West Bengal, with a total geographical area of 88,752 sq km, is located at the centre of the eastern region of India. It is bordered by Bihar and Jharkhand on the west; Odisha on the south; and Sikkim on the north. It is strategically positioned with three international frontiers, such as, Bangladesh in the east; Nepal in the west; and Bhutan in the north-east side. The land frontier of West Bengal stretches for about 700 Km, from the Bay of Bengal in the south to the mighty Himalayas in the north.
West Bengal is one of the most culturally and ethnically diverse States of India. It has a large pool of talented and skilled human resources, with forward-looking academic and technology learning centres. West Bengal, being an agrarian State, offers tremendous potential for agri-business, with fertile soil, excellent agro-climatic zones and aggressive land reform programmes. The substantial growth in the agricultural sector provides the necessary base for accelerated industrial development in the State. Besides, advantages like stable political situation, dedicated cooperation of the investors, establishment of world class financial institutions and harmonious labour relations, provide the necessary climate, strength and confidence in the process of promoting industrial development in the State.
Being the fourth largest growing State in India, West Bengal is the second largest recipient of investment in the country. It has been receiving a number of investments in the iron and steel, chemicals, plastic, information technology and biotechnology sector. Of these, the tremendous potential for investment opportunities exists in the information technology and tourism sectors, which have huge employment and export avenues. Besides, the State has achieved significant improvements in the urban infrastructure scenario with reference to water supply, sanitation, education, health, restructuring connectivity, real estate, etc. It has proper transportation system; efficient and high quality power at competitive rates; and sound telecom network.
Hence, West Bengal has emerged as a prime investment destination in India, with a large number of foreign investments at Howrah and Kolkata. Haldia is set to be the next petrochemical hub. The steel city of Durgapur and the belts of Asansol are gaining popularity as a ferro alloy hub. The State Government has been undertaking several policy measures and incentives for the overall socio-economic development of the economy.
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