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Bengal Global Business Summit: Much ado about nothing?

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Indrajit Kundu
Indrajit KunduJan 21, 2017 | 18:09

Bengal Global Business Summit: Much ado about nothing?

With much fanfare, the Mamata Banerjee government has conducted the third edition of the Bengal Global Business Summit in Kolkata to woo investors to the state.

Like in previous editions, the two day mega event was big on show, full with giant banners accompanied by Mamata Banerjee's image highlighting state's achievements, blue and white lights (CM's chosen colour scheme for the state) and of course green carpets (she hates red) to welcome business delegates to the conclave.

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However, the question everyone's asking in Kolkata - what has the event achieved in real terms over the past three years?

After the 2016 summit, the government had announced that Rs 2.50 lakh crore "worth of business announcements, business document exchanges, expressions of interest and investment proposals" had been received across sectors.

However the government response on how much of it has actually materialised on the ground remains vague at best.

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Vendor selling tea and snacks at the Bengal Global Business Summit venue. [Photo: DailyO]

The West Bengal Industrial Development Corporation (WBIDC) portal mentions investments of Rs 15,052 crore for 2010-11, the year when Mamata Banerjee had just come to power.

However, there is no mention of any investment data in subsequent years between 2011 and  2016, when Banerjee completed her first term in office.

For a fire brand leader like her who drove to power by driving out the Tata Nano project from Singur, shedding off her anti-industry image is no easy task.

Notwithstanding her rhetorical claims of creating land bank for industry, Banerjee's "hands off" policy on land acquisition remains the single biggest deterrence to any big industrial investment in Bengal.

It does not come as a surprise then, that while she was busy wooing business leaders in Kolkata this Friday; farmers were up in arms against the state administration, clashing with the police in a violent anti-land acquisition protest over a power grid project in Bhangar, barely 30km from where the conclave was taking place.

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For over two months, villagers in South 24 Pargana district have been protesting against a power substation project by the Power Grid Corporation of India (PGCIL), alleging that 16 acres of prime farmland had been forcibly acquired by the state using the local Trinamool leadership.

Just 48 hours before business summit in Kolkata, two villagers died in firing during clashes with the police in Bhangar. With a deafening silence, chief minister Mamata Banerjee left it to party leaders like Mukul Roy to fire fight.

To quell the anger, the state government announced scrapping the project, blacked out cable TV in the area and sent out bulk text messages to citizens.

"WB administration is with the people of Bhangar. No land will be forcefully acquired. The project will also be stopped if the people so desire...Issued by WB Govt. in Public Interest," the message read.

Not surprisingly, the tables have now turned on Mamata Banerjee with the ghost Nandigram and Singur back to haunt her as the chief minister at a time when she is desperate for investments in the cash strapped state.

Not just private enterprise, land is required for even essential government infrastructure projects too. Several national highway expansion projects in Bengal have been stalled as the government has asked the administration to go slow on matters of land acquisition.

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Anti-land acquisition protesters block road in Bhangar village. [Photo: DailyO]

With such a precedent, land has become a political hot potato in the state. Experts point out the impossible task for private investors to engage with individual farmers to convince them to give farmland for industry, no matter what the sops on offer were.

Amidst the prevailing situation, the constant antagonistic stance of the ruling political dispensation to whoever is in power at the centre has only made things worse for Bengal.

Be it the three decade long Left regime or the present Trinamool government, the state's opposition to the central government has mostly been constant with Mamata Banerjee usurping the age old Left rhetoric complaining of "Centre's neglect" made famous by Jyoti Basu.

Given the existing hostility, the Bengal Global Business Summit had no union government participation with finance minister Arun Jaitley skipping this year's event.

With Mamata once again slamming Modi from the event, it is clear who the target audience for the event is. A gigantic public relations exercise for the urban electorate to make believe that something is happening on the industrial front.

No wonder Bengali banners proclaiming the success of Mamata's pet schemes like Kanyashree, Yuvashree and Khadya Sathi have lined-up the road to Kolkata airport welcoming...guess what, foreign investors!

Last updated: January 21, 2017 | 18:09
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