West Bengal Secures ₹4.4 Lakh Crore Investment Proposals at 8th Bengal Global Business Summit

 Kolkata (West Bengal) [India], February 6: West Bengal Chief Minister Mamata Banerjee announced that the state has received investment proposals worth ₹4.4 lakh crore at the 8th Bengal Global Business Summit (BGBS) 2025. Addressing industry leaders and global delegates, she emphasized the state’s commitment to fostering economic growth and emerging as a key player in India's industrial landscape.

One of the major highlights of the summit was the announcement of an oil exploration project at Ashok Nagar in North 24 Parganas. CM Banerjee stated that the state government has provided 15 acres of land to ONGC, which has successfully discovered oil and gas deposits that will now be commercially exploited. “We are fully supporting ONGC and will also provide a petroleum mining lease. This will position Bengal on India’s petroleum map,” she remarked.

Massive Industry Response and Progress of Previous Investments

The Chief Minister expressed appreciation for business leaders and foreign delegates for their contributions to making the summit a success. Highlighting the achievements of past BGBS editions, she noted that the state had received investment proposals worth over ₹19 lakh crore in previous summits, out of which ₹13 lakh crore worth of projects have been completed, while ₹6 lakh crore worth of investments are currently in progress.

On the first day of the 8th BGBS, investment proposals amounting to ₹1 lakh crore were received, with significant interest from the steel industry, she added.

Emphasis on Unity, Economic Growth, and Inclusiveness

Banerjee underscored West Bengal’s efforts in reducing unemployment and dropout rates since 2011 while reiterating the state’s inclusive approach to development.

"We don’t divide people; we unite them. We respect individuals from all castes, religions, and communities. Bengal is the cultural capital of India, and this summit has demonstrated our ability to bring diverse industries together," she said.

The summit witnessed over 5,000 investors and delegates in attendance, with 212 MoUs and Letters of Intent (LoIs) signed across multiple sectors, further solidifying Bengal’s position as an attractive investment destination.

BGBS 2025: A Platform for Future Investments and Job Creation

Calling the summit one of the most significant business gatherings in Bengal’s history, CM Banerjee highlighted the overwhelming industry response. “Investment proposals worth ₹90.51 lakh crore have been received, demonstrating strong confidence in West Bengal’s economic potential,” she noted.

When asked about the purpose of hosting such summits, Banerjee emphasized their role in encouraging young entrepreneurs and generating employment opportunities.

"Some question why we organize this business summit. But now, every other state is doing it. Our goal is to encourage young generations to invest, expand industries, and create jobs. Bengal is one of the safest and smartest investment destinations in India," she affirmed.

Mukesh Ambani's Commitment to Bengal’s Growth

On the first day of the summit, CM Banerjee extended her gratitude to business leaders, including Reliance Industries Chairman Mukesh Ambani, for their support. She revealed that Ambani has assured Kolkata will serve as a key business hub for Jio and act as a global gateway for the company.

"I salute Mukesh Ambani and his family for this commitment. His vision will help transform Kolkata into a key business center, strengthening its connectivity with global markets," she stated.

The 8th Bengal Global Business Summit has reinforced West Bengal’s status as a thriving investment hub, setting the stage for economic expansion, industrial growth, and enhanced employment opportunities in the state.