West Bengal GSDP projected at USD 221.39 bn for 2022-23: Shashi Panja

NewsDrum Desk
25 Nov 2022

New Delhi, Nov 25 (PTI) West Bengal’s gross state domestic product (GSDP) has been projected at USD 221.39 billion for 2022-23 which is approximately 3.7 times the increase from USD 64 billion in 2010-11, a state minister said on Friday.

Speaking at the International Trade Fair premises here, state industry minister Shashi Panja said that this accounted for 5.8 per cent of the national GDP and the state’s GSDP grew at a CAGR of 11.54 per cent from 2015-16 to 2022-23.

"West Bengal ranks among India’s top ten states attracting the highest cumulative FDI equity inflow worth USD 1,034 million from October 2019 to March 2022. Bengal is the key strategic gateway to the markets of South-East Asia, North-East India and neighbouring Bangladesh, Bhutan, and Nepal.

"Further, West Bengal has an abundance of skilled talent along with rich natural resources and it has transformed its work culture with zero man-days lost to strikes in the last 10 years," she said.

She said that the Deoacha Pachami Coal mine, which is the largest coal mine in Asia, will undoubtedly be a great source of investment opportunities, employment creation and manufacturing growth.

"The state government has also steadily supported its leather sector by establishing the Calcutta Leather Complex (CLC), which is Asia’s largest integrated leather complex with end-to-end leather value chain development that will promote economies of scale and create jobs," she said. She also said that a rehabilitation package is being worked out for the same.

She also said that West Bengal’s success in developing infrastructure and promoting economic growth can be witnessed in the numerous projects kick-started by the government.

The Tajpur Deep Sea Port is expected to bring in more than INR 25,000 crore in investments while creating 25,000 direct jobs along with 100,000 indirect jobs. The High-Speed Industrial Growth Corridors, such as Dankuni Raghunathpur will boost logistics capabilities and create multiple prosperous economic zones in the interconnected cities.

West Bengal has begun trial runs on the development of the Eastern Dedicated Freight Corridor, and this will place West Bengal as a key player in freight corridor connectivity. PTI ASG MR

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