Singapore Business Federation Extends Invitation to CII West Bengal for Investment Collaboration
At the CII West Bengal annual day event held in Kolkata, Singapore Business Federation (SBF, India Business Council) chairman Prasoon Mukherjee extended a formal invitation to members of the CII state council. He urged them to visit Singapore and explore potential investment opportunities in Bengal, emphasizing the region's untapped business potential.
Investment Commitments and Job Creation Plans
In his special address, Mukherjee, who also serves as the chairman of Universal Success, revealed that the USEL Group has cumulatively invested and committed over Rs 8,200 crore in Bengal. This substantial financial injection is projected to create more than 50,000 jobs, significantly boosting the local economy. The group is actively exploring opportunities in emerging sectors such as green energy and artificial intelligence (AI), aiming to diversify its portfolio and contribute to sustainable development in the state.
Mukherjee detailed specific projects, including the establishment of a data centre with an investment of approximately Rs 2,000 crore. Additionally, USEL is developing logistics parks in Uluberia and Kona, along with an IT park in Sector V, further enhancing Bengal's infrastructure and technological capabilities.
Industry Leaders Share Insights and Experiences
CII West Bengal State Council chairman Debashis Dutta expressed enthusiasm for attracting businesses from Singapore, highlighting the collaborative spirit between the two regions. Other prominent industry figures shared their experiences and ongoing projects in Bengal.
- Titagarh Group: Vice-chairman and MD Umesh Chowdhary announced the company is setting up the country's largest metro coach factory in Bengal. He noted that the group supplies metro coaches to various Indian cities from this facility, attributing success to a robust MSME base that provides essential components.
- Bandhan Group: Chairman CS Ghosh discussed the challenges and rewards of operating in the state.
- Peerless: MD Jayanta Roy shared insights on business dynamics in Bengal.
- Tega Industries: Group CEO and MD Mehul Mohanka elaborated on their operational strategies and growth plans.
Steel Project Update from Sourav Ganguly
Former Indian cricket captain Sourav Ganguly, who was present at the event, provided an update on his proposed steel project. He confirmed that the project is on track and expected to be completed within the next 18 months, with construction already underway. The investment for this initiative amounts to Rs 3,000 crore and will be implemented by Captain Steel, marking a significant contribution to Bengal's industrial landscape.
This event underscored Bengal's growing appeal as a hub for investment and innovation, with leaders from both Singapore and India fostering stronger economic ties and exploring new avenues for growth.
