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Merchants’ Chamber of Commerce & Industry organised MCCI Diplomats Conclave: Bengal as a Trade & Business Destination on 12 April 2022 at 3 p.m. at Kolkata.
Mr. P. Kamalakanth, Executive Director, WBIDC, addressed the Conclave as the Chief Guest. MCCI Diplomats Conclave was also addressed by Mr. Yemi Odanye, Deputy Head of Mission, British Deputy High Commission, Mr. Zha Liyou, Consul General of the People’s Republic of China, Mr. Manfred Auster, Consul General of the Federal Republic of Germany, Mr. Yamasaki Matsutaro, Acting Consul General of Japan and Mr. Eshor Raj Poudel, Consul General of Nepal.
While welcoming the Guests, Mr. Rishabh C. Kothari, President, MCCI said that associate 5 countries have always looked at West Bengal very strategically from business point of view and have been working with West Bengal closely in terms of creating infrastructure, technology transfer and human resource development. Japan’s Mitsubishi Chemical Corporation, now a TCG group company has brought the highest FDI in West Bengal, nearly a decade ago.
In his address, Mr. Kothari referred that FDIs have been flowing into the state but the IT sector, which is mostly export oriented, has attracted the maximum FDI. West Bengal’s IT exports have reached nearly Rs 25,000 crore in the last couple of years and still there is enormous growth potential to be realised.
“We need to look beyond IT and seek investment into specialty heavy industries” – said by Mr. Kothari.
“FT Agreement will be a game changer. 18 Companies are looking to expand and relocate their investment to West Bengal from other states. UK is investing in e-bike manufacturing in Kolkata and investment in manufacturing in Railways will be allowed within next months.
In Bengal Global Business Summit, UK will be a partner country representing 35 member business delegation. Infrastructure, environment, energy, Manufacturing, agricultural technology are few areas where UK and West Bengal can work together – said Mr. Yemi Odanye, Deputy Head of Mission, British Deputy High Commission.
Mr. Zha Liyou, Consul General of the People’s Republic of China mentioned that Supply-chain did not suffer during the pandemic between India and China, rather it has seen tremendous growth. Indian and Chinese Business communities need to sit together to further strengthen the bond. He said that China is now operating a fast train from Yunnan to Laos, close to the latter’s Thai border. China is also running a train to Myanmar. India can benefit from such rapid trains that save time. Yunnan province offers huge business potential for West Bengal, which most Indians are unaware of. Yunnan is two hours away by air, and Indians can go there for high quality and cost effective medical care.
Mr. Liyou proposed the establishment of sister relationships between Indian industry clusters, such as the one around Durgapur Airport, and Chinese clusters
Mr. Manfred Auster, Consul General of the Federal Republic of Germany pointed out that currently the whole world is witnessing 3 major challenges namely climate change, pandemic and Russia-Ukraine war and all these will have major impact on business. Globalisation needs a critical analysis and review. He suggested to concentrate on Zero-emission economy, industry-4.0 and urged the government to take these into account while framing the policy for business.
Mr. Yamasaki Matsutaro, Acting Consul General of Japan in his address mentioned that Japan will be the partner country in the upcoming BGBS. In the last month, both countries have presented a joint statement on encouraging Public Private Partnership between these two countries. While speaking about investment opportunities in West Bengal, Mr. Marsutaro referred that there are 200 Japanese business centers in West bengal and 27 Japanese companies headquartered in West Bengal. The Japanese companies are investing in eco friendly Mobility in India.
In the Context of Business with Bengal, Mr. Eshor Raj Poudel, Consul General of Nepal in his address mentioned that Nepal offers surplus hydro electric power to West Bengal. Nepal wants to cooperate with Bengal in certain areas namely medical, education, IT and HR to encourage B2B and Business Partnership between these.
Mr. P. Kamalakanth, Executive Director, WBIDC said that FTA is a policy perspective of Government of India. He said that he would be delighted if any investment comes to India, particularly to West Bengal.
Mr. Kamalakanth lauded the industrialists in West Bengal as pioneers. BGBS will communicate to the world that foreign investments are secure in West Bengal.
The Government of West Bengal has initiated land purchase policy and State Approved Industrial Parks (SAIP) are meant to help the MSME sector in the State. There are 70 lac MSME businesses operating in the State.
Mr. Kamalakanth said that the State of West Bengal presents a remarkable dichotomy in the sense that both the agricultural and industrial sectors have huge potential for growth.
The MCCI Diplomats Conclave ended with a hearty Vote of Thanks delivered by Mr. Lalit Beriwala, Sr. Vice President, MCCI.
