Kolkata, Nov 5 (PTI) West Bengal Chief Minister Suvendu Adhikari on Thursday ruled out both the Left Front's policy of forcible land acquisition and the TMC's approach of letting industries buy land without government support, promising instead to create land banks for investors, as he unveiled the state's new Investment Promotion Policy.
Adhikari said the state was well-positioned to facilitate fresh investments of around Rs 1 lakh crore in the coming months, citing land availability and several projects in the pipeline, though he acknowledged that the government was currently unable to clear an accumulated incentive backlog of nearly Rs 50,000 crore.
He said the government was committed to ensuring that investors received the necessary support to set up industries in the state.
"We will neither have a forcible land acquisition policy like the Left Front nor will we have a flawed land policy like the TMC, asking industries to buy their own land without any support from the government," Adhikari said.
"We are making arrangements to buy land for creating a land bank for industries," he said, asserting that his government was committed to industrialisation and creating an industry-friendly atmosphere in the state.
He said the government was working to make land available to investors through existing industrial parks, recovered plots and a proposed land bank, while also exploring funding arrangements for land purchase.
The chief minister accused the CPI(M) of destroying West Bengal's industrial base through aggressive trade union politics, while alleging that the TMC's "flawed" land policy had contributed to the failure of its industrialisation efforts over the last 15 years.
Adhikari said his government was "very positive" about industrialisation and would extend the necessary support to investors.
"We have a zero-tolerance policy towards any form of extortion from industry. Strict action will be taken against anyone found involved in such activities," he said.
"Our government follows the policy of 'Na khaunga, na khane dunga' (Will neither take bribes nor let others take them)," Adhikari said, asserting that corruption and extortion would not be tolerated.
The chief minister also alleged that nearly Rs 20,000 crore of the state's revenue had been siphoned off by "anti-nationals and mafia" during the previous TMC regime.
The new Investment Promotion Policy seeks to attract fresh investments, accelerate industrialisation and generate employment by offering incentives to industries, with a particular focus on job creation and investment in less-industrialised areas.
The policy provides for higher assistance to units in thrust sectors and priority areas, while promising fixed timelines for approvals and payments.
The chief minister said the government had already handed over land to 33 business groups and was in a position to meet the current demand for industrial plots.
"We are currently in a position to facilitate investments of around Rs 1 lakh crore over the next few months," he said, citing proposals and ongoing projects across the state.
The chief minister said the government had offered two plots of 15 acres each to Amul for ice-cream manufacturing units, while the Vedanta Group had selected a plot belonging to the Kolkata Metropolitan Development Authority.
Land had also been arranged for Campa Cola and Reliance projects at Haringhata, and for Matrix's expansion at Panagarh, he said.
Adhikari said the government had facilitated land arrangements for proposals involving the Sanjiv Goenka Group in Haldia and had recovered plots belonging to several closed industrial units in the Barrackpore industrial belt.
The government was studying land policies adopted by Uttar Pradesh, Maharashtra, Gujarat and Andhra Pradesh, including land purchase, pooling and development, to evolve a framework that would avoid the contentious practices of the past, the CM said.
"We cannot go back to the days when farmers were fired upon for land acquisition. At the same time, the government cannot simply tell an investor to buy land on their own and refuse to extend any assistance," he said.
The state was in talks with HUDCO, NABARD, the Asian Development Bank and other major financial institutions to mobilise funds for purchasing land and creating a land bank, he added.
Adhikari said the government had asked companies holding land allotted by the previous administration but not using it to initiate project-related processes within three months or return the plots against a refund of the original purchase price.
On the ongoing projects, he said work was progressing on Lux Cozi's Rs 600-crore unit and Amul's Rs 700-crore project, while steel expansion work in Medinipur and an Amit Metaliks unit at Raghunathpur were also underway.
He said JSW Group chief Sajjan Jindal proposed a groundbreaking ceremony for the second phase of his power plant at Salboni in January, while the Reshmi Group was planning similar ceremonies for a second plant at Kharagpur and two projects in Purulia.
On the outstanding industrial incentives, Adhikari said the accumulated backlog was around Rs 50,000 crore and beyond the state's present financial capacity.
He said the new government had taken responsibility for incentive commitments falling due after May 9, 2026, but could not immediately shoulder the accumulated liabilities.
"The previous government cheated industrialists and investors. Had it paid Rs 7,000-8,000 crore in incentives every year, such a backlog would not have accumulated," the CM said.
Adhikari, however, said the government recognised the outstanding commitments as a legacy issue and would address them when West Bengal became financially stronger and a surplus state like Gujarat, Maharashtra and Tamil Nadu.
(This story has not been edited by THE WEEK and is auto-generated from PTI)