West Bengal Secures ₹4.4 Lakh Crore in Investment Proposals at 8th BGBS, CM Mamata Banerjee Announces

West Bengal has received investment proposals worth ₹4.4 lakh crore during the 8th Bengal Global Business Summit (BGBS), Chief Minister Mamata Banerjee announced on Thursday. Addressing the concluding session of the two-day flagship industrial summit in New Town, Kolkata, Banerjee expressed her delight at the overwhelming investor response.

Record-Breaking Investment Proposals

“We have received investment proposals worth ₹4,40,595 crore during the 8th BGBS. I am extremely happy,” said Banerjee. The summit, attended by more than 5,000 investors and delegates, resulted in the signing of 212 memoranda of understanding (MoUs) and letters of intent across multiple sectors. At least 16 secretarial meetings were held to discuss potential tie-ups, she added.

Industry Leaders Show Interest

The summit saw participation from key business figures, including Reliance Industries Limited (RIL) Chairman Mukesh Ambani, ITC Chairman Sanjiv Puri, JSW Group Chairman Sajjan Jindal, and RP-Sanjiv Goenka Group Chairman Sanjiv Goenka. Jharkhand Chief Minister Hemant Soren was also present at the inaugural session.

Banerjee noted that the ₹4.4 lakh crore investment proposals were in addition to commitments made by top industrialists like Ambani and Jindal. “On the first day of the summit, industry leaders assured us of major projects. I personally met Mukesh Ambani and Sajjan Jindal after the inaugural session,” she said.

Major Investment Commitments

Mukesh Ambani announced that RIL would double its investment in West Bengal from the current ₹50,000 crore by the end of the decade. “In 2016, when I first attended this summit, RIL’s investment stood below ₹2,000 crore. In less than a decade, it has increased 20 times to over ₹50,000 crore. We shall double this investment by the end of this decade,” he stated.

Sajjan Jindal expressed interest in redeveloping the Andal airport, Bengal’s only greenfield airport, in partnership with the state government and Singapore’s Changi Airport.

Additionally, the Oil and Natural Gas Corporation Limited (ONGC) has received 15 acres of land at a nominal cost of ₹1 for its oil exploration project at Ashok Nagar in North 24 Parganas. Banerjee emphasized that this project would bring West Bengal into India’s petroleum map, as ONGC plans to commercially explore oil and natural gas in the region.

Challenges in Implementation

While the investment proposals mark a significant boost for West Bengal’s economy, it remains to be seen how many will translate into real projects. Historically, not all MoUs signed at summits result in actual investments. However, the enthusiasm from major industrial players signals strong confidence in the state’s business environment.

The Bengal Global Business Summit is one of the state’s biggest initiatives to attract investors and boost economic growth, with the latest edition reaffirming West Bengal’s potential as a major investment destination.

Sources By Agencies

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