Latest update: November, 2016
Last Updated: November, 2016
WEST BENGAL State Report | October, 2016
West Bengal is situated in eastern India and shares its borders with Jharkhand, Bihar, Odisha, Sikkim and Assam. The state also shares international borders with Bangladesh, Bhutan and Nepal. The Bay of Bengal is in the south of the state.
West Bengal is India's sixth largest economy, and recorded a gross state domestic product (GSDP) of US$ 140.56 billion in 2015-16. The state's GSDP expanded at a compound annual growth rate (CAGR) of 10.57 per cent from 2004-05 to 2015-16. Agriculture is the chief occupation in the state and contributed 18.8 per cent to the GSDP in 2014-15. West Bengal is the largest producer of rice in India. Rice production for the state totalled 16.1 million tonnes in FY 2015-16. West Bengal is also the largest fish producing state in India. During 2015-16, the state produced a total of 1.63 million tonnes of fish in comparison with a produce of 1.61 million tonnes during 2014-15. As of June 2016, West Bengal had a total installed power generation capacity of 9,988.4 megawatt (MW).
West Bengal is the second largest tea-producing state in India. During 2014-15, it produced 329.3 million kg of tea, accounting for 27.8 per cent of India's total tea production and is home to the globally acclaimed Darjeeling tea variety. Total tea production in West Bengal from April-September 2015 stood at 211.1 million kilograms. Kolkata is the prime centre for India's jute industry. The state stands first in the country in terms of jute production. In 2015-16, the state produced around 2.38 million tonnes of sugarcane and 3.1 million tonnes of fruits. West Bengal is also a leading exporter of leather and has about 666 manufacturing units producing leather and leather goods. About 22-25 per cent of India’s tanning activity is undertaken in Kolkata.
Its location advantage makes the state a traditional market for eastern India, the Northeast, Nepal and Bhutan. It is also a strategic entry point for markets in Southeast Asia. The cost of operating a business is lower in Kolkata than in other metropolitan cities.
West Bengal has abundant natural resources of minerals and suitable agro-climatic conditions for agriculture, horticulture and fisheries. It is in vicinity to mineral rich states like Jharkhand, Bihar and Odisha. It offers excellent connectivity to the rest of India in terms of railways, roadways, ports and airports.
The state (including Sikkim and Andaman & Nicobar Islands) has attracted Foreign Direct Investment (FDI) equity inflows worth US$ 3.93 billion during the period April 2000 to March 2016, according to data released by Department of Industrial Policy and Promotion (DIPP).
West Bengal has also made a beginning in information technology (IT) sector. By 2015-16, eight IT parks are expected to start operating in the state. In addition, seven new IT parks are expected to start in the state over the next five years. West Bengal stands 11th among Indian states in rankings based on ease of doing business and reforms implementation, according to a study by the World Bank and KPMG.
Last Updated: July 14, 2016