metallic’s chairman Sumit Chatterjee announced Rs 6,000 crore for Jamuria and Rs 5,900 crore for Kharagpur expansions.
Critics say the previous government left 6,688 industrial units in Bengal over 50 years, prompting the new administration to change course.
- Who
- Bengal Industry Minister Tapas Roy and industrial leaders
- What
- Drafting and releasing Bengal’s first industrial policy and announcing major expansions
- Where
- Bengal state, Durgapur, Jamuria, Kharagpur
- When
- Policy to be released in August 2024; expansions underway; Mitsubishi visit next month
- Why
- To attract investment, repeal land ceiling restrictions, and reverse industrial decline
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










