Her authorities is courting prime industrial homes, internet hosting high-profile summits, and clearing the decks for tasks throughout sectors. However a controversial rollback legislation, paired with long-standing land acquisition hurdles, has raised questions concerning the credibility of this drive.
Which brings us to the actual query: is that this Mamata Banerjee’s ‘Buddhadeb Bhattacharjee’ second?
Rekindling previous ties
On June 10, Tata Sons chairman N. Chandrasekaran met Banerjee on the Chief Minister’s Workplace in Nabanna, the primary such assembly since she got here to energy. That alone is loaded with symbolism. The final time the Tata Group loomed this huge in Bengal’s political reminiscence was in the course of the Singur standoff of 2008, when the Nano mission was pulled from the state after after Banerjee-led protests over land acquisition. The fallout helped propel her to energy.
Additionally Learn: Mamata rekindles Tata ties? Nearly two decades after the Nano walkout, a new chapter could be beginning
This newest assembly wasn’t only a courtesy. The Trinamool Congress referred to as it a “constructive dialogue on Bengal’s industrial development and rising alternatives,” suggesting a thaw in relations. In response to TOI, they mentioned land availability and even floated the thought of a direct Air India flight to Europe. No MoUs have been signed, nevertheless, however either side signalled a willingness to re-engage.
Banerjee had hinted at this renewed equation in the course of the Bengal International Enterprise Summit (BGBS) in February. As per TOI, a day earlier than the summit, she spoke to Chandrasekaran and later instructed the viewers, “He has assured (me) that they need to make investments increasingly in Bengal.”
And that intent is popping into motion.
Tata Consultancy Providers obtained clearance in June to start Section I of its Bengal Silicon Valley campus in New City, as reported by The Financial Occasions. The 11-storey tower, with 9 lakh sq ft of workplace house, is anticipated to create 5,000 direct jobs.
Section II might add one other 20,000 jobs, taking the overall to 25,000. The mission spans 30 acres throughout Sanchita Park and the Bengal Silicon Valley Hub, with 12,500 seats set to be operational by year-end.
Again in 2006, it was the Nano mission in Singur that sparked a fierce land agitation. Then-CM Buddhadeb Bhattacharjee refused to budge, Banerjee led the protests, and by 2008, Tata Motors moved to Gujarat.
Narendra Modi, then-Gujarat CM, despatched Ratan Tata a one-word SMS: “Welcome.” The Nano didn’t final, however the political shift it triggered was large.
Seventeen years later, Banerjee is on the opposite facet of the desk. That’s why comparisons with Buddhadeb’s failed industrial gamble are again.
The state is clearly recalibrating. It needs jobs, funding, and it’s partaking with teams it as soon as saved at arm’s size. However Banerjee can also be strolling a tightrope, improvement on one facet, political reminiscence on the opposite.
Bengal International Enterprise Summit 2025
The eighth version of BGBS, held in Kolkata on February 5–6, was West Bengal’s headline investor outreach occasion this 12 months. In response to The Hindu and India Right this moment, Banerjee introduced that the summit drew funding proposals price ₹4.4 lakh crore throughout 212 MoUs and Letters of Intent.
Additionally Learn: Mamata Banerjee seeks apology, correction as ‘Bihar becomes West Bengal in NITI map’
She reiterated her pitch that Bengal is among the many “most secure and smartest” funding locations. MoUs, nevertheless, are non-binding. However the turnout was vital: practically 5,000 delegates, together with 25 ambassadors, 200 international delegates from 40 nations, and representatives of 20 associate nations.
Who’s investing and the place the cash’s going:
Reliance Industries: Mukesh Ambani pledged to double Reliance’s funding in Bengal to over ₹1 lakh crore by 2030. This consists of an AI-ready information centre in Kolkata, extra Reliance Shops, and inexperienced power tasks below the “Photo voltaic Bangla for Sonar Bangla” initiative. Ambani additionally introduced Bengal’s first cable touchdown station in Digha and an enlargement of retail shops from 1,300 to 1,700 over three years.
JSW Group: Sajjan Jindal dedicated ₹16,000 crore for 2 800 MW energy crops in Salboni, with plans for an industrial park and funding in Durgapur airport.
RP–Sanjiv Goenka Group: ₹10,000 crore throughout power, healthcare, and training.
Ambuja Neotia Group: ₹15,000 crore over 5 years throughout actual property, healthcare, tourism, and a golf-themed township.
ITC: Reaffirmed plans for an AI-driven world centre of excellence and a brand new FMCG manufacturing plant.
ONGC: Allotted 15 acres in Ashoknagar for oil and gasoline exploration at ₹1. Banerjee mentioned, “They’ve efficiently found oil and gasoline… We’re supporting ONGC’s initiative.”
The numbers vs the narrative
West Bengal has emerged among the many prime Indian states for company industrial funding intentions in 2024, in keeping with The Occasions of India, which cited the DPIIT Annual Report 2024–25. Chief Minister Mamata Banerjee mentioned the state obtained ₹39,133 crore in funding proposals from 29 industrial homes between January and November 2024, a pointy leap from the standard ₹4,000–10,000 crore vary in earlier years.
Banerjee claimed that Bengal had turn into “a front-runner in receiving concrete huge industrial funding intentions,” citing the central authorities’s Division for Promotion of Trade and Inner Commerce (DPIIT) report. She mentioned the state had “surpassed all of the states in attracting (huge) company industrial funding intentions in 2024.”
The BJP, nevertheless, dismissed her assertion as deceptive. “Cease mendacity Mamata Banerjee,” the occasion’s co-incharge for Bengal, Amit Malviya, posted on X. “Here’s a truth test on West Bengal’s Funding Intentions vs Precise Funding.”
Citing official information, Malviya mentioned Bengal ranked fourth in funding proposals between January and November 2024, drawing ₹39,133 crore, simply 7.45% of the nationwide whole. However when it got here to precise funding, he mentioned the state had fallen to 14th place, with simply ₹3,735 crore realised until November 2024, down from ₹4,930 crore in 2023, and accounting for just one.2% of the nationwide share.
He additionally pointed to West Bengal’s absence from the India Industrial Land Financial institution (IILB), a GIS-enabled database of commercial parks launched in 2020, calling it an indication of the state’s “lack of dedication to Ease of Doing Enterprise.”
Nonetheless, the federal government is planning a Enterprise and Trade Conclave after Durga Puja 2025. TOI quoted Principal Chief Financial Adviser Amit Mitra saying the conclave would give attention to industrial efficiency forward of the 2026 elections. It’s not a substitute for BGBS, however a tighter showcase of outcomes.
These are the sectoral focus areas:
Metal: 5 new crops deliberate in Jangalmahal, anticipated to herald ₹32,000 crore.
MSMEs: 90 lakh items using 1.3 crore individuals. Loans price ₹9.5 lakh crore sanctioned. Land supplied at ₹1 for district malls with SHGs.
Leather-based: Bengal contributes 50% of India’s $700 million leather-based exports.
Gems & Jewelry: Exports price $1.8 billion in FY24.
Semiconductors & IT: GlobalFoundries to arrange a design and testing hub in Kolkata’s Energy Centre. Santech International Inc can also be exploring a mission. Fabrication amenities might observe.
Meals processing: Shrimp exports hit $423 million in FY24.
Medical exports: $20.5 million price of pharma and medical gear exported in 2024.
Banerjee can also be set to inaugurate a brand new leather-based and textile hub in Alipore.
Rebuilding the infrastructure spine
As per media experiences in Might, the West Bengal Industrial Growth Company (WBIDC) is getting ready over 7 acres at Kharagpur Normal Industrial Park for brand new allotments. That is a part of a 205-acre park in Nimpura. An in depth land survey is underway utilizing GPS-based tech.
Since 1976, 28 items have been operational on this space. The mission is below the state’s Scheme for Authorized Industrial Park (SAIP), cleared by Cupboard in 2021.
Different key hubs embrace the Vidyasagar Industrial Park, Panagarh Industrial Park, and Raghunathpur Industrial Park.
In response to The Hindu, Infosys opened a ₹426 crore, 3.2 lakh sq. ft. campus in Kolkata in December 2024, producing 4,000 jobs.
Moreover, the federal government, in the course of the Bengal summit in February, introduced that it had arrange a high-level Funding Synergy Committee as a single-window interface, in keeping with Enterprise Commonplace. Digital portals for land and permits are actually reside.
A rollback legislation that spooked the boardroom
As per Monetary Categorical, in March 2025, the state handed a controversial legislation—The Revocation of the West Bengal Incentive Schemes and Obligations within the Nature of Grants & Incentives Act—permitting it to cancel incentives given since 1993 and reclaim payouts.
The transfer has rattled business gamers.
In response to The Financial Occasions, Dalmia Bharat Ltd and Birla Corporation have flagged concerns that just about ₹430 crore in dues might now be in jeopardy.
An official from Dalmia Cement (Bharat) Ltd, a subsidiary of Dalmia Bharat, mentioned the corporate was anticipating ₹236.32 crore plus 8% curiosity below the now-revoked ‘WB State Assist for Industries Scheme 2013’.
Birla Company, additionally impacted, revealed it was sanctioned ₹55.66 crore in Industrial Promotion Help by the West Bengal State Industrial Growth Company (WBSIDC). It additionally has a pending declare of ₹138.58 crore.
Each firms worry these funds could not come by following the introduction of the Revocation Act.
The Monetary Categorical notes that the revocation “marks a pointy coverage shift that would have far-reaching penalties for investor sentiment and future industrial participation within the state.”
In comparison with Buddhadeb Bhattacharjee’s land acquisition disaster, this reversal may very well be extra damaging as a result of it hits belief.
So, is that this her Buddhadeb second?
In some methods, sure.
Each Bhattacharjee and Banerjee pushed for industrialisation, and each bumped into deep-rooted political and structural roadblocks. However their missteps are completely different.
Bhattacharjee failed to hold individuals with him. Banerjee is now playing with investor belief. One came across land; the could on credibility.
The Tata assembly was a hopeful sign. The motivation rollback not a lot. Whether or not Banerjee can flip this second into a long-lasting reboot, or whether or not it ends as one more missed likelihood in Bengal’s industrial journey, continues to be broad open.
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
