West Bengal, a growing economic hub, showcases its industrial strengths and strategic initiatives ahead of the 8th Bengal Global Business Summit to foster global business ties.
West Bengal has been rapidly transforming itself into an economic powerhouse. With a combination of strategic geographical advantages, proactive government policies, skilled human resources, and a vibrant business environment, West Bengal has emerged as a key player in India's economic growth story.
West Bengal has been consistently among the fastest growing States in terms of economic growth with a GSDP expected to reach Rs 18.79 lakh crores in 2024-25 (B.E). The State is a hub for a wide range of industries, including manufacturing, IT, cement, leather, iron & steel, textiles etc. As the largest economy in Eastern India, West Bengal ranks as the 4th largest state in India in terms of Net Value Added.
The state is home to largest Leather Complex, largest Hosiery Park and largest Foundry Park and Largest Railway Manufacturing Companies in the country are producing wagons, metro coaches & passenger coaches. The state also offers ready-to-Invest Industrial Infrastructure with 200+ Industrial Parks/Estates. It has become a cement hub of the country, with a booming housing & real estate sector. There is significant manufacturing of Steel and Steel Products in West Bengal contributing to exports as well. The Bengal Silicon Valley Hub has already attracted 41 IT & ITES companies, on 200 acres of land, including 11 Data Centers. Fin Tech Hub has attracted all major banks and financial institutions on 69 acres of land.
West Bengal is one of top states in India in terms of MSME Development - Bank lending to MSMEs in West Bengal has reached a record of Rs. 1.48 lakh crore in 2023-24, partly due to the State's proactive role. India's largest Logistic Hub has come up in West Bengal, given our geo-strategic location.
Bengal Global Business Summit (BGBS) is the flagship summit of the Government of West Bengal. The summit envisions to bring together policymakers, corporate leaders, business delegations, entrepreneurs, academia, and think-tanks from around the globe with the purpose of making strategic and business alliances as well as to learn about the industrial ecosystem and business friendly initiatives of the state.
The 8th Bengal Global Business Summit will have Plenary Sessions, Sectoral sessions for focus sectors, Country sessions with partner countries, and B2Bs & B2Gs meetings to expand networks and meet potential partners. The avenues of collaborations spread across multidimensional spectrum of sectors.