February 6, 2025 7:48 PM.
The Bengal Global Business Summit (BGBS) attracted an investment proposal of over four lakh forty thousand crore rupees. West Bengal Chief Minister Mamata Banerjee stated this during her concluding speech at the summit in Kolkata today.
More than 1200 Memorandum of Understanding and Letter of Intent (LoIs) have been signed between the West Bengal government and various companies.
Ms. Banerjee said the state government has given 50 acres of land to the Oil and Natural Gas Corporation (ONGC) at Ashoknagar in North 24 Parganas district for oil and natural gas exploration. BGBS was inaugurated by the Chief Minister yesterday.
Addressing the concluding session of the summit, Banerjee revealed that a total of 212 memoranda of understanding (MoUs) and letters of intent were signed across various sectors, reflecting the state’s robust investment climate.
“We have received investment proposals worth ₹4, 40,595 crore during this event. This will create thousands of job opportunities in West Bengal,” she said, highlighting the significance of the summit.
Banerjee also credited her government’s development efforts since 2011 for uplifting 1.72 crore people above the poverty line.
“Our focus on infrastructure, industry, and social welfare has led to significant progress,” she added. In the last edition of BGBS in 2023, investment proposals valued at ₹3.76 lakh crore were received, demonstrating the steady growth of the state’s economy.
The chief minister further highlighted the success of the previous summits, stating that over the last seven BGBS editions, investments worth ₹19 lakh crore have been made, out of which work for ₹13 lakh crore has already been completed.
“This significant progress underscores the state’s commitment to delivering on investment promises and its growing appeal as a business hub,” she said.
A key highlight of this year’s summit was the investment commitment from Reliance Industries, with its Chairman Mukesh Ambani pledging to invest ₹50,000 crore in the state by the end of the decade.
“In less than a decade, our investments in Bengal have increased 20 times, and we have invested over ₹50,000 crore. We shall double this investment by the end of this decade, creating over one lakh direct jobs,” Ambani said at the event on Wednesday .Banerjee mentioned that 20 partner countries were involved in the summit, with representatives from an additional 20 countries attending.