Industrialist and RPSG Group Chairman Sanjiv Goenka believes Kolkata can return to its status as a premier benchmark city, provided West Bengal ensures policy consistency and addresses the "confidence deficit."
In an exclusive interview on NDTV's 'Walk the Talk' with Editor-in-Chief Rahul Kanwal, Goenka emphasised that predictability is essential for attracting capital.
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The Need for Consistency
Reflecting on his experience across sectors like power, BPO, and retail, Goenka stated that policies should not be changed every two years. He noted that cities like Bengaluru and Mumbai maintained their dominance because their policy and business infrastructures remained consistent across governments.
"Consistency gives confidence to capital as it likes predictability," Goenka said.
Moving Past 'Ghosts of the Past'
Goenka dismissed old characterisations of West Bengal defined by strikes and resistance to productivity, calling them obsolete. "These are traits of Bengal's past and have completely disappeared from the Bengal system," he remarked, adding that these issues are "ghosts" rather than current problems to be solved.
Impact of the Iran-US War
Addressing the economic fallout of the Iran-US war, Goenka said the disruption is short-term. While fuel-dependent businesses have been hit, he noted that his diversified portfolio-including renewable energy and music-has remained stable.
"Confidence in India's consumers, markets and broader ecosystem is high enough that any shock will be absorbed," he predicted, asserting that the market will bounce back.
Election Context
The industrialist's comments come as West Bengal prepares for assembly elections, scheduled to take place in two phases on April 23 and 29, with counting set for May 4.
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