Kolkata, Nov. 5 -- Accusing the previous Trinamool Congress government of leaving industries to acquire land on their own and failing to disburse promised incentives, Chief Minister Suvendu Adhikari on Thursday unveiled a new industrial policy promising government-backed land banks, employment-linked subsidies and time-bound clearances to attract investment.
Ruling out both forcible land acquisition under the Left Front and the TMC's land policy, Adhikari said his government would facilitate direct negotiations with landowners, offering compensation above market rates wherever necessary. It would also create a land bank, with discussions underway with HUDCO, NABARD and the Asian Development Bank to mobilise funds.
Companies holding unused industrial plots allotted by the previous government have been asked to initiate projects within three months or return the land against a refund of the original purchase price. Adhikari said available industrial land could facilitate investments worth Rs 1 lakh crore in the coming months. Talks are also underway with Ashok Leyland for a vehicular project on the Singur land earmarked for Tata's Nano project.
The government has arranged land for 33 business groups, including Amul, Vedanta, Reliance and Campa Cola. Projects underway include Lux Cozi's Rs 600-crore unit, Amul's Rs 700-crore project and industrial expansions in Midnapore and Raghunathpur. JSW's second-phase power project at Salboni may see a groundbreaking in January.
The West Bengal Investment Promotion Policy, 2026, makes employment generation a key determinant of government support. Eligible manufacturing units can receive employment-linked assistance of up to 50 per cent for 10 years, while service-sector units can receive up to 75 per cent. Eligible MSMEs employing women and transgender persons can receive incentives of up to 100 per cent. Capital subsidies will rise to 110 per cent for thrust-sector units and 120 per cent for units in priority and backward areas. The policy covers manufacturing, MSMEs, IT, healthcare, tourism, education, financial services and clean energy, besides strategic sectors such as defence, semiconductors and electric mobility.
To address delays in incentives, the government has prescribed 30 days for issuing Certificates of Incentives, 45 days for Certificates of Entitlement and another 30 days for disbursing assistance after claims are submitted.
Adhikari said the outstanding incentive liability inherited from the previous government was nearly Rs 50,000 crore, beyond the state's present financial capacity. The government would honour commitments falling due after May 9, 2026, but could not immediately clear the accumulated backlog.
Chief Secretary Manoj Agarwal said district committees headed by DMs would assess industrial land requirements and consider case-specific relaxation of ceiling limits. Industries Minister Tapas Roy said SGST-linked assistance would boost manufacturing, while MoS Moumita Mishra Biswas said cabinet-approved incentives for employing women and transgender persons had been incorporated into the policy.
Published by HT Digital Content Services with permission from Millennium Post.