West Bengal unveils new industrial policy to boost investment and jobs
The state government is offering up to 120 per cent assistance for plant and machinery to attract businesses.
The West Bengal government has introduced the West Bengal Investment Promotion Policy, 2026, to accelerate industrialisation and job creation, according to Moneycontrol. Unveiled by Chief Minister Suvendu Adhikari on Thursday, the policy offers financial assistance of up to 120 per cent for investments in plant and machinery for units in priority areas and thrust sectors.
The policy, which has been in effect since May 9, targets various sectors including IT, healthcare, tourism, and semiconductors. It covers MSMEs, large units, and mega projects, while also providing incentives for reviving closed industrial units and supporting not-for-profit institutions like hospitals and universities.
A significant feature includes the reimbursement of employer contributions to the Employees' Provident Fund (EPF). MSMEs will receive 100 per cent of these contributions for women and transgender employees for 10 years, compared to 50 per cent for men.
To improve ease of doing business, the government is implementing a Single Window Portal for online applications. The policy promises a certificate of intent within 30 days and direct incentive payments to units within 30 days of claims being sanctioned.
The state is also planning a new land policy to assist investors in securing plots. According to The Telegraph, the government may buy land directly from owners to transfer to companies, aiming to avoid the social conflicts associated with compulsory acquisition.