Why Don’t We Prefer Of Doing Business in West Bengal?
West Bengal prefers doing 10 A.M. to 6 P.M. job. No one wants to be an entrepreneur. Because our education system is such that we produce only a clerk, not leaders. In absence of mentality of a leader, we become a clerk or manager but not a businessman. If we take one step to become an entrepreneur then red tape for doing business prevent us to become a businessman.
Changing business scenario, less of Government job and insecurity in the private job has compelled to do business.
West Bengal has advantages of doing business
West Bengal is the perfect destination for doing business. It has many advantages which we can not expect from other states. Let us see the advantages.
1. Growth Rate of West Bengal
The Growth rate of West Bengal is higher than the national level. The growth rate of the national level was 7.1% in 2018-19 but West Bengal had a growth rate of 12.58% in 2018-19.
The Finance Minister of state in a press conference in Kolkata said on 10th August 2019, “I am delighted to say that as per the Government of India’s ministry of statistics and programme implementation just-published table on GDP growth of states in 2018-19 West Bengal’s growth is the highest in the country at 12.58 per cent”.
2. Stable Government:
The West Bengal has the record of stable government since after independence. We see in other states that there are chances of toppling the state government but in West Bengal, only one party rules and there are no chances of instability.
Stable government has many advantages. One of them is a fixed policy. So businessmen/industrialist can chalk out a business plan for the next 5-10 years.
The other benefit of a stable government is the fulfilment of promises. When a government make promises to industrialist or business there is very much probability of fulfilment of promises.
3. Skilled Labour Availability in West Bengal
West Bengal has abandoned skilled labour. The quality of labour produced here is far better than other states.
4. Industry Ready Infrastructure in West Bengal
Almost whole West Bengal is covered by optic-fibre and teledensity is more than 94%. The state’s telecom strength is unparallel.
So every corner of West Bengal is connected by Road, Rail, River and telephonically. In addition to that, every village has an internet connection.
5. Railways Connectivity
Railway has connected every small city in West Bengal. Each and every city is connected by railway. It gives a huge advantage to transport the goods from one place of country to another place. It has second-largest metro connectivity also.
6. Road and Air Connectivity:
West Bengal’s 3.15 lakh km road network is India’s third-largest. A further USD 250 mln has been invested in road development. Two international airports in Kolkata and Bagdogra make for excellent air connectivity.
7. Sea Connectivity:
West Bengal, particularly the container and bulk handling ports of Kolkata and Haldia, is a maritime gateway for international trade routes reaching more than 1.9 billion people in Asia and Australasia. Navigable waterways include two major ports and three upcoming ports (two of them deep seaports).
8. Industrial Parks
There are more than 200 industrial parks planned or in existence in West Bengal, spread across 20,000 acres, including dedicated hubs for chemicals, textiles and food processing.
9. Urban Infrastructures :
The urban infrastructures in West Bengal improved significantly.
Six townships – with themes including sports, health and education, senior living, culture and analytics – are coming up across 331 acres.
10. Electricity supply
West Bengal ranks highest in terms of state power availability – 100% of villages are electrified thanks to a 13,825 MW generating station and 12,723 km transmission network capacity.
More of that, the state has surplus electricity. There will not be of any problem for present and future industry in West Bengal.
11. Natural resources
The state has 20% of India’s mineral. It is the third-largest producer of minerals.
Sulphur, silica and quartz are some of the deposits found, while total coal reserves are estimated at 31 billion tonnes. Deocha-Panchami is the largest coal block being developed under the public-private partnership model.
12. Agricultural output of West Bengal
The state is India’s greatest producer of vegetables and second-largest tea producer. Overall, it’s the third-largest agricultural producer in the country.
13. Support for MSMEs
West Bengal is home to the second-largest number of micro, small and medium enterprises, numbering 3.7 million businesses that employ 8.6 million people. The government has established an INR 200 cr venture capital fund to bolster MSMEs in the state.
14. IT infrastructure
The state government has dedicated more than 5 mln sq. ft. to plug and play IT parks. In addition to 11 existing IT parks, seven more will be unveiled over the next five years, including Microsoft’s Centre of Excellence and e-governance clusters.
The well known IT companies like ACCENTURE, TCS, WIPRO, COGNIZANT etc. are already present in the state and many more are coming.
15. Sector-specific incentives for ease of doing business
Sector-specific incentives are given by the state government for doing business in West Bengal.
Separate benefits extend to textiles, IT and startup industries.
How to start a business in the West Bengal?
Starting a new business needs planning. There are many formalities.
There are many acts and regulations. A couple of permission or No objection certificates to be procured from different govt organization.
The procurements need vast knowledge on each Act and regulations prevailing in the local area. So you need to hire a Legal firm or legal consultant doing your job. It is not easy to find an efficient and trustworthy legal professional is not an easy task. Further, their service has to be cost-effective so that it does not hamper your operation.
However, if you do a bit search you can find such legal consultant exists in Kolkata those are very cost-effective and trustworthy. “HR Legal Consultant” in Kolkata is one of best HR & Legal Consultant in Kolkata.
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