West Bengal unveils new investment policy to boost industrialisation
Chief Minister Suvendu Adhikari introduced the policy to accelerate job creation and provide up to 120 per cent assistance for certain investments.
West Bengal Chief Minister Suvendu Adhikari unveiled a new investment promotion policy on Thursday to speed up industrial growth and create jobs in the state, according to reports by ThePrint and Moneycontrol.
The West Bengal Investment Promotion Policy, 2026, has been in effect since May 9. It aims to attract fresh capital by linking various business incentives to the number of jobs generated.
Under the new framework, the government offers assistance of up to 120 per cent for investments in plant and machinery for thrust-sector units located in priority areas. The total assistance is capped at 100 per cent for regular units and 110 per cent for those in thrust sectors or priority areas.
The policy includes the reimbursement of employers' contributions to the Employees' Provident Fund (EPF). Micro, small and medium enterprises (MSMEs) will receive 100 per cent reimbursement for women and transgender workers for 10 years, compared to 50 per cent for men.
The BJP government has promised a more transparent process featuring online applications, fixed timelines for approvals, and direct incentive payments. Dedicated officers will also be assigned to manage large-scale projects.
Identified thrust sectors include semiconductors, green hydrogen, electric vehicles, and defence. The policy also covers service sectors such as IT, healthcare, tourism, and education.