West Bengal is the sixth largest state of India in economic size with a GSDP of INR14.44 lakh crore (US$206.64 billion) in 2020-21 and has also been rapidly growing in all sectors of its economy. West Bengal’s GDP has been growing at an average of 12.6% between 2015-16 and 2020-21 – faster than the national average. Several conducive factors – plentiful natural resources, multi-modal domestic and international connectivity, a large pool of skilled workers, high quality workmanship, proximity to mineral-rich zones, and low operating costs – have all contributed to West Bengal’s growth story and strengthened its position as a gateway to Eastern and North-Eastern India and to South-East Asia. As on 2020-21, over 75% of the West Bengal GVA comes from the secondary sector (industries & manufacturing) and the tertiary sector (services, transport, trade, communications etc.), highlighting the progress the State has made towards creating wealth and employment for its people.
The narrative of West Bengal’s economic growth is often told in terms of MSMEs – the State is home to India’s second highest number of MSMEs and indeed accounts for 14% of India’s total MSMEs. These enterprises play a vital role in Bengal’s economy, contributing to production, exports and employment and leading the economic growth of the State.
Besides MSMEs, one needs to recognize the many large industries of the State that have helped anchor development wherever they have been set up. West Bengal is home to top companies from a wide range of sectors, including iron and steel, tea, leather, jute, FMCG, metals and minerals, cement, textiles and apparels, logistics, chemicals, rubber, gems and jewellery, pharma, plastics, and petroleum, to name a few. Today, international companies and domestic industrial leaders have a strong presence in West Bengal.
The transformation of a state from a spot on a map to a place people ultimately want to invest in, to live in, to visit, and to buy goods and services from depends on the momentum of the domestic and external dynamics the state exhibits. This transformation in West Bengal has occurred in the last decade over a wide range, allowing for the emergence of new areas of growth and opportunity.
Source: https://bengalglobalsummit.com/pdf/industries-in-bengal.pdf