“We need to harness our growth strategy from the capabilities of our people, this will lead to a more sustainable growth model”
Merchants’ Chamber of Commerce & Industry organized an Exclusive Interaction with Shri Harshavardhan Neotia, Owner, Bengal Ambuja Housing Development Ltd. on April 18, 2022 at ITC Royal Bengal, Kolkata.
While welcoming Shri Harshavardhan Neotia in this Interactive Session, Shri Rishabh Kothari, President, MCCI lauded his pioneering step to introduce Public Private Partnership System in Kolkata. He pointed out that the real estate industry has been struggling with flat growth due to demonetization and GST. The recent pandemic made the going even tougher. However, Ambuja Neotia Group quietly strengthened its business by offering niche quality products and timely delivery to its customers.
While speaking on the potential and opportunities in West Bengal, Shri Harshavardhan Neotia said that there is a good prospect and potential in West Bengal for enhancing sound business environment. The reality in the ground for West Bengal is better than the perception. Ambuja Neotia Group has invested 70 percent of its investment in the State. Being born and brought up in West Bengal, Shri Neotia has a close connection with the State which made him attached to it. He said that the perception of West Bengal is not favorable and the business community of the State should work towards that. Shri Neotia mentioned that the Government of West Bengal is ready to support the industry in every aspect.
In the context of lower investment level in the State, Shri Neotia answered that there is a misperception; the industries outside West Bengal believed that West Bengal is no more favorable or supportive for the industries after the incidence of TATA-Singur Controversy. However in reality, it was a pro-land movement. It is the perception about West Bengal and it is going to take time to overshadow this negative perception.
He is hopeful that Bengal Global Business Summit 2022 will open up many new avenues for the development of business environment in the State.
He also mentioned that the robust improvement in infrastructure in the State in terms of construction of East-West Metro connectivity will be the major game-changer especially for Kolkata. He said that the Government is working towards the development of business infrastructure in terms of construction of Milan Mela Ground, Convention Centre. He is optimistic to see a lot of movements of international exchanges in coming 2-3 years. UNESCO has added Durga Puja in Kolkata to its 2021 list of Intangible Cultural Heritage, Shri Neotia felt that this would be another game changer for the State.
“We must harness our growth strategy from the capabilities of our people’ – advised Shri Neotia.
While answering the question on current inflationary burden, Shri Neotia replied that this inflation is not going to last very long. Over the last two years, Covid has caused huge disruptions in supply-chain. On the other hand, Russia & Ukraine war is leading to the increase in fuel price all over the world.
The Session ended with a hearty Vote of Thanks proposed by Shri Namit Bajoria, Vice President, MCCI.