Once the power centre of the British before independence as the capital of India, Kolkata (known then as Calcutta) was the trade hub where people flocked to, for better work prospects. The capital shifted to Delhi in 1911, but post independence too, Calcutta retained its British heritage and business boomed. The glory began waning during the Marxist government’s rule from 1977 to 2011 under then chief minister Jyoti Basu. Trade unionism led to factories shutting down and head offices of companies moved out of the state. Many who lost their jobs, left the state for better employment opportunities.
The Left Front attempted to adopt a more progressive and capitalist mindset in mid 2000s, welcoming global investors. Tata Motors to set up a Special Economic Zone (SEZ) in Nandigram and a factory in Singur. These, however, created history for the wrong reasons, with anti-land acquisition protests driving out industrial prospects and the famed conglomerate Tata Group. Trinamool Congress (TMC)’s government under Mamata Banerjee from 2011 to 2026, ironically, spelt further doom with an anti-industry tag, which the new BJP government wants to correct with its pro-industry approach and an extensive and industry-friendly budget tabled this week in the assembly by Finance Minister Dr Swapan Dasgupta.
What is pertinent, is the silver lining that industry leaders are seeing across West Bengal and the country. Industry leaders and chambers lauded moves to eradicate the syndicate raj manner of procuring building material or sanctioning plans for a cut money or bribe by middle men affiliated to the ruling party, that is the TMC. Left Front’s trade unionism was replaced by the TMC’s muscle power at the grassroot level which sent out negative signals to investors outside the state of a ‘non-conducive’ business environment.
Meanwhile, the brain drain continued and BJP’s mission now is to get back the brains who left the state, back to their homeland as they welcome industrialists to invest in the saffron party’s ‘Viksit Bangla’ dream. Competing with other states for investment is a challenge for West Bengal, which is considered backward on the national map.
Aspects like 24x7 offices, shops and restaurants, a 50,000 square feet industrial park in Siliguri, a semiconductor hub in Durgapur, a hub for cloud computing and Information Technology and West Bengal Impact AI mission are progressive steps. A start-up incubation fund, new incentives for MSMEs and single window system for clearance for new companies give a boost for new investors willing to consider West Bengal worth their investment.
The focus on transport and infrastructure in rural and urban clusters with multiple airports, metro services, and road connectivity, the sound of it all makes Bengal go into booming mode. The ₹4.38 lakh crore budget allocation is a relief for the youth and unemployed citizens of West Bengal, for whom being a graduate, an engineer, or having an MBA degree will not go unnoticed. For farmers and landowners wanting to turn their land into gold once again with industrial and agribusiness prospects, there is hope. For women who want to understand what empowerment is, converting their cooking skills into business opportunities with structured cloud kitchens and a 33 per cent job reservation when 1 lakh vacant government posts are filled, are steps toward bringing more women into the workforce.
The BJP may just have the Midas touch for West Bengal, which can turn ideas into gold. Maybe it is time for the land that was once the capital of the country to shine again and relive its past glory. ‘Sonar Bangla, Sobar Bangla’ (Golden Bengal, Everyone’s Bengal).
