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February 25, 2014

Top US companies express interest in investing in Bengal

Top US companies express interest in investing in Bengal

Top US investors have expressed their interest in investing in West Bengal keeping pace with the change in the state, Finance and Industry Minister Mr Amit Mitra said. That the confidence of investors in Bengal is returning, was exemplified by the fact that AMCHAM India chose Kolkata as the venue of its National Executive Council meeting, after a gap of 10 years.

After his one-and-half hour meeting with the 13-member AMCHAM India delegation led by its chairman Lowell Paddock, Mitra told reporters here that the US investors had shown keen interest in investing in a number of sectors in the state and future cooperation considering it as a hub in South East Asia and among ASEAN countries.

“We are happy that US companies are keen on investing in the state with a change in its environment and work culture, even as it took ten years to make this breakthrough,” the Industry Minister said. The areas of possible investment by the US investors in West Bengal included energy, manufacturing sector, aircraft repairing, IT, healthcare, agricultural marketing and tourism, he added.

The Minister said he had asked the members of the delegation, representing various multinational companies, to come up with specific proposals for the state government`s consideration. “With this change in attitude by the US investors, there will be an enormous investment in the state resulting in development, economic progress and employment opportunity,” he said.

Describing his meeting with the AMCHAM executive committee, Mr Mitra said the members of the delegation were considering various modes of investment in the state, including the PPP model.

Apart from Lowell Paddock, who is also the President and Managing Director of the General Motors, the delegation was represented by top executives from Quaker Chemicals India, IBM, Fi-Tek LLC, Boeing India, Cognizant Technology Solutions, DuPont India, Caterpillar India, KPMG, Lockheed Martin India, General Electricals, Boston Scientific India and Supply Chain Management Professionals India, Mitra added.