The Hindu Business Line : Bengal keen to bridge the Gulf with investors

WEST Bengal has made its first exploratory foray into the Gulf region in a bid to attract investors to participate in the State's key growth areas of downstream petrochemicals, agro-based industries and special economic zones.

Mr Nirupam Sen, West Bengal's Commerce and Industries Minister, who is heading a high-level delegation to the UAE to discuss mutual business opportunities and make a presentation of the State's strengths and growth plans, told Business Line here on Monday that the main purpose of the visit was to attract investment in certain sectors like the downstream petro-chemical sector, agro industry, gems and jewellery and joint ventures in special economic zones.

``This is our first visit to the UAE and we plan to highlight the immense potential of West Bengal. Till now, most of the business interaction of the Gulf states has been with western India. We believe that there should be more exchange between Gulf region and West Bengal in view of the huge natural and human resources available with us,'' he said.

Mr Sen indicated that a Central Government committee was at present studying a proposal to set up a Chemical Hub in Haldia. This would provide scope for a number of large international companies to invest in projects in the downstream petrochemical and chemical sectors, he said. Mitsubishi and Asia Petronas had already invested in major projects in the area, he added.

Moves are also underway to set up a special economic zone for multi-purpose industries along with a minor special port at Kulpi in the southern part of the State. A joint venture by Bengal Port Ltd and the MNC P&O has been set up for this purpose.

The State Government is keen to attract investors to start ventures in the zone, where special incentives will be on offer, he said.

In view of the large quantities of fresh and processed agro products imported by the UAE, West Bengal, which is the largest producer in India of a number of fruits and vegetables, is keen to enter into joint ventures in the area of food processing, the Minister said.

A special economic zone for gems and jewellery being developed in the State will also enable export of fine finished products to the Gulf, he said. During his talks with officials in Sharjah and Dubai, a lot of interest was evinced in this special zone, he said.

Major infrastructure projects like townships are also being thrown open for investors on a BOT basis, while the IT sector in the State is also on an upward curve with many MNCs and Indian majors setting up base in the State in recent years, he added.

Mr Sen, along with the business mission leader, Mr Pathan, Chairman, CII Council for West Asia and Gulf, and other officials and members of the 17-member delegation earlier attended a meeting held by the Indian Business and Professional Group in Abu Dhabi. They also met with Abu Dhabi Chamber officials and discussed areas for greater cooperation.

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