West Bengal unveils industry push as Mitsubishi eyes chip unit

Kolkata: Japanese conglomerate Mitsubishi has expressed willingness to set up a semiconductor unit in West Bengal, the state’s minister of industry, commerce and enterprise Tapas Roy said.

A delegation of Mitsubishi executives on Wednesday held a meeting with Bengal finance minister Swapan Das Gupta, chief advisor Subrata Gupta, Roy as well as senior government officials at the state secretariat. The delegation communicated the willingness on the semiconductor project during the meeting, Roy said.

“The land could be given at designated plots in Durgapur or Panagarh. Officials from the Japanese company will come again during the end of this month and the land will be shown to them,” Roy said.


“The investment would be done in phases. However, the exact amount of investment is yet to be ascertained,” Roy told ET.

The proposal is at a preliminary level, Das Gupta said. “We will show them the land. They are exploring opportunities in Bengal in the semiconductor sector," he told ET. The Japanese multinational was once present in Bengal’s Haldia, but had exited the state, he added.

Industrial policy

Roy said the West Bengal government is readying its draft industrial policy.

"Revenue mobilisation will be central to industrial policy,” Roy said, adding that the state government will focus on modernisation of traditional industries like jute and tea and also encourage new industries such as semiconductors and artificial intelligence.

The primary objective of the new government is to make the state a “preferred investment destination” in eastern India, he said.

“The state government invites the industry to partner in the growth process," Roy said addressing an event on ‘How to unleash Growth Potential of Bengal’s Economy”, organised by the Merchant Chamber of Commerce and Industry (MCCI).

Roy emphasised on creating a “business-friendly” environment which will be conducive for investments.

Speaking about the draft industrial policy, Roy said the details are being worked out. "We need to offer industrial incentives (that are comparable to) those being given by other states” to compete with them, said.

“There is a need for industrial regeneration in West Bengal to create employment opportunities for the youth and revive the past glory of West Bengal. The vision is to project the state as a major industrial hub,” he said

“The new government is also committed to promote the startup ecosystem in the state, with a focus on AI, data centres and global capability centres,” the minister said. He also said the government will identify profitable state PSUs for listing on stock exchanges.

“The relationship between the industry and the government will be like partners in progress. The government will also focus on promoting industrial clusters, industrial corridors and strengthening of the single-window system for industrial clearances,” he said.

The business fraternity will be protected from extortion and syndicates, the minister assured.

MCCI president Priti A Sureka expressed hope that the new government would make Bengal a beacon of industrialisation. “Electricity tariffs need to be rationalised,” she said