Bengal Global Business Summit 2017
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The third edition of the Bengal Global Business Summit 2017 (BGBS-2017) was held on 20th and 21st of January 2017 at Milan Melan Mela Grounds, Kolkata, with the theme ‘Come to Bengal, Ride the Growth.’ Along with Indian companies, delegates of foreign companies from 29 countries also participated
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The third edition witnessed a decline of Rs 14,963.71 crore in terms of proposed investment, when compared to the summit held a year ago. The absence of central government sponsored projects was the main reason for the decline in total investment proposals. The only major investment project announced by the central government was by GAIL for an amount of Rs 3,000 crore, for its proposed gas pipeline from Jagdishpur to Haldia and Bokaro to Dhamra (JHBDPL). The majority of project investments was announced by state government agencies and private companies.
In all, a total of Rs 2,35,290.03 crore of business announcements, business document exchanges, expressions of interest and investment proposals were registered at the two-day summit. As per the official data, the manufacturing & Infrastructure sector attracted the maximum investment of Rs 61,765.70 crore. Followed by MSME with Rs 50,710 crore, Urban development with Rs 46,600 crore and Transport with Rs 38,801 crore.
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Sectors |
Proposed Investment (Rs Crore) |
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2017 |
2016 |
2015 |
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Manufacturing & Infrastructure |
61,765.70 |
117,107.24 |
67,026.00 |
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Food Processing, ARD & Fisheries |
10,649.39 |
390.50 |
1,605.00 |
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IT, ITES & Telecom |
18,540.70 |
8,650.00 |
223.00 |
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Transport |
38,801.00 |
9,384.00 |
25,200.00 |
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Education & Skill Development |
140.00 |
2,150.00 |
1,438.00 |
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Hospitality & Tourism |
784.55 |
450.00 |
1,950.00 |
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Healthcare |
2,018.69 |
1,360.00 |
2,710.00 |
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Urban Development |
46,600.00 |
29,000.00 |
82,703.00 |
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Financial Services |
100.00 |
00 |
1,088.00 |
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MSME |
50,710.00 |
50,000.00 |
17,657.00 |
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Power & NES |
1,580.00 |
23,300.00 |
12,000.00 |
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Mining |
2,018.69 |
1,360.00 |
2,710.00 |
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Total |
235,290.03 |
250,253.74 |
243,100.00 |
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The largest investment proposal was made by China's TEB Technologies for mass rapid transit system. The company proposes to make an investment of Rs 27,200 crore in the next five to seven years. The next biggest proposal was by the Shapoorji Pallonji group. The group intends to invest around Rs 24,000 crore in Real estates and Urban infrastructures.
While Reliance Industries proposes to invest Rs 12,500 crore in telecom infrastructures, RPG group has committed Rs 10,000 crore in FMCG over the next five years and Ambuja will develop a theme-based township at Rs 10,000 crore.
The state government, on its part, intends to develop Tajpur port at Rs 12,000 crore, a truck terminal and Paribahan Nagar at Rajarhat for Rs 10,000 crore.
The proposals by Great Eastern Energy for the shale gas expansion project (Rs 6,800 crore), Exide (Rs 1,120 crore), TCG (Rs 1,000 crore) were also notable. Auto Haus, China, will make an investment of Rs 1,334 crore for an e-rickshaw manufacturing unit.
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Quote of the week:
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"Any project takes time to implement. One has to prepare the DPR and then carry out other studies. We announce only those projects which will be implemented or have commitment for implementation"
- Chief Minister, Mamata Banerjee
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