West Bengal has got investment proposals worth Rs 3.42L cr: CM

Kolkata, April 21

The Bengal Global Business Summit (BGBS)-- 2022 has attracted investment proposals worth Rs 3.42 lakh crore, according to the state Chief Minister, Mamata Banerjee.

"The BGBS -- 2022 has attracted a total investment proposal worth Rs 3,42,375 crore, which is the highest among all the six editions of BGBS. In the past five editions of BGBS combined, our state received investment proposals worth Rs 12.5 lakh crore," Banerjee said on Thursday at the closing programme of the BGBS, an annual event to showcase the state as an ideal investment destination.

She added that these investment proposals will create employment for 40 lakh people.

However, the Chief Minister made it clear that this Rs 3.42 lakh crore of investment proposals are currently in the form of Memorandums of Understanding (MoU).

"We have signed a total of 137 MoUs or letters of intent. These are related to various sectors like infrastructure development, logistics and capacity building," she said.

At the end of the meet there was no official release on the part of the West Bengal government or the West Bengal Industrial Development Corporation on the detailed breakup of the investment proposals received or the MoUs signed.

Understanding that the recent incidents of law and order problems in the state can raise doubts among the potential investors, the Chief Minister, while speaking on the occasion, tried to assure the business delegates on this count.

"West Bengal has stability. West Bengal is safe, so please invest in the state without any fear," Banerjee said.

The BGBS started in 2015. However, in the last two years, the event could not take place because of the Covid-19 pandemic and lockdown. This year it is taking place after a gap of two years.

The Chief Minister said when she wanted to restart the annual business summit this year, many in her own government were sceptical about its success.

"But I said that let us do it. Now, West Bengal has shown the way for other Indian states to start similar business summits," she said.

The BGBS-2023 will be held from February 1 to 3.

On the opening day of BGBS-2022 on Wednesday, Adani Group Chairman and founder Gautam Adani announced a proposed investment of Rs 10,000 crore in West Bengal during the next few years.