October 08, 2008

WB attracts INR 63,961 crore investment proposals in 2007

PTI reported that West Bengal government had succeeded in attracting 7.7% of the total investment proposals in 2007 through industrial entrepreneurs memorandum among the leading industrial states of India.

Mr TK Dasgupta deputy director of industries said that West Bengal received 226 industrial entrepreneurs memorandums involving INR 63,961 crore in 2007, which translate into 7.7% of the aggregate investment attracted by Gujarat, Maharashtra, Orissa, Chhattisgarh and Jharkhand beside Bengal. He added that "Total additional employment generation from the investment was expected 117,000.''

Analysis of various industrial entrepreneurs memorandum issued during the year reveals that maximum investment proposals came from iron & steel sector contributing 46.64% or INR 29,834 crore followed by power sector that attracted 27.7% or INR 17,714 crore of the total pro posed investment.

In 2007, West Bengal received 15 proposals involving INR 2,190 crore and employment of 6,512 people in the emerging industry of the state, automobile and auto ancillary. Most of these were from component makers for TATA Motor's small car project at Singur.
Among notable investment proposals from iron and steel sector were Jai Balaji Industries that announced investment of INR 7,737 crore while Adhunik Corporation said that it will pump INR 1850 crore in Purulia district.