Industry & Economy
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Economy
`Bengal industrial growth shows encouraging signs'
Our Bureau
Kolkata
,
Feb. 26
THE Governor of West Bengal, Mr Viren J. Shah, on Thursday said that the industrial scenario in West Bengal has "continued to display encouraging signs of advance".
Addressing the opening day of the Budget session of the West Bengal Legislative Assembly here, Mr Shah said that during the calendar year 2003, a total of 71 units involving an investment of Rs 1,498.35 crore have been implemented.
Last year, a total of 22 new industrial units in the iron and steel sector have been set up at an investment of Rs 155 crore. The power sector has progressed commendably with the public and private sectors together generating 15,700-MW of electricity during the period April-November 2003.
Mr Shah said that, in order to accelerate economic programmes and promote rapid and orderly growth, the West Bengal Special Economic Zone Act, 2003 has been passed in the State Assembly. Moni-Kanchan, a gems and jewellery park, recently inaugurated in Salt Lake here, has been declared as the first sector-specific special economic zone in India.
An institute of toy making technology has been established in Kolkata to impart training in the toy business. The first phase of a modern toy-manufacturing project has already been inaugurated.
According to him, the IT sector in the State has registered a compounded annual growth rate of 88 per cent in the last six years. The State's new IT and ITES policies have rightly leveraged on the inherent strengths of Kolkata and enhanced its ranking and competitive advantage as a destination for IT and ITES investments.
Mr Shah's address was interrupted by members of the Opposition who alleged that his speech did not reflect the true picture of the State. He could read only the first few and the last few lines of his written speech, which was then taken as read.
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