//West Bengal Investment proposals in the state jumps 133% in 2005

West Bengal Investment proposals in the state jumps 133% in 2005

23 May 2006 # PTI

Kolkata: Investment proposals in West Bengal jumped 133.1 per cent to Rs 175,970 million during 2005, compared to Rs 75,384.2 million the previous year.

"Industrial Enterprenuer Memorandum have increased significantly. Out of 410 IEMs issued during 2005, 228 IEMs were filed by entrepreneurs for setting up new undertakings in Bengal with proposed investment intention of Rs 5,934.68 crore (Rs 59,346.8 million)," the latest report of Directorate of Industries said.

The proposed investment, which includes both greenfield and brownfield projects, was likely to provide employment to 86,329 people.

Some 47 odd investment proposals pertained to producing new products calling for capital infusion of Rs 44510.6 million.

Foreign Direct Investment (FDI) approvals during the year spurted by 120 per cent to Rs 2548.8 million over 2004 in nine projects.

The share of West Bengal was 3.23 per cent of the total FDI inflow into India. There has been overall interest to make West Bengal an investment destination since the last few years.