For at least seven years now, the Bengal Global Business Summit drew little from the investors. Though people like Mukesh Ambani and Sajjan Jindal attended the meetings, there was no major investment in the manufacturing sector. This year, however, there is hope. Governor Jagdeep Dhankhar, who till last year, called the summit a “scam”, participated in the event this year and gave inaugural address, too.
Interestingly, Gautam Adani, who overtook Mukesh Ambani recently as the country’s richest businessman, was present at the summit. He impressed the audience with his profound knowledge about West Bengal. Ambani's absence, on the other hand, raised several eyebrows.
But, what was more suprising, was Mamata Banerjee’s praise for Adani. Till last year, she used to attack Prime Minister Narendra Modi, calling him “Chela of Ambani and Adani”.
The CM has, probably, understood that money has no colour and it is better to accept it in whichever form it comes, for the development of the state.
Adani has declared that, over the next decade, he would be investing Rs 10,000 crore in the state. He is all set to make a new port at Tajpur which was delayed for last two decades due to political reasons. Also, Adani might save Banerjee by investing in Deucha Pachami, the largest coal block in India and Asia and world’s second largest. The resettlement, which is yet to begin, will, however, be a big task for her.
As Adani said, he never “sits on the project and he is known for fast implementation”.
Several other industrialists mentioned West Bengal as their new choice, but they were present in the past seven summits but little came out of it.
What the state needs is its homegrown industrialists like Goenkas, Birlas, Neotias and Budhias who have consistently been the growth engine for not only the Mamata Banerjee government but for the Left government, too, during its tenure.
Another highlight was how the Global Business Conference Centre in Kolkata prepared itself for the event.
Said Sanjay Budhia, MD of the Patton International Group, “When we were having lunch, I asked them informally whether any one of them has a similar facility in either Mumbai, Delhi, Pune, Hyderabad, Chennai or Bengaluru. All of them said no. With such world-class facilities, West Bengal will attract international seminars, exhibitions, mega conferences not only from the east and northeast but also from neighbouring states, which will be a huge economic multiplier.”
However, the state's image has taken a beating because of corruption, manipulation and violence—political and otherwise—over the past decade. Mamata Banerjee will have to address these before hoping for fruitful investments.
