Tag: Asia House

WB CM wins hearts of investors at Asia House, London

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The West Bengal Chief Minister invited the members of Asia House, London – the probable investors – to come and scout the State for exploring investment opportunities. She asserted that during the last four years, the infrastructure in the State has become business-friendly in comparison to the past years.

West Bengal Chief Minister Mamata Banerjee highlighted the economic advantages of West Bengal and investment opportunities in the state during a private briefing held at Asia House.

The topics discussed included infrastructure development in the state, incentives for foreign businesses to invest, the state’s relationship with the Centre, efforts to cut bureaucracy and tackle corruption, the state’s workforce and West Bengal’s historic ties with the UK.

“I am not from a business background, I am a street fighter. You know better, Bengal is ready for investment. Perception of Bengal has to change and is changing. That is why I am here in London to meet you,” the West Bengal Chief Minister said at the meet.

She received a standing ovation from the members of the Asia House who admitted that they were mesmerised by her speech and were glad to know about the investment opportunities in Bengal.

The Corporate members represented at the table included Anglo American, KPMG, Barclays, Nikkei, BP, PA Consulting, PwC and Standard Chartered. The private briefing was held in partnership with KPMG.

Prominent UK industrialist keen to set up sports car hub in Bengal

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Prominent UK investor Lord Swraj Paul-led Caparo Group may set up a compact sports car manufacturing unit in the state.

With West Bengal Chief Minister Ms Mamata Banerjee by his side, Lord Paul said on Wednesday that his company is looking forward to integrating its auto ancillary business. Currently the group is working on the design of a low-end sports car for the Indian and Asian market.

The Caparo group has business interests in the manufacturing and marketing of car bodies, steel sheets and other auto engineering products. “This project is currently at the R&D stage. We have entrusted British Formula One giant McLaren with its design. If all goes well, India would be the place where I plan to set up its manufacturing base,” Paul said.

When asked, if Bengal would be his preferred choice, Paul replied: “West Bengal would certainly have the first rights of refusal.”

Asia House, UK praises WB CM in a private briefing

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West Bengal Chief Minister Ms Mamata Banerjee will address the Asia House corporate members on July 29 at the organization’s head quarters at 63, New Cavendish Street.

On its website, the Asia House published a private briefing regarding the address by the West Bengal Chief Minister Ms Mamata Banerjee to be held on July 29.

Asia House is a Pan-Asian organization based in UK, which aims to build dynamic links between the diverse communities of Europe and Asia.

The Private Briefing by the Asia House, London, UK:

“West Bengal is the sixth largest economy in India. Strategically located, bordering Bangladesh, Bhutan and Nepal, with proximity to Myanmar, the state of West Bengal is a key gateway to Southeast Asian markets. It has abundant natural resources and a growing IT sector. However, it lags behind in infrastructure development.

Mamata Banerjee, the current and 8th Chief Minister of West Bengal, will brief Asia House corporate members on West Bengal’s economic prospects and the steps the government of West Bengal is taking to make the state a more attractive investment destination.

West Bengal has historically been a highly indebted state owing to poor tax collection and large amounts of state revenues being used to pay back interest on debt. Under the leadership of Mamata Banerjee, the state government is making efforts to encourage higher revenue mobilisation and enhance capital expenditure. The state is undergoing a major deregulation drive to make doing business in the state easier, faster and more transparent. Upgrading social infrastructure is running parallel to strengthening industrial infrastructure. Attractive incentive packages and regulations have also been introduced to attract investment.

Banerjee created history in the state with a sweeping victory in the 2011 Legislative Assembly Elections of West Bengal that uprooted the 34-year-long Left Front government led by the Communist Party of India. This marked the end of the longest ruling democratically elected Communist party in the world.

In May 2013 she was voted by the largest anti-corruption coalition of India, India Against Corruption, as the most honest politician in India. Time magazine in 2012 named her as one of the 100 Most Influential People in the World.

Mamata Banerjee is the current Chief Minister of West Bengal and the first woman to hold the office. She also holds the record of being the first woman Union Cabinet Railways Minister of the nation, serving the post twice. She is the chairperson of All India Trinamool Congress Party which she founded in 1997 after splitting from the Indian National Congress. She is a seasoned politician having also served as Union Cabinet Minister of Coal and Mines and as Union Minister of State for the Human Resource Development in the Department of Youth Affairs and Sports; and Department of Women and Child Development.

Mamata Banerjee is leading a delegation of top industry and business leaders with senior representatives from her government to London.”

WB CM to meet UK industry brass

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With chief minister Mamata Banerjee being invited to Asia House in London for a round-table meeting on July 29, top state officials are working overtime to prepare for the 90-minute power-packed event, which is likely to pave the way for investment propositions in Bengal.

Asia House in London, which recently hosted dignitaries, such as the president of Mongolia, secretary of ASEAN, foreign minister of Japan and finance minister of Thailand, has invited WB CM to discuss Bengal’s potential as a business destination. The Chief Minister, along with state Finance Minister Dr Amit Mitra, Chief Secretary Sanjay Mitra, MSME Secretary Rajiva Sinha and other bureaucrats, will talk about the “ease of running business“ in Bengal.

In a note for the meeting, Asia House has mentioned Bengal’s achievements on the industry front. “It has abundant natural resources and a growing IT sector… the state government is making efforts to encourage higher revenue mobilization and enhance capital expenditure. The state is undergoing a major deregulation drive to make doing business in the state easier, faster and more transparent,“ it stated.