Vedanta explores Rs 80,000 crore investment in West Bengal, says Anil Agarwal

Kolkata: Vedanta Group chairman Anil Agarwal said on Wednesday that the group is exploring investment opportunities worth Rs 70,000-80,000 crore in West Bengal in sectors ranging from power to an aluminium smelter, subject to feasibility.

“Agarwal told me that he wants to invest in Bengal. He will set up a factory in Paschim Bardhaman’s Asansol. They have plans which will generate direct employment opportunities for 10,000 people. There could be indirect employment opportunities also,” Chief Minister Suvendu Adhikari said on Wednesday after holding a meeting with Agarwal at the state secretariat, Nabanna.

“I assured the group of full cooperation from West Bengal in making investments in the state,” he said. He said Agarwal had informed him that although he is based in London, he has investments in multiple states in India.


Vedanta Group has around 300 acres in the Asansol area, which could be examined for the project, though additional land may be required.

Meanwhile, ahead of the meeting, Agarwal, on the sidelines of an Indian Chamber of Commerce (ICC) event, expressed confidence in the state's new double-engine government, industrial potential and business environment.

Agarwal expressed hope for Bengal’s future, as the state has huge intellectual talent and potential. “West Bengal was the biggest industrial hub. There is no better place because we have everything here,” he said.

On Vedanta's growth plans, Agarwal said the company was targeting revenue of $50 billion and profit of $20 billion over the next two years.

Commenting on India's growth prospects amid global economic uncertainties and volatile commodity markets, Agarwal said the country's domestic demand and development trajectory offered significant opportunities for businesses.

“We need all our natural resources. We can’t depend on imports. We have to have our own,” he added.

“India must accelerate mineral exploration, strengthen domestic manufacturing and encourage greater entrepreneurial participation in mining and downstream industries to reduce import dependence and emerge as a global manufacturing powerhouse,” Agarwal said. He also spoke about Bengal’s rich entrepreneurial legacy and the need to unlock the state’s industrial and economic potential.

The session was hosted and moderated by ICC president Parthiv Neotia, who is managing director of Ambuja Neotia Healthcare.

Rajeev Singh, Director General of ICC, reflected on Agarwal’s remarkable entrepreneurial journey.

“From leaving home at the age of 19 with just a tiffin box and Rs 10 in his pocket to building the $35 billion Vedanta Group, Agarwal's journey is a remarkable story of perseverance and success. His achievements continue to motivate budding entrepreneurs, while his philanthropic commitments reflect his belief that wealth creation should benefit society and the nation,” Dr Singh said.

Agarwal made a strong case for unlocking India’s mineral wealth and developing a robust ecosystem of downstream manufacturing industries capable of generating employment, encouraging investment and strengthening the country’s industrial self-reliance.