Arun Jaitely, Nitin Gadkari, star speakers at Bengal investors' summit

Major corporates are likely to give the event a miss

Bengal Global Business Summit, the fourth edition of Mamata Banerje-government's annual investors meet, may be more publicised nationally this time than previous occasions; but the who's who from India Inc is likely to give it a miss, yet again.

The ultimate irony is, however, that despite the ongoing political fight with the Centre over various issues, the state government's showcase business event would have two key union ministers Arun Jaitley, Nitin Gadkari, who happen to be the star speakers.

Although Tata Group chairman Cyrus Mistry, Reliance Industries chairman Mukesh Ambani and were among the invitees, they were unlikely to come down. Sajjan Jindal, also an invitee, had prior commitments and hence was not participating.

Among the business leaders--apart from city-based industrialists like CESC chairman Sanjiv Goenka, Ambuja-Neotia group chairman Harsh Neotia, Keventer group chairman MK Jalan—from outside Bengal, Godrej group chairman Adi Godrej, Videocon Industries CMD Venugopal Dhoot, have confirmed participation.

Global business leaders like Mitshubishi Cehemical CEO Hiroaki Ishizuka and CEO of Changi International Lim (CAI) Liang Song are also likely to be present at the summit.

The Haldia-based arm of the Japanese giant Mitsubishi Chemicals Corporation has been the recipient of the highest FDI in West Bengal and has a PTA manufacturing facility in Haldia, while Changi is a majority stake holder in the upcoming Durgapur airport-city project. Delegates from 20 countries were expected to participate in the summit.

Besides, representatives from all national business chambers — CII, FICCI and Assocham — would also participate in the event apart from presidents of local business bodies like Bengal Chamber of Commerce and Industry (BCCI) and Bengal National Chamber of Commerce Industry(BNCCI), Merchants' Chamber, Indian Chamber of Commerce (ICC) and Bharat Chamber of Commerce.

Mitra had held roadshows in Mumbai and Delhi over the past few months to draw in top business leaders. Recently in Mumbai, Mitra had said that the country's bid corporate houses would attend the Bengal Global Business Summit. The turnout was supposed to be an endorsement of the state government's policies.

Industry representatives, however, said that the policy on land acquisition and trade unionism was keeping investors away from Bengal. As an electoral pledge, the Mamata Banerjee government has steered clear from facilitating land acquisition. Further, the return of militant trade unionism is haunting local industry. The challenging backdrop may have cast its shadow on the Bengal Global Business Summit.