WBIDC seeks investment from Karnataka

By Our Special Correspondent

BANGALORE, FEB. 16. The unimaginable happened here on Friday with one of the senior most Marxist leaders, Mr. Somnath Chatterjee MP, making a pitch for more private investment, in his capacity as Chairman of the West Bengal Industrial Development Corporation (WBIDC).

"West Bengal wants partnerships with investors from Karnataka to give a big thrust jointly to Information Technology in the entire country," he declared addressinjg the Confederation of Indian Industry (CII), Karnataka Chapter. Admitting that West Bengal had gone through a period of stagnation, Mr. Chatterjee blamed it on "the concentration of power in the Centre and the unhelpful attitude of successive Union governments towards our State."

Since 1994, when the West Bengal Government announced its new industrial policy, there had been a positive turnaround in the industrial scenario. The State Government was committed to developing a new era of co-operation between business, labour and itself for mututal, benefit, and key role was provided to the private sector for industrial growth, he said.

Of the many attractions of his State for investors, Mr. Chatterjee focussed on its vast natural resources, skilled manpower, stable political situation and its being a gateway to the North East. International business consultants such as Pricewaterhouse Coopers had reported that West Bengal was going through an industrial renaissance, and the Government had a pro- investor role. The State had the fourth largest market in India, a strong middle-class and a stable economy.

Quoting data to support this, the Marxist MP and former union minister, said West Bengal's GDP grew at a rate of 6.6 per cent compared to the national average of 5.6 per cent. Between 1991- 2000, over 2,400 new industries had been approved with a total investment of Rs 7,000 crores. There was investment potential in petro-chemicals (downstream of the Haldia complex), agro-foods, tourism, IT and infrastructre. As for the bogey of industrial relations, he wanted business to forget the past. In any case, the IT industry could employ skilled manpower from anywhere. The techno park at Salt Lake was being expanded, the telecom infrastructure was growing and the highways were being upgraded in collaboration with ICICI, he explained. A traffic corridor was being developed from Haldia to Siliguri.

Mr. Jawahar Sircar, Secretary, Commerce and Industries, West Bengal Government, said it was time to change old impressions about the State. The Salt Lake complex alone now had 200 IT companies employing 13,000 persons, and more IT-related businesses were comping up. Higher education was being privatised, 17 new private engineering colleges had come up in the last year-and-a-half and the IIIT-Calcutta had become a reality, he said.

Mr. Sumit Mazumdar, Chairman, CII- Eastern Region, said West Bengal had very little industrial unrest now and more investment was coming into the State.

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