Kolkata, Nov 5 West Bengal Chief Minister Suvendu Adhikari on Thursday sought to assure industrialists and investors that benefits promised under the new investment policy would not be diluted later, saying “an incentive is only as good as the trust behind it”.
In a message to investors, entrepreneurs and “friends of West Bengal”, Adhikari said the incentive terms for an investor would be fixed on the date of issuance of the certificate of intent, and later amendments would not reduce the benefits.
The assurance assumes significance as the previous TMC-led government had scrapped incentive dues through a legislative process.
The CM’s message came hours after he unveiled the West Bengal Investment Promotion Policy, 2026, aimed at boosting industrialisation and generating employment opportunities.
“The government has bound itself to clear timelines,” Adhikari said, adding that a certificate of intent would be issued within 30 days, a certificate of eligibility within 45 days, and sanction given within 30 days of a complete claim.
He said sanctioned assistance would be paid from a dedicated assured incentive fund, while larger projects would be supported by a senior officer and their progress would be reviewed regularly.
The chief minister said the policy was designed to turn these promises into everyday practice.
Projecting West Bengal as the gateway to eastern and north-eastern India, Adhikari pointed out the state’s ports, airports, inland waterways and road and rail networks, as well as its industrial strengths in engineering, metals, chemicals, jute, textiles, leather, tea and logistics.
He also cited institutions such as IIT Kharagpur, IIM Calcutta, ISI Kolkata and IIEST Shibpur, along with a “large and stable workforce”, as advantages for enterprises.
“Our purpose is simple. We want investment that creates jobs, adds value and reaches every district of the state,” he said.
Adhikari said the policy offers total assistance of up to 120 per cent of eligible investment in plant and machinery, spread over as many as ten years from the start of production.
Projects in less-industrialised areas, and in sectors such as semiconductors, electric vehicles, green hydrogen, pharmaceuticals, defence and shipbuilding, would receive greater support, he said.
MSMEs have a dedicated set of benefits, while services such as information technology, healthcare, tourism and education follow a separate track, he added.
Describing the policy as Bengal’s contribution to the Prime Minister’s vision of an Atmanirbhar Bharat and a Viksit Bharat, Adhikari said India would be self-reliant only when its states manufacture, innovate and export with confidence.
Stressing inclusive growth, the chief minister said the policy rewards employment, particularly of women, with full reimbursement of the employer’s EPF contribution for women and transgender workers in MSMEs.
On clean energy, he said the policy provides a complete waiver of cross-subsidy and additional surcharge on green power sourced within West Bengal until March 2030.
“Together, let us make Bengal a pillar of a self-reliant and developed India. Your success will be our success, and my government will stand with you at every step,” Adhikari said.
(PTI News)
