Kolkata, Feb 5 (PTI) An investment pledge of Rs 50,000 crore in West Bengal by “the end of the decade” from Reliance Industries and Chief Minister Mamata Banerjee’s announcement of the state’s infrastructure readiness to begin extraction from the Deocha-Pachami coal block “as early as tomorrow” formed the highlights of the inaugural day of the state’s flagship business conclave.

Speaking on the first day of the eighth edition of the Bengal Global Business Summit (BGBS), Banerjee also announced the formation of a new state-level synergy committee to facilitate ease of doing business. She later called the day’s session a “majestic and stupendous success”.

Bhutan Prime Minister Dasho Tshering Tobgay, who was earlier expected to lead the delegation of his country, however, gave the summit a miss. The neighbouring nation was, instead, represented by its Agriculture Minister Younten Phuntsho.

Speaking at the inaugural session, Reliance Industries chairman Mukesh Ambani said, "Today, in less than a decade, our investments in Bengal have increased 20 times, and we have invested over Rs 50,000 crore. Mamata Didi, we shall double this investment by the end of this decade. Our investments have created over one lakh direct jobs." The chief minister, while stating that the Deocha-Pachami coal mine project will act as a catalyst for the state's industrial sector, said, “Infrastructure is ready; coal extraction could begin as early as tomorrow. Job opportunities will also be provided to land donors. Family members of the landowners will be provided jobs. The arrangement for compensation is fully in place.” Banerjee also claimed that projects worth nearly Rs 13 lakh crore obtained from the previous seven editions of the summit have already kicked off in the state.

She added that the state’s projected GSDP in the current fiscal stood at Rs 19 lakh crore and emphasised that Bengal grew at a faster pace than the national GDP in the last financial year.

The two-day summit saw participation from over 200 delegates from 40 countries, including prominent industrialists like Mukesh Ambani, Sajjan Jindal, Sanjiv Puri, Sanjiv Goenka and Harshvardhan Neotia besides home-grown celebrities like Sourav Ganguly.

Jharkhand Chief Minister Hemant Soren also attended the inaugural session of the conclave.

Ambani's announcements focused on five key areas. First, he reiterated Reliance Jio's commitment to digital infrastructure, revealing that Kolkata's data centre has been upgraded to an AI-ready facility, expected to be operational within 9 months.

The state's first cable landing station in Digha will be commissioned early next year, Ambani said.

The other announcements comprised Reliance Retail's increase of store network from 1,300 to 1,700 within 3 years, plans to feature Bengal's products like 'Jamdani' and 'Taant' sarees in 'Swadesh' stores across India and abroad, commencement of Reliance's New Energy initiative by the end of 2025 and the Reliance Foundation's partnership with the state on the Kalighat Temple renovation project.

In her address, Banerjee emphasised the state’s economic progress and ongoing infrastructure development.

“I am announcing the formation of a new state-level synergy committee to facilitate ease of doing business in the state. It will be chaired by the chief secretary. It will be a one-stop destination for all forms of clearance for doing business in Bengal,” she said.

Responding to criticism of the summit from the opposition, including remarks from BJP leader Suvendu Adhikari who called it an “optical illusion”, the CM said, “Many ask what these summits achieve. But today, every other state is following our example and organising similar events. This summit is crucial for the future generations of Bengal.” At the summit, JSW Group Chairman Sajjan Jindal announced an investment of Rs 16,000 crore to develop a 2x800 MW power plant at Salboni, while stating that the company plans to double its capacity in future.

He also announced his plans to invest and facilitate an industrial park project over a 2000-acre plot and confirmed that the company was considering infrastructure development at Durgapur airport.

The Ambuja Neotia Group committed an investment of over Rs 15,000 crore over the next 5 years.

Highlighting Bengal’s strategic advantages, including its "skilled workforce, growing infrastructure, and proximity to Asian markets," group chairman Harshvardhan Neotia said, "The group will invest Rs 1,500 crore in healthcare, setting up five new hospitals across the state, adding 1,300 beds." "Rs 2,700 crore will be invested to develop a luxury hospitality circuit with Taj Hotels, featuring 7 premium and 2 convention hotels in Kolkata and Siliguri, adding 1,400 rooms," he added.

A golf-themed township, "Bengal’s first international-standard golf township," will see an investment of Rs 5,000 crore, he said.

Sanjiv Goenka, chairman of RP-Sanjiv Goenka Group announced a consolidated investment of Rs 10,000 crore over the next few years across energy, health care and education sectors.

Diversified conglomerate ITC Limited announced the opening of its global centre of excellence for Artificial Intelligence (AI) in the metropolis.

Meanwhile, the BJP accused Mamata Banerjee of "orchestrating a farce" in the name of a business summit and misleading the people regarding the state's economic situation. PTI BSM/DC PNT NN MNB SMY NN