Eastern Region Committee Meeting
AmCham India and its Eastern Region supported the Government of West Bengal to attract U.S. investors to do business in the state. As a prelude, AmCham had jointly organized a road show for the West Bengal government in New Delhi also. There were 27 countries who participated in the third edition of the Bengal Global Business Summit. Some of the countries who attended were China, Russia, Japan, Korea, Singapore, United Kingdom, Germany, France and Italy. Political dignitaries and business leaders from India and around the world attended the summit in Kolkata from 19th – 21st January.
On 19th January, the Honorable Chief Minister Mamta Banerjee hosted a dinner for delegates, chambers of commerce, industry, diplomats and government at Eco Park. This gave the guests the opportunity for networking and to have informal discussions. At the dinner, members of chambers including AmCham members, and Director General CEO Ranjana Khanna, got the opportunity to meet with the Chief Minister and Finance Minister and network amongst a host of government officials and foreign delegates.
On 20th January, at the inaugural session the President of India, the Honorable Mr. Pranab Mukherjee, was the Chief Guest. In his inaugural address, the President said that the strength of India lies in its cooperative federalism. India is a conglomeration of states and initiatives like the Global Business Summit aimed at achieving growth and prosperity. Day one of the summit saw business proposals of Rs. 30,000 crore into the state. A dinner was also hosted by FICCI for the foreign delegates and special invitees to enable them to have a platform for informal networking. The Honorable Minister Finance of West Bengal was the Chief Guest and in his address, while thanking the various chambers and delegates for supporting the BGBS 2017, acknowledge the presence of Ms. Ranjana Khanna, Director General CEO, AmCham India, for attending the summit and said he looked forward to further strengthening its relationship and working with AmCham.
Amongst the various investment announcements, Mr. Purnendu Chatterjee CEO of TCG, the largest American company which has investment in West Bengal, as well as ownership control of Haldia Petrochemicals and MCC PTA India, said that his group would invest around Rs. 1,000 crore over a sixteen month period.
On 21st January, the final day of the summit, some of the biggest investment proposals were made. Some of the proposals were (in Rs./crore) a total of 2.35 lakhs.):
- TEB Technology China and Texmaco in mass rapid transport system — 27,200
- Extension of Metro Railway – 235,960
- Howrah MSE hub – 18,000
- Tajpur port and port-led infrastructure – 12,000
- RPG Group – 10,000
- Ambuja theme-based township – 10,000
- Truck terminal at Rajarhat – 10,000
- Gail gas pipeline – 3,000
The final day session concluded with an announcement by Dr. Frank-Jurgen Richter, Chairman of Horasis, an independent international organization that hosts annual meetings globally, on the critical challenges faced by corporations, who said that he would organize a conference to be held in Kolkata in November 2017. This will be the first time that a Horasis conference will be held in India. The Horasis Asia summit is Asia’s World Economic Forum and around 450-500 top of the line CEO’s come for the event.