This refers to the report "Mamata rolls out red carpet to India Inc" (August 2). One should appreciate Banerjee's energy and enthusiasm in building partnerships and to do away with the notion that West Bengal is a laggard in investment.
The present investment scenario in the state is quite gloomy. The chief minister need not be upbeat about the feelers from corporate heads of Mumbai to set up industries in the state, rather she needs to address the root causes that have been plaguing the industrial climate by freeing industry from the extortion of local party bosses and by bringing about a better work culture. She has to categorically specify the land ceiling policy, special economic zones, good governance, foreign direct investment and delivery system of the government.
One more glaring effort at industrial rejuvenation in the state is that the Calcutta Stock Exchange - which is one of the oldest capital market institutions and has been an integral part of Kolkata's history- is currently waiting for its death knell. The Trinamool Congress while releasing its manifesto promised to revive the century old exchange, but there is no sign of intervention in salvaging this institution.
After being in power for two years, the realisation seems to have dawned on Banerjee that industrial development is essential for progress. While replying to business barons on the question of militant trade unionism her remark that "things are not that bad" was a gross understatement.
The then Chief Minister Jyoti Basu went to the US to woo business and so many memorandums of understanding were signed but not implemented.
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The present investment scenario in the state is quite gloomy. The chief minister need not be upbeat about the feelers from corporate heads of Mumbai to set up industries in the state, rather she needs to address the root causes that have been plaguing the industrial climate by freeing industry from the extortion of local party bosses and by bringing about a better work culture. She has to categorically specify the land ceiling policy, special economic zones, good governance, foreign direct investment and delivery system of the government.
One more glaring effort at industrial rejuvenation in the state is that the Calcutta Stock Exchange - which is one of the oldest capital market institutions and has been an integral part of Kolkata's history- is currently waiting for its death knell. The Trinamool Congress while releasing its manifesto promised to revive the century old exchange, but there is no sign of intervention in salvaging this institution.
After being in power for two years, the realisation seems to have dawned on Banerjee that industrial development is essential for progress. While replying to business barons on the question of militant trade unionism her remark that "things are not that bad" was a gross understatement.
The then Chief Minister Jyoti Basu went to the US to woo business and so many memorandums of understanding were signed but not implemented.
Sankar Lal Singh Kolkata
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number