Despite land acquisition problems, West Bengal has received investments of up to Rs 5.3 lakh crore till September 2009 over a 12-year period, according to the Associated Chamber of Commerce and Industry of India (Assocham) study.
Around 42.5 per cent of the proposals were in various stages of implementation. The study was released by Venugopal Dhoot, past president of Assocham.
Swati Piramal, president Assocham said, West Bengal would be able to see execution of couple of more projects amounting to Rs 1,00,000 crore in the remaining part of the current fiscal.
She pointed out that services, manufacturing and real estate hub centre in West Bengal for public and private investments in the last three years which was evident from the fact that it could collectively attract close to Rs 3,50,000 crore across 899 projects.
Of the total investment up to September 2009, about 51 per cent was at the announcement stage. Around 0.82 per cent accounting for an investment of Rs 4,347 crore was completed during the quarter.
The Assocham has suggested that West Bengal should come out with a strategy of using public investment, exclusively for development of primary sector and private investment for industry and services.
The state should restrict itself to the role of regulation while the private sector developed and managed industry and services, felt the association. The Assocham team met chief minister Buddhadeb Bhattacharjee on Wednesday.