Red carpet for foreign investors

The Left labour unions may have upped the ante against liberalised foreign direct investment (FDI) regime in the country but the party hierarchy is making right noises about FDI in its stronghold in West Bengal.

Buddhadeb Bhattacharya, chief minister of West Bengal today made a strong pitch for FDI in the state. He said interest of foreign investors would be protected at all cost.

"My message to foreign companies is you invest in the state, make profit and create jobs for our boys and girls," Bhattacharya, a CP(I)M politburo member, said while participating in a deliberation with the consular corps in Kolkata.

Pointing out that there was wrong perception that Left government in the state was not investor friendly, Bhattacharya welcome FDI in all sectors, including information technology (IT), agro processing, manufacturing, basic infrastructure and environment.

"We are realist. We know reform is inevitable. Either you reform or perish. But reform should not be at the cost of the poor," he said while referring to the restructuring of state PSUs where number of units were closed down. Bhattacharya said a major project for restructuring 56 manufacturing units would be taken up soon.

The chief minister also came down heavily on irresponsible trade union practices. Admitting the mistake of supporting fireband trade unionism in the past, he promised to take action against such acts.

Bhattacharya today released a publication 'A Resurgent West Bengal' which contained the proceedings of the business seminar organised by the consular corps of Kolkata in association with West Bengal Industrial Development Corporation (WBIDC) in November 2003.

Representatives of consular offices of countries like Germany, Denmark, France, Australia, Italy, United States, United Kingdom and Spain listed the developments which had happened following the meeting last year.

They noted interest about West Bengal has gone up significantly. Foreign delegations which used to bypass the city had started visiting, they added.

Australian and German companies were pursuing investment in mining sector while Danish corporate taking interest in milk products and environment. Co-operation in leather and gems and jewellery was also on the rise between state-based companies and Italian and French companies.