Bengal emerging as new investment destination: Pranab

Kolkata, Apr 1 (IANS) Recent developments suggest that West Bengal is emerging as the new investment destination, union Finance Minister Pranab Mukherjee said Sunday.

"Recent developments suggests that West Bengal is emerging as the new investment destination which rekindles optimism about the future of the state. As on December, 2011, the state has about 900 live investment projects worth Rs 6.11 lakh crore," Mukherjee said at a programme organised by Assocham here.

"It (Bengal) has a share of 4.4 percent in the total investment announced by the government and the private sectors in India as on December, 2011," he added.

The finance minister said the state had got Rs.58,000 crore new investment and was the clear indication that the industrialists and prospective investors were looking at the state with both hope and expectations.

"The state attracted new investment worth Rs.58,000 crore. Manufacturing sector has got the major share - 36.5 percent of total live investment, this is followed by electricity (29.4 percent) and service sector (18.9 percent)," he said.

He said with the change in the state government, there was a significant scope to improve policy environment to attract more capital.

"Political choice exercised by the people of Bengal in the last (assembly) elections clearly indicates their expectations for change and new aspirations. I am happy that the new government, under the leadership of Mamata Banerjee, is responding to this new aspirations and expectations of the people," Mukherjee added.