West Bengal, India’s sixth largest economy, had a gross state domestic product (GSDP) of US$ 140.6 billion in 2015-16, growing at compound annual growth rate (CAGR) of 10.42 per cent since 2004-05.
West Bengal is the third largest state in India in term of mineral production, accounting for about one-fifth of total mineral production. Coal accounts for 99 per cent of extracted minerals. The state is the largest producer of rice and second largest producer of potato in India. Milk production in the state increased to 5.18 million tonnes in 2016-17.
The natural resources, policy incentives and infrastructure in the state support investments in major sectors such as iron and steel, biotechnology, coal, leather, jute products, tea, IT, gems and jewellery. The state has 3,000 acres of land at its disposal to set up industries.
West Bengal has 12 growth centres for medium and large scale industries, set up by the West Bengal Industrial Development Corporation (WBIDC). There are exclusive growth centres for electronics, software technology and export processing. Major industrial areas of West Bengal are Haldia, Kolkata, Asansol-Durgapur region, and Kharagpur.
Some of the major initiatives taken by the government to promote West Bengal as an investment destination are:
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