Narendra Modi's ministers assure full support to Mamata Banerjee's investment drive

KOLKATA: Union finance minister Arun Jaitley on Friday promised all help to chief minister Mamata Banerjee's policy initiatives to further industrial growth in Bengal.

The Centre's backing and a word of praise from Reliance Industries Ltd chairman Mukesh Ambani came as a boost to Banerjee, who made a fervent appeal to investors.

"You should be the employer, and I will be the employee," she said. "We have the infrastructure ready. Whenever you face a problem contact us. I will sort it out in a second."

Other ministers of the Narendra Modi government - Suresh Prabhu and Piyush Goyal - were also all praise for Banerjee, hinting at a symbiotic relationship with the Trinamool government setting aside political differences.

"The Centre will work hand in hand with Bengal to ensure that investment comes to the state and the eastern region grows at a faster clip. A stronger Bengal means a stronger India," Jaitley said at the inauguration of the Bengal Global Business Summit.

While Bengal contributes 6-7% of India's GDP, Jaitley felt it could add 1-1.5% to India's economic growth. Invited to the investment meet for the second year in a row, Jaitley said such events demonstrate a clear intention for a break from the past and a realisation that economy will work only if large businesses come to the state.

"Bengal was once the country's industrial hub. Kolkata was ahead of Mumbai. Policies of the past adversely impacted that... If you are not in a position to attract investment, you will be destined to a course that happened in Bengal for three-and-a-half decade," he said.

Banerjee had earlier rattled off impressive statistics on economic parameters that set Bengal several notches above the national average.

"By investing in Bengal, you will not only get Bengal's business but also that of the Northeast, Bihar, Jharkhand, Odisha, Bangladesh, Nepal, Bhutan and even Myanmar, Thailand and Singapore," she said. Bhutan PM Tshering Tobgay and Bangladesh commerce minister Tofail Ahmed also endorsed the view.