'A new sunrise': Bengal Inc welcomes incentives offered in state's new industrial policy
Kolkata: Incentives proposed in Bengal’s new investment promotion policy, announced by CM Suvendu Adhikari on Thursday, will add momentum to the state’s industrial development, said industry bodies and industrialists. Entrepreneurs said they were also expecting some reforms in land laws and urban development policies.
Jupiter Wagon chairman ML Lohia told TOI: “One of the most commendable aspects of this policy is its incentive structure, through which the tax revenue collected by the state is effectively channelled back to industrialists. In 50 years, I have witnessed several phases of Bengal’s economic and industrial development. I can confidently say that this is one of the most encouraging initiatives the state has witnessed in the last four decades,” he added.
“It is the start of a new sunrise. The policy covers encouragement in terms of incentives in the emerging areas where Bengal’s presence had been almost absent. The other aspect is assistance from the nodal officer to ensure the success of new investments,” said Saroj Poddar Group president Indrajit Mookerjee, also the vice-chairman of Texmaco Rail & Engineering.
CWBTA president Sushil Poddar said, “This will bring in more industries. Traders of Bengal are ready to support to all industries.”
“The policy is forward-looking and reflects a positive outlook,” said Jai Balaji Group chairman Aditya Jajodia. The group on Thursday proposed a Rs 6,000 crore investment in the state in coming years.
CREDAI West Bengal president Sushil Mohta expressed hope that more such announcements would come in the near future. “We hope the govt will consider progressive reforms in land laws and urban development policies to attract greater investments,” he said.
Siddharth Pansari, managing director, Primarc, said, “More industries mean more jobs, and more jobs naturally create demand for homes, offices, retail spaces and supporting infrastructure. This can open up opportunities for real estate beyond Kolkata.”
With the policy identifying textile as one of the thrust sectors, Indian Chamber of Commerce’s National Textiles Committee chairman Sanjay Jain said, “It is encouraging that a textile unit receives an enhanced overall assistance ceiling of 110% of its FCI. If the textile unit is located in a designated ‘priority area’, the ceiling increases to 120% of the Eligible FCI.”
Patton Group MP Sanjay Budhia said: “The first industrial policy of the new govt is a major game changer for industry, which has its direct multiplier effect in terms of employment generation , and creation of physical and social infrastructure.”
Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical, pointed out that the policy’s emphasis on brownfield expansion and industrial corridors will further accelerate this momentum.
BCC&I president Abhijit Banerjee and MCCI president Munish Jhajharia both welcomed the policy.
Jupiter Wagon chairman ML Lohia told TOI: “One of the most commendable aspects of this policy is its incentive structure, through which the tax revenue collected by the state is effectively channelled back to industrialists. In 50 years, I have witnessed several phases of Bengal’s economic and industrial development. I can confidently say that this is one of the most encouraging initiatives the state has witnessed in the last four decades,” he added.
“It is the start of a new sunrise. The policy covers encouragement in terms of incentives in the emerging areas where Bengal’s presence had been almost absent. The other aspect is assistance from the nodal officer to ensure the success of new investments,” said Saroj Poddar Group president Indrajit Mookerjee, also the vice-chairman of Texmaco Rail & Engineering.
CWBTA president Sushil Poddar said, “This will bring in more industries. Traders of Bengal are ready to support to all industries.”
“The policy is forward-looking and reflects a positive outlook,” said Jai Balaji Group chairman Aditya Jajodia. The group on Thursday proposed a Rs 6,000 crore investment in the state in coming years.
CREDAI West Bengal president Sushil Mohta expressed hope that more such announcements would come in the near future. “We hope the govt will consider progressive reforms in land laws and urban development policies to attract greater investments,” he said.
Siddharth Pansari, managing director, Primarc, said, “More industries mean more jobs, and more jobs naturally create demand for homes, offices, retail spaces and supporting infrastructure. This can open up opportunities for real estate beyond Kolkata.”
With the policy identifying textile as one of the thrust sectors, Indian Chamber of Commerce’s National Textiles Committee chairman Sanjay Jain said, “It is encouraging that a textile unit receives an enhanced overall assistance ceiling of 110% of its FCI. If the textile unit is located in a designated ‘priority area’, the ceiling increases to 120% of the Eligible FCI.”
Patton Group MP Sanjay Budhia said: “The first industrial policy of the new govt is a major game changer for industry, which has its direct multiplier effect in terms of employment generation , and creation of physical and social infrastructure.”
Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical, pointed out that the policy’s emphasis on brownfield expansion and industrial corridors will further accelerate this momentum.
BCC&I president Abhijit Banerjee and MCCI president Munish Jhajharia both welcomed the policy.
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