Bengal Bets Big On Industry: Jobs, Green Push, And Investment Incentives In New Policy

Kolkata: The West Bengal government rolled out its new industrial promotion policy in a bid to attract big-ticket investments on Thursday. With the chief minister of the state, top ministers, and industrialists in attendance, the state laid down the roadmap to revive its industrial sector. With a focus on incentives to attract more investments, the state announced job creation with a prime focus on women.Speaking at the launch, Chief Minister Suvendu Adhikari said, "Every new job created will be rewarded. We are extending substantial employer EPF contribution reimbursements, leading with 100 per cent reimbursement for women and transgender employees in MSMEs for 10 years, 75 per cent for women in eligible service units, and robust support for large and strategic industrial projects. We are also committing grants toward Working Women's Hostels to ensure safe, inclusive workplace ecosystems.""The new policy addresses the three things that decide where capital goes: land, speed of approvals and incentives tied to jobs. In doing so, it aligns Bengal firmly with the national agenda of Atmanirbhar Bharat and Make in India," said Vivek Lohia, MD, Jupiter Wagons Limited.Harshvardhan Neotia, Chairman, Ambuja Neotia, said, "Linking incentives to employment, supporting women's participation through EPF reimbursements and hostels, and encouraging research and development are particularly welcome measures. SGST-linked assistance, electricity duty concessions, interest subvention and stamp duty relief can further encourage industrial expansion and new investments. The focus on emerging sectors, green technologies, modern manufacturing and improved infrastructure also creates opportunities for Bengal's talent and local suppliers to participate in new industries."The government has also announced a GIS-mapped industrial land inventory and an 'industry buddy' concept for for time-bound clearances to set up industries in the state.Speaking at the event, West Bengal Chief Secretary Manoj Agarwal said, "The state government has saved Rs 30,000 crore to implement this new industrial policy to revive this sector with incentives that were missing over the last decade." The state also studied the land and industry policy of several states such as Maharashtra, Uttar Pradesh, Tamil Nadu and Gujarat before framing Bengal's policy.As part of the incentives, the state will be giving higher financial assistance up to 120 per cent of eligible Fixed Capital Investment (FCI), which will be granted to units operating in the state's designated priority areas and thrust sectors. The previous Trinamool-led Bengal government had passed a law in 2025, retrospectively withdrawing industrial incentive schemes and financial benefits granted from 1993 to 2021.