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Merchants’ Chamber of Commerce & Industry organized its 122nd Annual General Meeting on 28 July 2023 at The Taj Bengal, Kolkata. The theme of the AGM was Destination West Bengal- Investment, Business & Growth Opportunities.
The 122nd Annual General Meeting was addressed by Shri Sobhandeb Chattopadhyay, Hon’ble Minister of Agriculture and Parliamentary Affairs, Dr. Shashi Panja, Hon’ble Minister of Industry, Commerce & Enterprises, Public Enterprises & Industrial Reconstruction, and Smt. Chandrima Bhattacharya, Hon’ble MOS (IC) of Finance, Govt. of West Bengal.
While speaking on the prospect of Bengal as an investment destination, Shri Sobhandeb Chattopadhyay, Hon’ble Minister of Agriculture and Parliamentary Affairs, mentioned that not a single man-day is lost in the State. E-governance is best in the state. The state is endowed with the availability of power, land, and connectivity. Bengal can be chosen as an industrial hub for its self-sufficiency in power, connectivity, and E-governance. He said that the state was providing exemptions on oil mills, tea producing and packaging, cold storage, and cold chains.
Dr. ShashiPanja, Hon’ble Minister of Industry, Commerce & Enterprises, Public Enterprises & Industrial Reconstruction said we are fighting against the decades-old perceptions which had been built against West Bengal. The state holds strong manufacturing capacity in textiles, iron & Steel, and mining.
While emphasizing various advantages that Bengal has such as the availability of industrial parks all over Bengal, simplification of business processes, strong MSME base, declining Debt to GDP ratio, and geographical advantage such as a gateway to North-East and South-East, Bengal is literally reaching beyond Bengal to the World. She mentioned that there is a need to streamline the sand mining policy. She informed that trials have begun in Deocha Pachami which is the biggest coal mine in Bengal as well as in Asia. The government is giving a huge thrust on infrastructure development in the State and set up 3 economic corridors, Dankuni to Raghunathpur in Purulia, Dankuni to Kalyani, and Dankuni to Haldia for logistics parks and townships. She mentioned that industrial parks are on lease in West Bengal. While speaking on ‘leasehold to freehold conversion’ Dr. Panja mentioned that the government would not allow free hold land for conversion and if a lease hold is transferred to free hold the land is to be used for the purpose for which it is being used.
“Whatever the industry needs to flourish in West Bengal, we have here” – said Smt. Chandrima Bhattacharya, Hon’ble MOS (IC) of Finance, Govt. of West Bengal. She mentioned that though a financial crunch is there, the industry will get support at every point from the State. She urged the industry to be with the State, give constructive suggestions and work jointly.
On this occasion, MCCI felicitated the leading industrialists Shri Kunj Bihari Agarwala, Managing Director, Rupa Co. & Ltd, Shyam Sunder Beriwala, Chairman, Shyam Steel Industries Ltd. and Shri Hemant Bangur, Executive Director, Gloster Limited for their outstanding contribution to the economic development of Bengal.
“West Bengal has already announced a number of policies – Maritime Policy, Ethanol Policy, Textile Policy, Electric Vehicle Policy, Renewable Energy Policy, Food Processing Policy, Logistics Policy, and many others. But a little more clarity and a comprehensive outline can attract investments, which can take West Bengal to a bigger spot”, said Shri Namit Bajoria, President of MCCI in his Welcome Address. Panja said the government was providing financial exemptions to ethanol manufacturing on different counts.
Shri Bajoria said that presently, ranking sixth in the country with an economy sizing US$ 221.37 billion with a CAGR of 11.54% between 2016 and 2023, West Bengal is at an opportune moment to take a leap in manufacturing, trading, and servicing. He emphasized reviewing SEZ Policy of the State.
On this occasion, the Ministers released the ‘MCCI West Bengal Repeal Law Compendium’.
While praising the Government’s decision to introduce the regime of “freehold” land ownership from the “leasehold” system through amendment of the relevant law, Rules, and Manual, he viewed that this will undoubtedly boost West Bengal’s industrial rejuvenation at a faster pace and encourage fresh investments in the State in diverse sectors. The Session ended with a hearty Vote of Thanks proposed by Shri Lalit Beriwala, Sr. Vice President, MCCI.
