BJP Questions West Bengal Govt’s Claim On Investment Flow

There has always been a great race among the Indian States to attract investors – global and local. So, it was not surprising to see West Bengal chief minister Mamata Banerjee going all out to woo investors for the Bengal Global Business Summit held on February 5-6. Full page ads were splashed across all mainline and financial dailies for several days. With who’s who of the corporate world gracing the occasion, the Bengal government said it has signed investment proposals worth Rs 440,595 crore. Marketing maven Suhel Seth, tweeted, “you may disagree with her politics but no Chief Minister has tried so hard to garner investments into West Bengal as she has.” But BJP’s IT Head Amit Malviya was not so charitable. He wrote on X, Mamata Banerjee and her advisor, Dr. Amit Mitra, have once again launched their elaborate sham—the Bengal Global Business Summit (BGBS). This grand spectacle, filled with lofty claims and fraudulent promises, is designed to deceive Bengal’s population into believing in an illusion of economic revival. It is a mirage of prosperity, fuelled by exaggerated yet hollow proclamations of astronomical investments.” He asked: Why, despite promises of Rs 3.42 lakh crore in 2022 and Rs 3.76 lakh crore in 2023, have 98.82% and 97.21% of these investments, respectively, failed to materialize? Why is there a glaring absence of verifiable official data to substantiate the claims of a 50.27% implementation rate of investment proposals and the creation of 28 lakh jobs between 2015 and 2019? Why has Bengal received only 0.7% of the total FDI inflows—amounting to just ₹12,827 crore between October 2019 and June 2024…while Gujarat, Maharashtra, and Karnataka command 16%, 31%, and 21% of FDIs, respectively?