West Bengal tops all other states in e-governance. It would probably lead the rest of the country in ease-of-doing-business. Project clearance has to be granted within a time limit. If any government department fails to accord clearance within the scheduled time period, the project is ‘deemed’ as cleared. The system impressed even the diplomatic representative of Japan, which has the largest green-field investment in Bengal through Mitsubishi Corporation.

The investment road show at Ficci on September 7 received a thumping applause from business persons present. Young Puneet Modi, whose business empire has presence in 14 Indian states, said his West Bengal project, Rs.600-crore cement plant at the so-called Maoist infested West Midnapur district, was the only one that faced no time or cost overrun. Dalmia is particularly happy about the investment decision in Bengal where demand for cement grew by 11 per cent last year. The cement sales were flat in the rest of the country following slowdown in the construction sector. Contrary to perception, Y K Modi busy sinking tube wells to provide drinking water in the Maoist-prone districts of Bankura and Purulia was most impressed by the government and police help in the region protecting materials and instruments lying in the open at several parts of the district.

The only thing about which entrepreneurs doing business in Bengal has something to grumble about is the high power tariff charged by fellow businessman Sanjiv Goenka’s CESC Limited, enjoying distribution monopoly in Kolkata and its industrial belt. The power tariff in the CESC distribution region is among the highest in the country despite its thermal power plants being located close to coal supply sources. R V Kanoria, who has a large jute mill in West Bengal, wanted state incentive to set up solar power facility in the factory or ‘open access’ to power. Electricity generated and distributed by the West Bengal Power Development Corporation, NTPC and DVC in the state are a lot cheaper. Sanjeev Goenka, former president of the rival Confederation of Indian Industry, was conspicuously absent in the state investment road show. Interestingly, CESC has, for years, made massive investment to grow its retail business under the brand name of Spensers, until recently a heavily loss making enterprise. This is unusual for a utility company anywhere.

Rajan Bharti Mittal, leading a Rs. 10,000 crore investment employing some 1.3 lakh people, spoke about his mega plans in the services sector and participation in the Digital India programme in the region. Jyotsna Suri, who took over Kolkata’s iconic Great Eastern Hotel, wants to set up another venture at Shantiniketan. “I had been through the state several times. And, always loved to be there again,” she said. Similar sentiments were expressed by several business persons that made the day for Amit Mitra, West Bengal’s minister in charge of finance, commerce and industry, information technology and electronics among others, leading the road show along with principal secretaries, Debashis Sen and S Kishore, and WBIDC managing director Krishna Gupta.

Chief Minister Mamata Banerjee occupied the centre stage even in absence as most of the presenters showered accolades for the industrial transformation of the state. Dalmia, Birla and Suri were all praise for the chief minister who visited their establishments and encouraged their ventures. Surprisingly, none of the participants had any law and order concern. “The state is investing a lot in infrastructure. The labour situation is better in Bengal than most other parts of the country. The availability of power, though expensive in the CESC supply region, was good. The demand in the local market is encouraging,” said a Delhi businessman.

Many feel that West Bengal, sitting at the heart of steel and coal belts and doing extremely well in agriculture and plantation, is most strategically situated to serve the markets not only of India’s seven north-eastern states, but also close to the business hubs in the Asia region, including China, Nepal, Myanmar, Indo-China, Bhutan, Bangladesh, Singapore, Thailand and Malaysia with international connectivity by road, sea and air. Its hinterland is connected with mineral rich Jharkhand and Odisha.

West Bengal occupies the top position in human development index, social sector and women empowerment. In the last four years, the state made massive investments in the industrial and social infrastructure. Expenditure in agriculture and allied services grew by nearly 550 per cent, capital expenditure by 600 per cent and plan expenditure by over 300 per cent. The per capita income in the state was double the national average. The investment road show obviously projected the state in a totally different light than what is generally perceived from media reports. West Bengal beckoned investors with most industry friendly policies and programmes. (IPA Service)