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Bengal receives worth Rs 3.76 lakh crore investment proposals at business summit

Business leaders from 28 countries, a host of prominent figures of corporate India as well as political dignitaries participated in the seventh edition of the two-day Bengal Global Business Summit (BGBS).

Edited By: Shashwat Bhandari @ShashBhandari New Delhi Updated on: November 22, 2023 18:30 IST
West Bengal Chief Minister Mamata Banerjee addresses 7th
Image Source : PTI West Bengal Chief Minister Mamata Banerjee addresses 7th Bengal Global Business Summit, in Kolkata.

West Bengal has received investment proposals worth over Rs 3.76 lakh crore during the business summit that concluded today, informed Chief Minister Mamata Banerjee.

The proposals were received across various sectors, the chief minister mentioned while addressing the summit.

A total of 188 Memorandums of Understanding (MoUs) and Letters of Intent (LoIs) were signed during the summit, she added.

Reliance to invest additional Rs 20,000-crore investment in Bengal 

Yesterday, Reliance Industries Chairman and MD Mukesh Ambani announced an additional Rs 20,000-crore investment for West Bengal over the next three years.

Ambani said the fresh investment will be in the areas of digital life solutions, retail and bio-energy.

"Bengal has been one of the largest investment destinations for Reliance... We plan to invest an additional Rs 20,000 crore in Bengal in the next three years for enhancing digital life solutions, augmenting Reliance Retail footprint and on bio-energy," he said at the Bengal Global Business Summit (BGBS).

Reliance Industries has invested close to Rs 45,000 crore in the last few years in the state, Ambani said.

"Reliance will leave no stone unturned to accelerate Bengal's growth," he asserted.

The objective is to further enhance digital life solutions aimed at augmenting livelihoods in Bengal, and providing quality education, healthcare and agricultural solutions at scale, Ambani said.

"Reliance Retail, too, is fast increasing its footprint in the state. Our network of nearly 1,000 retail stores will expand to over 1,200 within the next two years," he said.

Ambani, who had also attended the 2019 edition of Bengal's marquee business summit, said owing to Jio Mart, 5.50 lakh kirana merchants in the state have been brought under the umbrella of modern and organised retail, bringing them higher productivity, income and benefits of scale.

Reliance Industries at present operates nearly 20 lakh square foot of warehouses in the state, which will increase "manifold", he said.

"In the area of bio-energy, we are planning to set up compressed bio-gas (CBG) plants in Bengal that will enable farmers to increase their incomes by doubling up as 'anna daatas' and 'urja daatas' ─ producers of food as well as energy," he said.

It aims at establishing 100 compressed CBG plants in the next three years, consuming 5.5 million tonnes of agricultural residue and organic waste.

Ambani said the Reliance Foundation will also take up the task of renovating and restoring the iconic Kalighat Temple in Kolkata to regain its "original glory".

"We are in the process of repairing the entire temple complex, including the centuries old heritage structures and restoring the same to their original glory," the Reliance Industries chairman and MD added.

With inputs from PTI

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