Bengal Global Business Summit 2016 begins today

The Bengal Global Business Summit 2016, West Bengal government’s annual investors’ summit will be inaugurated by West Bengal Chief Minister today at 11 AM at the Milan Mela Prangan in Kolkata.

Honourable Prime Minister of Bhutan, UK Labour Minister Priti Patel, Delhi Chief Minister Arvind Kejriwal, delegates from Japan, UK, US, Italy and 45 nations will be present on the occasion.

Japan is this year’s Partner Country.

Union Minister for Finance, Arun Jaitley, Union Minister of State for Coal, Power and Renewable Energy, Piyush Goyal, Union Minister for Road Transport and Highways and Shipping, Nitin Gadkari and Union Minister for Railways, Suresh Prabhu, are expected to be present on the occasion.

Mukesh Ambani of Reliance Industries is expected to join this year’s event.

N Chandrasekaran, CEO and MD of Tata Consultancy Services (TCS), Jyotsna Suri, chairperson of Bharat Hotels, Swati Piramal, vice-chairperson, Piramal Enterprises, Niranjan Hiranandani, co-founder, Hiranandani group, and Adi Godrej, chairman of Godrej Group are expected to be present as well.

According to the programme plan, there will be Plenary Sessions, addressed by national and international entrepreneurs of stature, who will share their thoughts and experiences, There shall be Sectoral Breakaway Sessions, with participation from leading industrialists of each sector

Also the summit will witness Business-to-business (B2B) and government-to-business (G2B) interactions along with opportunities for expositions and exhibitions.

Last year, Bengal Global Business Summit got West Bengal government proposals worth Rs 2.4 lakh crore.

By 2021, Bengal may just be a little crowded in terms of actual investment: Amit Mitra

24 hours away from the Bengal Global Business Summit, Dr Amit Mitra, West Bengal  Minister of Finance & Industry, in an interview, informs that the critical mass of investment is already here, and it’s just the buzz that now has to travel the world over.

 

Excerpts of the interview:

 

The general perception is that West Bengal is going downhill with a virtual debt trap looming over it. On the other hand, you have the summit coming up in the next 24 hours which says ­ Come to Bengal, Ride the Growth. How do you plan to make investors believe that a turnaround is possible?

Despite all the talks of Mamata Banerjee spending irrationally, we have managed to bring down fiscal deficit to 3.13% in 2014-15 from 3.20% in 201112. The actual revenue deficit is 1.96% in 2014-15, fell from 2.63% in 2011-12.The state’s own tax revenue doubled in three years to Rs 40,000 crore in 2013-14. We have managed sixth time capital expenditure growth. If you create physical assets using the debt we raise, you get the Keynesian multiplier effect to its fullest, making an impact on the gross state domestic product.

Rs 87,000 crore that we have out of the borrowed. Rs 82,000 crore has been spent on servicing the existing debt. We have paid Rs 28,000 crore towards principal repayment and interest payment. Despite this precarious situation, we have succeeded in bringing down the debt-GSDP ratio to 31.72% in 2014-15 from 37.5% in 2011-12. This means, quality of borrowing ­ what are the debts used for ­ has improved over the last four years. These are parts of the fiscal discipline. I am not saying that there are no glitches.

There are shortcomings but we are working on it.

We have also focused on the issues of social infrastructure. Healthcare has been a major stressed area for Bengal but on-ground improvement of this can address the existing systemic lacuna.The number of schools, colleges, universities have increased manifold too during our time.

We have also put emphasis on training.

A lot more has to be done. Samsung, Raymond have put up centres here with 100% placement from Bengal. Raymond has set up its eighth centre recently. Microsoft is setting up a centre of excellence. This will be inaugurated soon. This has nothing to do with Microsoft business. So, my point is why companies like Samsung, Raymond, Microsoft are coming? Why is TCS expanding by roping in 20,000 more people. These are not small numbers. Because, the attrition rate in Kolkata is just about 3%, compared with 35-40% in Bangalore. Bengal youth are good enough to take a job of that quality.

 

What will be Bengal’s pitch for the show?

Bengal’s pitch is what the chief minister said in recent times, based on data: Come to Bengal, ride the growth. We are not only talking about growth in GDP or growth in statistical data, but we are focusing on growth in every direction. For example, we are running a reality show on start-ups and we have received 1,500 applications with fresh ideas which they think are bankable. “Entrepreneurship is dead in Bengal“ was a general refrain. These young boys and girls are nothing but entrepreneurs…they are taking the risk. There was study in the US, Kauffman study, which showed that the largest number of jobs were added by companies which were formed in the last three years.

 

Apart from the generic theme, could we be more specific on the theme part?

One of themes is start-ups. Then there will be focus on design, e-commerce, intelligent cities and renewal energy. Besides these themes, we are expecting businessmen to speak their mind out on their experience in Bengal. Reputation spreads only through word-of-mouth at that level. This summit, if X or Y says something good about his experience in Bengal, it immediately sends a message to a whole lot of others on doing business in Bengal.

 

How do you plan to address the apprehension of the business community about the contentious land issue?

Land is not an issue at all. I had earlier said that we have 4,500 acre available with us. Today, it may be even more than that available at industrial parks. Three more parks are coming up. I have perhaps a lakh of acres of unused land available with various departments. Land is not an issue now.

 

Do you expect any material gain in terms of investment from this summit?

Investment is just a number. The issue is are you creating the ecosystem, adding to your existing ecosystem for investment? And are you creating a buzz? The CEOs of the world do not look at numbers and decide for investment. They invest on the basis of an intuitive sense of comfort.

 

Where do you see Bengal five years down the line, assuming that your par ty will continue in government after the critical 2016 state elections?

The critical mass of investment is here now. If you do not come now, it would be more competitive later. I am not saying this. An investor was telling me that they would like to invest in Bengal now because two years from now, it will be much more crowded. It’s better to start business now and get going. This space will face much bigger competition and so, come now.

The bigger thing I see is that the change in Bengal is going to rejuvenate the entire eastern India. No other state can do it. No other state has a metropolis. No other state has three countries along its border. No other state has the entire northeast for its market and a seaboard. Plus, no other state has the human capital. So for eastern India to emerge in competition with western and southern India, Bengal has to play a very special role on a complementary basis with its neighbours. In five years’ time, we should be able to come up and say that eastern India has been pulled up by its bootstraps by West Bengal. I have a feeling in the next five years, eastern part of India would emerge out of its stupor, led by West Bengal’s economic prowess, which I can already see today but this has to be deepened.

 

What would be your expectation from the summit?

The biggest takeaway from the Bengal Global Business Summit would be what the entrepreneurs say on the platform about their experience in Bengal. And the general feeling I am getting is, at least a significant number of them have had a wonderful experience. The buzz has grown. There are two sets of people ­ one who have already invested in Bengal and the other who are aware of the buzz. Mamata Banerjee has done something in the last five years and now it’s time to take off.

 

The interview was first published on The Economic Times (Kolkata), dated January 07 2016

Bengal Global Business Summit: WB CM meets Bhutan PM in Kolkata

Bhutan Prime Minister Tshering Tobgay on Wednesday arrived in Kolkata for a four-day visit to West Bengal, and met Chief Minister Mamata Banerjee during the day.

Tobgay will be attending the two-day Bengal Global Business Summit beginning on Friday.

On Wednesday, Tobgay visited the Bhutanese consulate and interacted with the consul general. In the evening, Mamata Banerjee accompanied by government officials paid him a visit.

During her visit to Bhutan in October, Banerjee had invited Tobgay for the business summit.

Bengal is the destination for industries today: WB CM at Salboni

West Bengal Chief Minister Mamata Banerjee today inaugurated a cement plant at Salboni belonging to the Jindal Steel Works Group’s.

JSW’s cement plant marks the revival of the biggest investment proposal in Bengal since Independence -Rs 35,000 crore for an integrated steel, power and cement plant -would attract over Rs 800 crore.

The company plans to set up a 2.4 MT cement grinding unit followed by a 300 MW captive power plant at Salboni, involving a total investment of Rs 2,700 crore.

Speaking on the occasion, the Chief Minister thanked the Jindals for their initiative. “Development cannot take place by force, it needs to be done with love,” she said.

“We will set up a 300 bedded multi super hospital in Salboni in addition to an ITI & polytechnic college. This area will shine in days to come,” she added.

She said that Jindals wanted to expand their industries in Salboni but iron-ore was a problem. “There should be a national iron ore policy, it will bring about parity and ease the business process,” the CM said.

Reiterating that Jangalmahal is smiling, the Chief Minister added that Bengal is surging ahead in every sphere:

  • Gross Value Added (GVA) of India is 7.5% and that of Bengal is 10.5%
  • The increase in Per Capita Income in 2014-15 in West Bengal is 12.84% while that of India is 6.1%
  • The increase in Industry in 2014-15 in West Bengal stands at 8.34% while that of India is 5.6%
  • The growth in Agriculture, Forestry and Fishery in 2014-15 has been 6.49% while that of India is 1.1%

 

She also highlighted the social sector intiatives of the state:

  • 7.7 crore people have been brought under the Food Security Scheme. Rice & wheat is being given at Rs 2 per kg
  • There are 31 lakh Kanyashrees & around 40 lakh cycles being given under Sabuj Sathi
  • 58,000 artists will get a pension of Rs 1000 as well as opportunities in government programmes

 

She concluded her speech with the hope that lives of the local people will transform in the days to come.

Schedule of the Bengal Global Business Summit 2016

To rejuvenate the industrial scenario, the Government of West Bengal has taken lots of initiatives. The latest in the series of endeavours is the Bengal Global Business Summit 2016. This mega summit will take place from January 7 to January 9.

The Summit will include the following:

  • Plenary Sessions, addressed by national and international entrepreneurs of stature, who will share their thoughts and experiences
  • Sectoral Breakaway Sessions, with participation from leading industrialists of each sector
  • Business-to-business (B2B) and government-to-business (G2B) interactions
  • Opportunities for expositions and exhibitions.

The Chief Minister of West Bengal, Ms Mamata Banerjee, will take an active part in the summit – listen to the entrepreneurs, peruse over the sectoral recommendations and share her thoughts.

The evenings will showcase West Bengal’s great heritage in art and culture.

The summit would be the best platform to understand the potential of West Bengal in various sectors and it will also create opportunities to interact with policy-makers, industry leaders and top-level Government officials.

The schedule of the Summit is as follows:

Jan 8

 

 

Jan 9

 

 

Trinamool Congress has brought a wave of development in Bengal

Trinamool Congress has been instrumental in changing the perception of Bengal and has brought a wave of development under the able leadership of the party Chairperson and West Bengal Chief Minister Mamata Banerjee.

Trinamool Congress has been the face of numerous movements ranging from Singur and Nandigram to fight against intolerance and has been fighting for the cause of strengthening the federal structure of the country.

Since 2011, after Mamata Banerjee became the first woman Chief Minister of West Bengal, Trinamool Congress has been instrumental working on the erstwhile non-existent infrastructure in industry, health, food and supplies systems and above all brought peace in Jangalmahal and the Hills.

In Parliament, where Trinamool is now a force to reckon with, having 34 MPs in Lok Sabha and 11 MPs in Rajya Sabha, has been raising core issues and has acted as a constructive opposition.

Here is a short summary of what the West Bengal Government under Trinamool Congress could achieve in the last 4 and half years:

Numbers show where Bengal stands as compared to India –

The Gross Value-Added (GVA) growth of West Bengal stands at 10.48% whille that of India is 7.5%.
The increase in Per Capita Income in 2014-15 in West Bengal is 12.84% while that of India is 6.1%.
The increase in Industry in 2014-15 in West Bengal stands at 8.34% while that of India is 5.6%.
The increase in Agriculture, Forestry and Fishery in 2014-15 has been 6.49% while that of India is 1.1%.

 

Development in Health sector

Since 22nd October 2014 user-charges for all sorts of investigations, medicine & beds have been waived for all secondary hospitals leading to a giant leap in materializing the goal for health for all.

To increase bed strength, the Government is setting up 41 new Multi- Speciality & Super-Speciality Hospitals. From just 6 Sick New Born Care Units (SNCU) in May 2011, the State now has 48 functioning SNCUs which are playing a major role in reducing infant mortality & morbidity. There was not a single Sick Neonatal Stabilization Unit (SNSU) in May, 2011.

Through Private Public Partnership (PPP) 95(ninety-five) Fair Price Medicine Shops (FPMS) have been opened with a turnover of Rs.544 crores leading to a saving of Rs.344.00 crores to the patients through supply of medicine & equipment by way of discounts covering 1.23 crore prescriptions. This scheme has been declared a Model Scheme by the Government of India.

In addition, 36 (thirty six) Fair Price Diagnostic Centres at Govt. approved rates, much below the market price (e.g. Digital X-Ray @Rs.100, CT Scan @Rs.500, Dialysis @ Rs.500, etc.), have been made operational, benefiting 40,000 patients & of which 9,000 patients have been given 100% free service

Free medicine and free bed-charges scheme – which existed in the zilla and district hospitals – is now extended to medical colleges.

Sisusathi Prokalpo, a free of cost surgery for children affected by congenital heart diseases has been introduced in three private hospitals, including SSKM, under Sisusathi Prokalpo. A human milk bank named Madhur Sneha has been opened at SSKM Hospital. This is a first for eastern India. A cord blood bank has been established in Kolkata, the first of its kind in the eastern region.

 

Development in Law and Order

As per published data by the National Crimes Records Bureau, Kolkata is a safe city for women, well behind in recorded crimes compared to the cities of Delhi, Mumbai, Bengaluru and Ahmedabad. Kolkata was awarded the “best city” tag when it came to crime-rate and safety at the second edition of the India Today Best City Awards 2014, based on a study of 30 capital and metro cities and 20 emerging cities in India.

Fourteen (14) coastal police stations and five (5) cyber-crime police stations have been set up in the State. In the first phase 30 women police stations were set up, 10 more are being set up and the total target is 65.

Child-friendly Police Stations being set up and nine police stations in Kolkata and 29 police stations across the State have been shortlisted initially.

The Janglemahal area where Left-Wing extremism held sway until the new Government entered office, continued to remain peaceful with the local population being engaged by manifold initiatives of the Government in various economic, social, cultural and sporting activities.

 

Development in Land & Land Reforms

The Government has been consistently ensuring that the landless are provided land titles, which include forest pattas, Nija Griha Nija Bhumi (NGNB) and LR pattas. More than 2 lakh 30 thousand pattas have been distributed under Nija Griha Nija Bhumi (NGNB), a unique scheme which the Government has introduced to provide houses to the houseless people.

The state government has created an unparalled precedence by distributing pattas to more than 1,92,000 thousand landless families. In this regard it is worth mentioning that while 5670 and 37,723pattas were distributed during 2009-10 and 2010-11, respectively, during the tenure of the present government, a record number of 1,06,264 landless families were distributed pattas.

In the last two years of the Left rule, the land revenues collected was Rs 520.62 crores. In 2009-10, the collection was Rs 244.08 crores and in 2010-2011, it was Rs 276.54 crores. In two years under the Trinamool Government, land revenues collected is Rs 1036.45 crores. In 2012-13, the revenues collected are Rs 483.71 crores and in 2013-14 it was Rs 552.74 crores. On an average, in the last two years in comparison to to Rs 260.31 crores collected by the Left Government, the Trinamool Government has collected Rs 518.23 crores.

In the financial year 2014-15, till December 2014, the Trinamool Government has already collected Rs 429 crores as revenue in nine months, which s expected to be around Rs 600 crores at the end of the financial year in March.

 

Development for Minority communities

Budget allocation of the Minority Affairs and Madrasah Education Department has increased from Rs.472 Crore in 2010-11 to Rs.1737 Crore in 2014-15, an increase by almost 4 times.

Urdu, Nepali, Hindi, Oriya, Santali and Gurumukhi have been made official languages in places where more than 10% of people belonging to the respective communities reside.

With an increased emphasis on education as the means of development, fifty seven (57) lakh students from minority communities have benefited from different scholarship schemes. Construction of 279 hostels has been taken up for providing better educational environment for the first generation learners.

The Government is committed to address the need for social, educational and economic development of the Scheduled Castes (SC), and Other Backward Classes (OBCs). 17% reservation in higher education for OBC has been introduced without affecting seats for General candidates, to be implemented over a 6-year period. Already 10.6% reservation for OBC has been achieved in 2014-15, the very first year.

The Government has introduced a new scholarship scheme “SIKSHASHREE” for both ST and SC students of Class V to VIII.

In the calendar year 2014, more than eighty thousand caste certificates were issued to STs and one lakh twenty thousand students were provided scholarships which are considerably higher than the previous period. The Government has increased coverage under Tribal pension scheme and nearly 1,32,000 ST beneficiaries are now provided old age pension.

The Government has constituted Mayel Lyang Lepcha Development Board and Tamang Cultural and Development Board for addressing special needs of both the communities living in the State. A Cultural Board for Sherpas has also been announced. The Government has taken up housing schemes for the poor Lepcha and Tamang beneficiaries in 2014.

 

Development in Micro Small and Medium Enterprises sector

While the country performed abysmally with a 0.7% growth rate in the industrial sector, constant focus on the MSME sector has been a major factor in West Bengal’s achievement of a 9.58% industrial growth rate in the financial year 2013-14.

West Bengal has the second largest number of MSME enterprises. It has 36.64 lakh enterprises which constitute about 10% of total Indian MSME enterprises. With an output of Rs 78,880 lakh crore it represents an important sector of West Bengal’s economy. Since 2011, more than 30,000 new industries have been set-up, with an investment of more than Rs 2,595 crore, This has resulted in employment generation to the tune of more than 2,02,245 jobs.

Policy for medium, micro and small-scale, and textile, industries, 2013-18 has been announced.

To promote innovative and high potential MSME enterprises, the Government has introduced MSME Venture Capital Fund with a corpus fund of Rs. 200 crore. New industrial estates and parks are being set up along with common facility centres for MSME and Textile industry in the state.

The Government has set up Biswa Bangla Marketing Corporation (BBMC) as an umbrella organization of Biswa Bangla showrooms and Biswa Bangla Haat to carry on the business of marketing for various traditional and heritage products of the State with special emphasis on development of market for traditional artisans/weavers.

Over 800 Information Technology companies are operating in the State. The Government had taken up a project of constructing of 15 (Fifteen) Information Technology Parks across the State It is expected that IT Parks at Durgapur (Phase-II), Asansol, Barjora, Purulia, Bolpur, Kharagpur, Rajarhat and Siliguri (Phase-II) will start operation within 2015-16 itself. Classes with the first batch have already started in the Indian Institute of Information Technology (IIIT) at Kalyani.

Bengal is No.1 in All India Skill Competition. The Government intends to skill 5(five) Lakh individuals in calendar year 2015 under various schemes. The “West Bengal Handloom Circuit Development Scheme – 2014” which will provided upgraded skilling to 97,000 handloom weavers and ancillary workers over the next three years has been launched.

The Social Security Net provided by The Government through the State-Assisted Provident Fund Scheme for the Unorganized Workers including construction workers, taxi/auto drivers has achieved a milestone with the enrolment of over 50 lakh workers with an expenditure of Rs. 187.50 crores in 2014-15 year.

Samajik Mukti Card, a smart card, has been distributed to 10 lakh unorganised workers this year. A system of on-line registration of factories has started from April 2014 and submission of factory licence fee through the GRIPS Portal has also been introduced. The Government has also started construction of regional offices of the Labour Department at Siliguri and Asansol.

In MSME, Bengal has the highest credit off take during April-September 2013 with a flow of Rs 8,900 crore in this sector. “This is more than 105% increase on year-to-year basis.

 

Development for Women and Children

August 14 has been celebrated as Kanyashree Dibas. The scheme aims to promote higher education and secure the future of our girl child and transform them to responsible women of tomorrow. So far 31 lakh girls have been registered under the scheme. Earlier girls enrolled in Class VIII – XII in schools used to receive an annual scholarship of Rs 500. The scholarship amount was increased to Rs 750 from FY 2015-16. One-time grant of Rs 25000 is provided to each of the unmarried girl student on attaining 18 years of age. UNICEF has partnered West Bengal Government after scanning the feasibility of the scheme. Department for International Development, United Kingdom and UNICEF selected the scheme for presentation at the ‘Girl Summit 2014′ held at London. West Bengal government won the Silver Medal for the “Kanyasshree Prakalpo” in the Category of “Outstanding Service in Citizen-Centric Service.” More than 31 lakh girls have registered to Kanyashree which gives them allowance to carry on their studies and side by side stops early marriages of girls and lowers the chances of human trafficking.

Besides Kanyashrre, the Anganwadi projects have shown tremendous growth with 35,926 centres set up till January 2015. The West Bengal CM has started a monthly allowance for the Anganwadi workers. 13 lakh women are now enlisted with the Sabala project.

In the last year of the past Left Government, in 2010-11, the panned expenditure in Women,Child Development and Social Welfare Department was Rs 715.30 crores, while in 2014- 15 the revised budget allocation moved by Trinamool was Rs 3170.07 crores, the amount increased by 4.43 times.

In the 2014-15 Budget (revised), the allotment for Child Development alone was Rs 2520.04 crores.

Uttar Dinajpur has been taken up as a model district for workshops regarding campaigning against trafficking of women and children.

A 3-year working plan has been compiled for building Centre of Anganwadi. 13,389 such new centres are being set up. Arrangements have been made for the women and children in Anganwadi Centres to receive nutritious food such as egg, soyabean, seasonal vegetables, rice and dal instead of Khichdi.

 

 

WB CM mulls eco-tourism, fisheries village at Nayachar

The West Bengal government was considering several projects, including a fisheries village, eco-tourism hub and a solar plant for Nayachar, an island on the Hooghly river in East Midnapore district, Chief Minister Mamata Banerjee said on Monday.

On Monday, Mamata Banerjee went around Nayachar with a group of industrialists trying to figure out the island’s suitability for eco-tourism or other similar projects.

Later, addressing a rally at Nandigram in East Midnapore, the Chief Minister said her government was planning to promote an eco-tourism project on the island.

“We will see what can be done at Nayachar. We are working on several ideas like a fisheries village, an eco-tourism project and a solar plant. We will discuss and take a decision,” she said.

Banerjee, however, firmly ruled out construction of a chemical hub. “We won’t allow any chemical hub there.”

WB CM plans to boost eco-tourism at Nayachar

In her three-day visit to East Midnapore, starting today, West Bengal Chief Minister Ms Mamata Banerjee visited Nayachar. The West Bengal Chief Minister traveled to Nayachar taking the water route.

The West Bengal Chief Minister was accompanied by a team of industrialists. The Chief Minister and the team of the industrialists scouted the place as a possible eco-tourism destination. From Nayachar the Chief Minister headed for Tekhali in Nandigram.

She later held an administrative review meeting at Nandigram.

On Tuesday, WB CM will attend an administrative meeting in Digha and will launch the helicopter service from there to Kolkata on Wednesday. After the launch, she will return to Kolkata in a helicopter.

Flight to Delhi starts from Andal, WB CM among the first passengers

West Bengal Chief Minister Ms Mamata Banerjee today left for for Delhi by taking the first ever flight from Andal to the national capital.

The Chief Minister reached Durgapur today at around 2 PM and held a meeting with the business delegation from the Asansol-Durgapur region and representatives of the Chamber of Commerce.

“My best wishes to everyone. Flights for Delhi will commence from Andal today. This move will help people in south Bengal as well as neighbouring areas in Jharkhand. Travelling to Delhi will be hassle-free now,” she said.

The Chief Minister is expected to meet the Prime Minister on Tuesday and will reiterate the demands of the State before him. The State has still been denied of its previously allotted funds as well as the promised aid for the flood situation, from the Centre.

The Andal Airport is one of the greatest achievements of the Trinamool Government as it connects the industrial zone with the rest of the country.

The West Bengal Chief Minister is expected to visit the Trinamool Congress Parliamentary Party Office and may pay a visit to the Parliament Central Hall as well.

Industrial clusters in north Bengal to generate 55000 jobs

State finance minister Dr Amit Mitra on Monday announced that the state government in principle has agreed to facilitate setting up of three industrial clusters in Jalpaiguri district.

The clusters of small and medium industries would generate 55,000 jobs and would see private investment of Rs 1,490 crore.

Present as chief guest during North Bengal business summit organised by Confederation of Indian Industry (CII) in association with the Government of West Bengal and West Bengal Industrial Development Corporation, Dr Mitra said the new industrial policy of the state government has brought tremendous change in the industrial picture of North Bengal.

He announced that three industrial clusters having 322 industrial units would come up in Jalpaiguri district.

The first proposed industrial cluster near Fulbari will be spread over an area of 32.7 acres with an investment of Rs 175 crore. The 38 units there would generate 5,500 jobs.

The second, known as Shilpangan, and spread over 107 acres, will see an investment of Rs 630 crore. The 139 industrial units there will generate 23,000 jobs.

The third, Shilpabrata, spread over 105.80 acres will have an investment of Rs 685 crore and the145 units will generate 26,000 jobs, said Dr Mitra.

Dr Mitra also announced that infrastructure developments at Gajoldoba project spread over 210 acres are complete and investors are bidding for land to set up their projects.

Situated near the Teesta Barrage, Gajoldoba, rechristened as Bhorer Aalo, has been the dream tourism project of chief minister Mamata Banerjee.