Bengal Global Business Summit 2018: Mamta Banerjee government receives several investment commitments
This year’s Bengal Global Business Summit has brought investment commitments worth Rs 1,700 crore to the Mamta Banerjee government. Reliance Industries has pledged Rs 5,000 crore to implement various projects in the state. These include telecom projects and power distribution networks.
JSW Group has committed Rs 10,000 crore over the next five years to work on various sectors, namely paint and steel. The Adventz group will invest Rs 1,000 to create a multi-modal logistics park, while CESC Ltd plans to expand its power distribution network.
JLL India, a renowned global real estate services firm has predicted that West Bengal will receive investments worth Rs 4,300 crore by 2020. The trends shown in Bengal Global Business Summit suggest that this number will be much bigger.
According to JLL India’s report, West Bengal will benefit from its strategic location in proximity to the national projects in development.
The event had a huge delegation of businessmen, economists and financial experts from over eight countries. These include France, Germany, Poland, Italy, Japan, China, South Korea, Czech Republic and the United Kingdom.
However, the biggest presence was that of China. The Consul General of China in Kolkata, Ma Zhanwu, confirmed that 30 companies participated in the summit. This event was an opportunity for China to meet the goal of investing a total of $200 billion abroad.
Italy also featured a delegation of 30 companies. Most of them come from the transport, infrastructure, metals and leather sectors, and plan to find a suitable base to expand their operations in India.
Italy’s participation in Bengal Global Business Summit 2017 has helped the South European country create joint ventures in railways and IT sectors, explained Damiano Francovigh, the Italian Consul General. Another unnamed Italian company in West Bengal is renovating and expanding its operations to various parts of West Bengal.