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Bengal Global Business Summit: Promising Investment on its way

The Bengal Global Business Summit of 2016 began on Friday in the City of Joy, Kolkata and the grand affair has seen the presence of industry moguls right from Mukesh Ambani (Reliance Group) to Niranjan Hiranandani (Hiranandani Group), ITC’s Y C Deveshwar to Subhash Chandra of Essel Group and from Japan to the UK. The business tycoons unanimously agreed that since the election in 2011, ease of doing business has flourished in the state of West Bengal. Also, all the biz personas went ahead and said that their perception towards the eastern state has changed since the last election and that the state is ready for industries to grow.

The business summit is going to be a two-day long affair with some major investment is expected to come its way.  Reliance Industries had invested Rs. 5,000 crore in the past couple of years to create the next generation digital broadband gateway. ITC group is also investing around Rs. 4,000 crore towards the state’s hotel, agro and consumer goods business. Also, the Airtel and Bharti group are already investing around Rs. 9,000 crore and the plan is to expand it by investing another Rs. 3,500 crore in the coming three years.  The Essel group and Zee bangle have committed to bring an investment of Rs. 4,000 crore in the next two years while TCG Group ahs promised to make an investment of Rs. 20,000 crore in a Greenfield refinery which is said to be the biggest investment proposal received.

With all the major investments promised and CM Mamata Banerjee stating to continue her support towards ease of doing business, it seems like the state of West Bengal is on its way towards becoming an investor friendly industrial state.

Source: The Indian Express

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