West Bengal Finance Minister Swapan Dasgupta said on Saturday that the state will unveil its new industrial policy on Independence Day, signalling the BJP government's push to revive manufacturing through a sharper investment strategy. The move marks a departure from the erstwhile TMC dispensation's hands-off land acquisition policy for industries.
Addressing a capital markets conclave organised by the Confederation of Indian Industry, Eastern Region, Dasgupta stressed the need for a comprehensive land policy and highlighted the importance of reusing land belonging to idle factories. He added that the government would also focus on fiscal incentives for industry.
Roadmap To Position Bengal As Leading Industrial Hub By 2027
Industries Minister Tapas Roy said the government was working on a comprehensive roadmap for industrial growth. The objective, he said, was to position West Bengal as a leading industrial destination by 2027 through a transparent, investor-centric policy.
Roy said the new policy would include a streamlined single-window clearance mechanism, line-based approvals, GIS-enabled land banks, a clear incentive framework and cluster-based industrial development. He added that the next phase of the roadmap is expected to be announced by August, alongside a dedicated startup policy and a Global Capability Centre ecosystem.
Dasgupta pointed to Bengal's large pool of skilled manpower, saying many skilled workers were forced to migrate elsewhere for jobs due to a lack of opportunities within the state. He described this as skilled individuals effectively becoming economic refugees, underlining the need to retain talent locally.
Land Policy At The Centre Of A Long-Running Political Debate
Bengal's industrial policy has long been shaped by the politics of land, particularly since Mamata Banerjee came to power in 2011 on the back of anti-land-grab movements in Singur and Nandigram. The BJP has argued that the previous government's reliance on state-owned land banks, without a framework for fresh private acquisition, limited large manufacturing projects.
(With PTI inputs)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.