New Delhi [India], August 19 (ANI): West Bengal has significant potential to accelerate industrialisation by adopting a cluster-based, technology-intensive and export-oriented manufacturing strategy, with precision engineering, electronics, renewable-energy equipment, food processing, automotive and railway components, and maritime manufacturing emerging as key investment opportunities, according to a report by the PHD Chamber of Commerce and Industry (PHDCCI).
The report noted that the State's next phase of industrial growth should focus on converting its existing natural, human, industrial and logistical advantages into integrated, investment-ready manufacturing and export clusters.
PHDCCI President Rajeev Juneja said West Bengal has a substantial base for accelerating industrialisation and investment, with the key opportunity lying in integrating its existing strengths into manufacturing and export clusters.
The State's GSDP increased from Rs 6.10 lakh crore in FY2015-16 to Rs 9.42 lakh crore in FY2024-25, registering a CAGR of about 4.95 per cent, while GSVA grew at approximately 5.26 per cent. Services accounted for an average 42 per cent of GSVA during the period, compared with around 23 per cent for industry, indicating scope to deepen the manufacturing base while leveraging the State's expanding services and human-capital ecosystem.
The report highlighted investment-ready industrial land as a critical requirement and proposed a rolling pipeline of 5,000-10,000 acres, including 2,000-4,000 acres for anchor industries and 3,000-6,000 acres for MSMEs and supporting industries. It also proposed a Mega Industrial Parcel Programme targeting 32-47 large parcels.
West Bengal's established engineering ecosystem could support an advanced manufacturing corridor spanning Howrah, Durgapur and Kharagpur, focusing on precision components, railway and automotive components, industrial machinery, and aerospace and defence components.
The report also proposed positioning the State as an "Eastern India Integrated Electronics & ESDM Hub", leveraging existing electronics clusters at Naihati and Falta, technical institutions, ports and access to eastern and northeastern markets.
Renewable energy offers opportunities in solar modules, battery materials, storage systems and related electrical equipment. Meanwhile, the maritime sector could attract Rs 20,800-34,500 crore in investment, with potential annual shipbuilding output of Rs 25,000-40,000 crore and 50,000-70,000 direct jobs.
The report also called for greater integration of agriculture with food processing, cold chains, warehousing and export logistics, while leveraging West Bengal's position as an eastern gateway to expand exports to Bangladesh, ASEAN and East Asia. (ANI)
West Bengal can accelerate industrialisation through cluster-based manufacturing strategy: PHDCCI
