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Reference no. 215-024-1
Published by:
Amity Research Centers (2015)
8 pages
Data source:
Published sources
West Bengal (WB) was one of the most densely populated states of India, where more than 70% of the population lived in rural areas. Due to the significant progress in land distribution, WB was in the forefront of agricultural growth. But gradually the share of agriculture to gross domestic product (GDP) also reduced due to government’s shift in focus to industrial development. Even though WB has been able to attract sizeable investment proposals, implementation has left a lot to be desired. Problems in land acquisition are yet another reason behind the failure of the industrial policy. It was evident that the potential for growth in WB remained untapped. The share of industry as a percentage of the net state domestic product at factor cost in WB was only 10%, compared to 28% in Gujarat. The economy of WB had been performing below par for many years. The state was once a forerunner in the manufacture of products such as steel, textile, jute, tea and so on. However, over the years, the focus of the erstwhile government shifted back to agriculture, in addition to rising trade unionism forcing investors to shift base from the state. Analysts observed that WB was now faced with challenges to unlock the growth potential, overcoming the obstacles in socio-economic and industrial infrastructure to re-establish itself as a desirable investment destination.
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