West Bengal CM unveils new industrial policy to boost investment
Chief Minister Suvendu Adhikari launched the West Bengal Investment Promotion Policy 2026 to attract manufacturing and service-sector businesses.
West Bengal Chief Minister Suvendu Adhikari unveiled the West Bengal Investment Promotion Policy 2026 on Thursday to attract industrial investments and generate employment. According to Times Now, the policy offers financial aid reaching 120 per cent of a company's spending on plant and machinery, provided certain conditions are met.
The Chief Minister also signalled a potential industrial push in Singur, noting that the government is in talks with automobile manufacturer Ashok Leyland. A proposed investment in the Hooghly district town could involve approximately Rs 650 crore. Adhikari stated that Singur remains a priority for the government to bring industry back to the region.
Under the new framework, strategic and mega projects will be identified based on investment levels. BusinessLine reported that projects exceeding Rs 500 crore qualify if investors secure their own land, while those exceeding Rs 1,000 crore qualify if the government allots the land.
The policy includes incentives such as electricity duty waivers, stamp duty concessions, and SGST reimbursements. It also targets 15 priority sectors, including semiconductors, electronics, green hydrogen, and defence. Additional support is proposed for businesses that hire women and for industries operating in underdeveloped areas.
Addressing the gathering, Adhikari said the government would create a land bank for industries and would not use coercive land acquisition methods. He noted that the state is looking to facilitate investments worth around Rs 1 lakh crore over the coming months.