Bengal plans state-backed industrial land purchases to attract investment
Chief minister Suvendu Adhikari said the government will buy land for companies instead of using force to acquire it.
West Bengal Chief Minister Suvendu Adhikari announced on Thursday that the state government will purchase land for industrial projects rather than using police for forcible acquisition. According to Urban Acres, the chief minister also disclosed that discussions are currently taking place with Ashok Leyland regarding the Singur site.
The chief minister stated that the government is in talks with HUDCO, NABARD, and the Asian Development Bank to secure funds for these land purchases. He noted that officials are studying land-pooling and development models used in Gujarat, Maharashtra, Uttar Pradesh, and Andhra Pradesh.
Adhikari said the state has facilitated land arrangements for 33 business groups over the last six months, including Reliance, Vedanta Group, Amul, and Campa Cola. He also mentioned arrangements for the Sanjiv Goenka Group in Haldia and the recovery of plots from closed units in the Barrackpore industrial belt.
While the chief minister suggested Bengal could facilitate investments of approximately Rs 1 lakh crore in the coming months, he noted the state cannot currently clear industrial incentive dues of Rs 50,000 crore. He said the previous administration failed to pay between Rs 7,000 crore and Rs 8,000 crore every year, and the state will consider settlements once it achieves a financial surplus.
Sidharth Pansari, managing director of Primarc, called the investment policy a positive move that could create jobs and increase demand for infrastructure. Ajay Jain, chairman of the board of IIM Calcutta Innovation Park, said the policy's research and development provisions could strengthen links between academic research and industrial applications.