ASSOCHAM envisages Rs. 100,000 crore investment in Bengal

Kolkata, Feb 18(UNI) Identifying West Bengal as the main business growth centre, the Associated Chamber of Commerce and Industry of India (ASSOCHAM) is preparing a blueprint for attracting Rs.100,000 crore investment from deomestic and multi national companies in the state by 2010.

The blueprint, which is in the final stage, will be shortly submitted to West Bengal Chief Minister Buddhadeb Bhattacharjee identifying chemicals, petrochmicals, engineering, automobiles, food processing, agri-business, bio-technology, IT and ITEs as the potential areas, ASSOCHAM President Venugopal N Dhoot today said.

"West Bengal is set to attract an additional investment of Rs.

100,000 crore by 2010 in view of its investment friendly policies and the fastest growth in domestic product. ASSOCHAM has created a committee under Chairmanship of B G Bangur, which is finalising the blueprint," Mr Dhoot told in a press conference.

In order to fructify the estimated investment, the ASSOCHAM would organise West Bengal Invest Mart in September this year showcasing the state as the best investment destination to about 500 business leaders from across the country and abroad, he said.

"We are trying to make Italy and France as the partners countries for the Invest Mart. I have already talked to Italian Prime Minister Romano Prodi with the request and he has responded," the ASSOCHAM Chairman said.

The other foreign countries to be contacted to participate in the conclave, included the USA, the UK, Canada, Austraila, Germany and Japan, he said.

In reply to a question, Mr Dhoot said some of the findings of ASSOCHAM had revealed that the food processing sector, Biotchnology, IT and ITEs would alone attract investment of Rs 40,000 crore by 2010 while an investment of Rs.50,000 crore had been projected in the blueprint for the chemicals and petrochmicals, engineering and automobile sectors.

"We are going to approach the first 50 big industrial houses, including the Tata, Birlas, Ambanis and Mahindras to come up with investment. We will also start visiting some foreign countries in October as part of our effort to rope in the MNCs with whom we have good relationship," Mr.Dhoot said.

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