West Bengal has about 538 tanneries, and accounts for about 50% of India’s leather goods exports.
West Bengal, India’s sixth largest state in terms of economic size, has a projected Gross State Domestic Product (GSDP) of Rs. 17.13 trillion (US$ 221.37 billion) in 2022-23. The state’s GSDP grew at a CAGR of 11.54% from 2015-16 to 2022-23BE.
West Bengal is the largest producer of rice in India. Rice production for the state totalled 14.99 million tonnes in 2017-18. West Bengal is also a major producer of fish. During 2018-19, the state produced a total of 1.85 million tonnes of fish.
As of August 2022, West Bengal had a total installed power generation capacity of 10,656.38 MW, of which 5,997.95 MW was under state utilities, 2,912.02 MW under private sector and 1,746.41 MW under central utilities.
In the State Budget 2020-21, the Government of West Bengal has allocated Rs. 4,400 crore (US$ 624.20 million) to Public Works (Roads) Department. Of this budget, Rs. 2,092 crore (US$ 296.78 million) has been provided for development of state highways and Rs. 1,820 crore (US$ 258.19 million) for district and other roads.
The state is the second-largest tea growing state in India. Tea production in West Bengal stood at 52.1 million kg in August 2022.
Between October 2019-June 2022, FDI inflows in West Bengal stood at US$ 1,048.25 million.
Some of the major initiatives taken by the Government to promote West Bengal as an investment destination are: