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February 7, 2019

Bengal Means Business

The 5th edition (7-8 February) of the Bengal Global Business Summit begins today. Bangla has had four successful summits in the last four years with participation from over 35 countries across the globe and business delegates from across India. Partner countries for 2019 are Australia, United Kingdom, Czech Republic, France, Germany, Italy, Japan, Poland, Republic of Korea and UAE.

The two-day business spectacle is being held at the Biswa Bangla Convention Centre in Newtown. The plenary session will be addressed by Chief Minister Mamata Banerjee. The 2018 summit brought in investment proposals worth USD 145.93 billion reposing trust in Mamata Banerjee’s slogan ‘Bengal means business’.

Bangla has distinct advantages to become a potential trading hub for India and is a gateway to Southeast Asia, courtesy its proximity to Bangladesh, Nepal, Bhutan and Myanmar making it ideal for border trade. With the North-East serving road connectivity, Bangla can pave the way for India’s ambitious ‘Act East’ policy.

Bangla has the unique opportunity to serve as a ‘Silk Road’ to its neighbouring nations. Moreover, with cost-cutting opportunity in logistics, a competitive tool for buoyancy in trade, border trade could unleash bigger opportunities to expand investments.

Bangla has a unique advantage to become a strong foundation for global value chain (GVC) manufacturing operations in the eastern region and has the potential to provide a base for GVC manufacturing operations between India and ASEAN.

This year like the last, a huge Chinese delegation is expected to attend the summit. Bangla provides a favourable destination for Chinese investments and the expansion of trade relations since China has vowed to engage India as an important trade and investment partner

This year, the attendees may cross the 4,000-mark. Apart from China, the summit is expected to receive massive participation from countries like UK, Luxembourg and France among others.

Source: Millennium Post

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