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December 27, 2019

Business target of Rs 1 lakh crore by 2023

Business target of Rs 1 lakh crore by 2023

State Finance Minister Dr Amit Mitra has asked the West Bengal Garment Manufacturers and Dealers Association to set a target of business worth Rs 1 lakh crore by 2023. He was speaking at the inauguration ceremony for the 50th Garment Buyers and Sellers Meet and the B2B Kids Garments Expo in New Town, organised by the West Bengal Garments Manufacturers & Dealers Association.

He informed that the State Government has taken up a project to set up seven textile parks. Some of them have already started functioning. Bangla’s textile sector has grown a lot since 2011. More than 20 lakh people are directly employed in this sector, while 30 lakh people are indirectly employed. There are 180 handloom clusters in the state, engaging approximately six lakh people.

Another sign of growth is that the amount of loan disbursed by banks to micro, small and medium enterprises (MSME) has gone up compared to financial year 2010-11.

Dr Mitra also informed that several foreign companies have already opened their offices in Bangla and are on course to invest money in the State.