Foreign Direct Investment

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Foreign Direct Investment

  1. 1. The SEZ controversy started when the government of West Bengal decided that the Salim Group ofIndonesia[1][2][3] would set up a chemical hub under the SEZ policy at Nandigram, a rural area in thedistrict of Purba Medinipur. (see http://en.wikipedia.org/wiki/Nandigram_violence)http://en.wikipedia.org/wiki/Metro_Cash_and_CarryThe German retailer is among a slew of multi-brand foreign retailers, including Walmart Stores Inc.and Carrefour SA, which have entered the India’s retail market pegged at Rs 18 trillion annually. InIndia, 100 per cent FDI is allowed in wholesale cash-and-carry trade. Up to 51 per cent FDI is alsopermitted in single-brand retail trade. Such investment, however, is not allowed in multi-brandretailing.http://www.expressindia.com/latest-news/metro-cash-&-carrys-maiden-outlet-in-city-open-tomorrow/915194/Buddhadeb welcomes foreign investment in West Bengal ... videosfromindia.smashits.com/.../buddhadeb-welcome...15 Jan 2008 Kolkata, Jan 14 (ANI): Addressing a rally in Kolkata on January 13th, state chief Buddhadeb Bhattarjee said that ... ►► • More videos for foreign investment west bengal » 1. policies & approvals - West Bengal Industrial Development ...www.wbidc.com/about_wb/policies_approvals.htmThe key features of West Bengals present industrial policy are as follows: Appropriate foreigntechnology and investment are welcomed on mutually ... 1. State Level Investment : West Bengal - Business Portal of Indiabusiness.gov.in › ... › State Level InvestmentHence, West Bengal has emerged as a prime investment destination in India, with a large number offoreign investments at Howrah and Kolkata. Haldia is set to ... 1. More FDI, Comrade? West Bengal moveswww.southasiaanalysis.org/%5Cpapers16%5Cpaper1518.html“I must have a breakthrough with this”, said West Bengal Chief Minister ... Industries, in a bid to attracthundreds of millions of dollars in foreign direct investment. 1. West Bengals tryst with foreign investments floundering - Economy ...www.livemint.com/2007/10/.../West-Bengal8217s-tryst-with.html29 Oct 2007 – West Bengal?s tryst with foreign investments floundering, The state, which claims it hassigned many new investment deals, has a poor record ...
  2. 2. 1. Impact of FDI on West Bengal Economybusiness.mapsofindia.com › Fdi-india › States15 Mar 2011 – The state of West Bengal has become an important destination for investment in thewhole of India for large amounts of foreign direct ... 1. Mamata not in favour of foreign investment in aviation - Times Of Indiaarticles.timesofindia.indiatimes.com › Collections › Mamata Banerjee8 Dec 2011 – NEW DELHI: A huge question mark hangs on allowing foreign direct investment (FDI)by foreign airlines in Indian carriers. West Bengal chief ... 1. Buddhadeb welcomes foreign investment in West Bengal Video ...ishare.rediff.com/filevideo-...15 Jan 2008 – Buddhadeb welcomes foreign investment in West Bengal Video | Video clips | Featuredvideos : Rediff iShare. 1. The Hindu : News / National : West Bengal will not allow FDI in retail ...www.thehindu.com › News › National28 Nov 2011 – Criticising the Centres move to allow 51 per cent foreign direct investment (FDI) in theretail sector, West Bengal Chief Minister Mamata ... 1. West Bengal: From rhetoric to pragmatismwww.consumercourt.in/investment/21914-west-bengal-rhetoric-prag...14 Aug 2010 – West Bengal Chief Minister Buddhadeb Bhattacharya summed up his governmentsattitude towards foreign investments when he said: "We are ...West Bengal: From rhetoric to pragmatism Until recently West Bengal was known for industrial stagnation, militant trade unionism and an investor-unfriendly government. No longer. Marxist-ruled West Bengal has come a long way - from being derided by investors for shoddy work culture and crumbling infrastructure to a destination that offers vast potential to a wide spectrum of industrial sectors. Investments in West Bengal are clearly on the upswing, be it service industries like IT and outsourcing or manufacturing companies. If official figures are to be believed, industrial investments in the state have risen from a paltry Rs.4.50 billion in 1992-93 to an inflow of Rs.20 billion in the past three years. And as the curtain came down on the high-profile Partnership Summit 2005, organised by the Confederation of Indian Industry (CII) that brought together 1,500 delegates globally here, the state is relishing its moment in the business spotlight.
  3. 3. "Although we started late in wooing investments into the state, all our efforts are certainlygathering momentum now," West Bengals Minister of Industry and Commerce NirupamSen told."In the last few years, we have taken many measures to create industry-friendly policiesand robust infrastructure that has resulted in increased investments inflows, not only fromwithin India but also overseas.""There is a radical change in the mind of labour and they have become quite productive.The frequent labour unrest in the industrial sector is history now."Although Left parties create hurdles for the United Progressive Alliance government at thecentre on issues of foreign investment, their yearning for inflow of overseas funds into WestBengal is unmistakable."We have created an environment for the inflow of foreign technologies andinvestments where they are appropriate and mutually advantageous. We have neverbeen against foreign investments," said Sen.West Bengal Chief Minister Buddhadeb Bhattacharya summed up his governmentsattitude towards foreign investments when he said: "We are Marxists. We are notfools. If the whole world is changing how can we remain unchanged."In West Bengal, the Left is right. And this is the right place to invest."The state has identified petrochemicals, electronics and IT, iron and steel, textiles, leather,food processing, gems and jewellery, chemicals and pharmaceuticals as thrust areas.Indian as well as overseas investors, who got an altogether new view of the industrialscenario in West Bengal during their stay here for the Partnership Summit 2005, clearlyseemed impressed."In the last three years, there has been a steep change in the industrial outlook of the state,"said N. Srinivasan, director general of CII."We see much greater proactiveness on the part of the government to attract investments,partner with the industry and give a comfort level that is so much required," Srinivasan told."The state has gone past the rhetoric stage and we are seeing things happening on theground. The government now clearly recognises the fact that common man needs growthand prosperity and it can only come from increased investments."On the Marxists governments new found love with foreign investment, Srinivasan said:"Political rhetoric gets conveerted into pragmatism when you are on the hot seat."Whether you are a placard waving Communist or a money flaunting capitalist, when itcomes to increasing prosperity for the common man, you cannot ignore investments."
  4. 4. According to Sen, the rise of West Bengal as an industrial heartland can be attributed to itsvast talent pool, natural resources, political stability and social harmony.The minister said efforts were on to create new infrastructure as well as upgrade theexisting infrastructure facilities in the areas of roads and communication, education,healthcare system, housing and transport."Ours is an investor friendly government with total commitment for steady industrialgrowth," he said, adding the ruling Left in partnership with other parties had starteddeveloping industrial parks to boost investments.The minister said several mega investment projects were on the verge of completion and agood number of projects were in the pipeline.

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