West Bengal Govt. Lures Mumbai’s G&J Sector

Kolkata: The Mamata Banerjee government will start hunting for business in Mumbai on Tuesday in the run-up to the fourth Bengal Global Business Summit (BGBS), to be held in Kolkata on January 17-18 next year, reports The Times of India.

The roadshow for Bengal’s flagship business summit at India’s business capital will be led by Bengal finance minister Amit Mitra, who would meet four-five top industrialists there on Tuesday. State commerce and industries secretary Rajiva Sinha and WBIDC managing director Vandana Yadav would accompany Mitra.

According to Bengal government data, the last edition of BGBS saw Rs 2.35 lakh crore of investment proposals pouring in from various sectors like manufacturing, infrastructure, food processing, fisheries, IT, ITeS, MSME, hospitality and urban development. The biggest chunk — Rs 61,000 crore — came from manufacturing and infrastructure, followed by MSME at Rs 50,000 crore.

Mitra told TOI on Monday he will convene two meetings in Mumbai on Tuesday with a focus on labour-intensive sectors where Bengal has core competence. “We have identified gems and jewellery and textile for this year’s first roadshow in Mumbai. These are the two sectors where we have such competence,” he added.

The Bengal finance minister pointed out the state is getting major response from the gem and jewellery sector in Mumbai. The protest from Bengal was instrumental for bringing down Goods and Services Tax (GST) on gold and jewellery to the 3% level from the proposed 5%, added Mitra.

He had also headed the state finance ministers’ panel on GST.

On Tuesday, 19 leading gem and jewellery manufacturers would attend the roadshow. They include Gitanjali Gems, Rio Tinto, World Gold Council, and gem and jewellery promoter Ajay Mehra among others. Gitanjali Gems is one of the largest jewellery makers in India, while Rio Tinto is one of the leading diamond companies worldwide. “For gems and jewellery, we have a lot of things to offer. Most of the artisans are from Bengal and we have the space too,” said Mitra.

Explaining his plan for the textile event in Mumbai, Mitra said Future Group CEO Kishore Biyani would share his experience during the session which will be attended by four-five leading industrialists from the sector.

The Bengal industries department had earlier called a meeting of the leading industrialists of Bengal in order to begin preparatory work for the mega business event.