The ASSOCHAM has set a target to itself to facilitate Rs. 8 lakh crore worth of fresh investments for the State of West Bengal in next 3 years, which will help generate job opportunities for 6 lakhs of its skilled and semi-skilled workforce.
Stating this at his maiden Press Conference held here on Friday, the newly elected President of ASSOCHAM, Mr. Sajjan Jindal, who is one of the major investors in West Bengal said, the State will continue to be a focused State for the Chamber for another three years.
He said, though the Chamber had set a target of Rs.1 lakh crore of investment for the state for 2007-08, the target was far exceeded as the State attracted total investments of over Rs. 3 lakh crores.
The ASSOCHAM Chief who addressed the media along with its Secretary General, Mr. D S Rawat further stated that the West Bengal topped a league of Indian states attracting massive investment plans during 2006-07 and 2007-08 and left behind even forward looking States such as Maharashtra, Gujarat and almost the entire Southern belt.
It may be mentioned here that in 2007-08, when Mr. Venugopal N. Dhoot, Chairman of Videocon Group was the President of ASSOCHAM, he had declared West Bengal as a focused State from investment point of view. ASSOCHAM organized road shows inside and outside the country to convince their investors to invest in West Bengal because of its investment friendly policies.
The major investors in the state are SAIL, Larsen & Toubro, JSW, DLF, IOC, Videocon, Reliance, RPG Group, Merlin Group, Jindal Steel, Jai Balaji Group, Adhunik Steel etc. The investments flows have been primarily to sectors like steel, oil, power, gas, electronics, cement, aviation, real estate and IT.
In the backdrop of this, Mr. Jindal announced that ASSOCHAM would continue to focus on steel, oil, automobile, power, renewable energy, textile, cement, IT, telecom, real estate and SSI hub in view of their potential factor so that the State has more and more of such players. These sectors would have the highest employment generation potential and will be beneficial.
The Chamber Chief pointed out that with rich mineral base in the State, steel sector attracted a whopping investments announcements to the tune about Rs.57,000 crore in the last 12 months and so.
Mr. Jindal who is the Vice Chairman & Managing Director of JSW and one of the major investor’s clarified that the industrial climate of the entire state under the current regime has turned out to be extremely investor friendly which is resulting in transformation of infrastructure of West Bengal.
The consequences of economic policies pursued and followed by the Buddadeb Bhattacharjee government have sent absolutely positive and encouraging signals to investors and the fact today is because of this, West Bengal is becoming a major hub of industrial activities in the entire Eastern part of Indian Peninsula.
Commenting on stray incidences of violence and resentments that erupted in West Bengal against its sectorial industrial development, the ASSOCHAM Chief said that such cases do happen when development takes place and have temporary impact and ultimately development gets the preference.
Mr. Jindal favoured that at times when State is in the midst of becoming `preferred investment destination’, the transparent land acquisition policy should be in place and supported the government by saying that whose land is acquired must get adequate compensation, job and social security.
He favoured the idea that land oustees in the process of industrial transformation should be made stakeholders to such processes so that responsibilities are assigned on them to become its integral part.
Mr. Jindal concluded saying that on account of forward looking policies of the current regime, the data show that West Bengal has already emerged as the leading State in cornering the highest investments in fiscal 2007-08.
The ASSOCHAM Chief exuded confidence that in future, the West Bengal government will do its best and the ASSOCHAM would be able to accomplish its target for generating Rs. 8 lakh crore of additional investment with job opportunities for its 6 lakh workforce.
In this connection, Mr. Jindal said the Chamber shall organize road shows in India and abroad and further added that international repute agency has been engaged to undertake the study of the State and identify newer areas for fresh investment.
Stating this at his maiden Press Conference held here on Friday, the newly elected President of ASSOCHAM, Mr. Sajjan Jindal, who is one of the major investors in West Bengal said, the State will continue to be a focused State for the Chamber for another three years.
He said, though the Chamber had set a target of Rs.1 lakh crore of investment for the state for 2007-08, the target was far exceeded as the State attracted total investments of over Rs. 3 lakh crores.
The ASSOCHAM Chief who addressed the media along with its Secretary General, Mr. D S Rawat further stated that the West Bengal topped a league of Indian states attracting massive investment plans during 2006-07 and 2007-08 and left behind even forward looking States such as Maharashtra, Gujarat and almost the entire Southern belt.
It may be mentioned here that in 2007-08, when Mr. Venugopal N. Dhoot, Chairman of Videocon Group was the President of ASSOCHAM, he had declared West Bengal as a focused State from investment point of view. ASSOCHAM organized road shows inside and outside the country to convince their investors to invest in West Bengal because of its investment friendly policies.
The major investors in the state are SAIL, Larsen & Toubro, JSW, DLF, IOC, Videocon, Reliance, RPG Group, Merlin Group, Jindal Steel, Jai Balaji Group, Adhunik Steel etc. The investments flows have been primarily to sectors like steel, oil, power, gas, electronics, cement, aviation, real estate and IT.
In the backdrop of this, Mr. Jindal announced that ASSOCHAM would continue to focus on steel, oil, automobile, power, renewable energy, textile, cement, IT, telecom, real estate and SSI hub in view of their potential factor so that the State has more and more of such players. These sectors would have the highest employment generation potential and will be beneficial.
The Chamber Chief pointed out that with rich mineral base in the State, steel sector attracted a whopping investments announcements to the tune about Rs.57,000 crore in the last 12 months and so.
Mr. Jindal who is the Vice Chairman & Managing Director of JSW and one of the major investor’s clarified that the industrial climate of the entire state under the current regime has turned out to be extremely investor friendly which is resulting in transformation of infrastructure of West Bengal.
The consequences of economic policies pursued and followed by the Buddadeb Bhattacharjee government have sent absolutely positive and encouraging signals to investors and the fact today is because of this, West Bengal is becoming a major hub of industrial activities in the entire Eastern part of Indian Peninsula.
Commenting on stray incidences of violence and resentments that erupted in West Bengal against its sectorial industrial development, the ASSOCHAM Chief said that such cases do happen when development takes place and have temporary impact and ultimately development gets the preference.
Mr. Jindal favoured that at times when State is in the midst of becoming `preferred investment destination’, the transparent land acquisition policy should be in place and supported the government by saying that whose land is acquired must get adequate compensation, job and social security.
He favoured the idea that land oustees in the process of industrial transformation should be made stakeholders to such processes so that responsibilities are assigned on them to become its integral part.
Mr. Jindal concluded saying that on account of forward looking policies of the current regime, the data show that West Bengal has already emerged as the leading State in cornering the highest investments in fiscal 2007-08.
The ASSOCHAM Chief exuded confidence that in future, the West Bengal government will do its best and the ASSOCHAM would be able to accomplish its target for generating Rs. 8 lakh crore of additional investment with job opportunities for its 6 lakh workforce.
In this connection, Mr. Jindal said the Chamber shall organize road shows in India and abroad and further added that international repute agency has been engaged to undertake the study of the State and identify newer areas for fresh investment.
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