Bengal Global Business Summit: Mamata Banerjee says industry pledges Rs 2.2 lakh cr investment, 20 lakh new jobs

Two days' global investors' summit held in West Bengal saw many big corporate houses pledging significant investments in the state. Prominent corporate houses including India's richest man Mukesh Amabni-led Reliance Industries and Gautam Adani-led Adani Group promised they will funnel money to aid the development of the state.

Here are the five key highlights of the summit:

Mukesh Ambani.

Mukesh Ambani.

Reliance Industries chairman Mukesh Ambani addressed the gathering on 16 January. Ambani said his group will invest Rs 5,000 crore  in the state to expand the group’s telecom and petro-retail business.

Pranav Adani, who is nephew of Adani Group chairman Gautam Adani said his group was eyeing to double its investment in the state. Adani's current investments in West Bengal stand at Rs 750 crore, which the group wants to double to Rs 1,500 crore in a period of five years.

On the concluding day, West Bengal chief minister Mamata Banerjee talked about the positive response received by the investors’ summit. According to an Indian Express report, the state has got Rs 2,19,000 crore worth of investment commitments from various groups.

Apart from the investments committed, the state saw as many as 110 memorandums of understanding being signed.

The state government expects the committed investments will translate into  more jobs. Banerjee, citing an estimate, said as many as 20 lakh new jobs will  be created if the committed investments turns into reality. About one lakh jobs are expected to be created by RIL alone, Banerjee said.

Updated Date: Jan 18, 2018 19:13 PM

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