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.
It is India’s sixth largest economy, and recorded a gross state domestic product (GSDP) of US$ 116.1 billion in 2012-13. The state’s GSDP expanded at a compound annual growth rate (CAGR) of 16.1 per cent during 2008-13.
West Bengal has about 500 tanneries, and accounts for 55 per cent of India’s leather good exports. About 22-25 per cent of India’s tanning activity is undertaken in Kolkata.
Its locational 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. The contribution of the textile industry to the state’s GSDP is targeted to rise to 10.0 per cent by 2022-23 from 5.2 per cent in 2009-10.