West Bengal unveils new investment policy to boost industrial growth
The Bharatiya Janata Party government has announced incentives for plant and machinery and job-linked support for industries.
The Bharatiya Janata Party (BJP) government in West Bengal on Thursday announced the West Bengal Investment Promotion Policy, 2026, to attract fresh investments and generate employment. According to reports from The Hindu, BusinessLine and Moneycontrol, the policy offers up to 120 per cent assistance to thrust sector units in priority areas on their share of fixed capital investment made in plant and machinery.
Chief Minister Suvendu Adhikari unveiled the policy in Kolkata, stating that the government is making arrangements to buy land to create a land bank for industries. He said the state would not follow the Left Front's policy of forcible land acquisition or the Trinamool Congress's approach of asking industries to buy land without government support.
Under a 'jobs come first' approach, the state will provide employer EPF contribution reimbursements, including 100 per cent reimbursement for women and transgender employees in MSMEs for 10 years. The policy identifies thrust sectors such as semiconductors, electronics, green hydrogen, waste-to-energy, emerging digital technologies, EVs, batteries, defence, and food and marine processing.
The policy includes a 30-day delivery timeline for certificates of intent and a 45-day timeline for certificates of eligibility. A project is earmarked as a strategic and mega project if fixed capital investment exceeds Rs 500 crore when investors arrange land, or over Rs 1,000 crore if the government allots land.
Chief Minister Adhikari said the government has ended extortion and is committed to an industry-friendly atmosphere. He also alleged that nearly Rs 20,000 crore of state revenue had been siphoned off by mafia and anti-nationals during the previous Trinamool Congress regime.