During the 'India at 100' event by Business Today, West Bengal Finance Minister Swapnan Dasgupta discussed the current economic situation, industrial challenges, and future prospects of the state. He acknowledged that the region has faced a continuous decline over the past five decades but expressed confidence that Bengal's pride can be restored with the right mindset and policies.
Expressing concern over the continuous migration of youth and talent from West Bengal, he noted that while talented individuals make their names globally, they do not remain in their home state. He pointed out that Kolkata has turned into a city of retirees, and the youth have moved to places like Bangalore, Gurugram, Noida, or abroad, and it seems they will not return.
Dasgupta also commented on the common belief that Bengalis dislike business, stating that this view needs to change. Citing Tata's exit from Singur, he asked, 'If Tata cannot conduct business in West Bengal, who are we to decide anything?'
Swapnan Das raised questions regarding the attitude of the state's intellectual class, noting that for a long time, the entrepreneurial thinking of the region was suppressed. He insisted on the need to eliminate the atmosphere of disappointment and raise the public's expectations. He mentioned a group of people who claim that the worst thing that happened to West Bengal is the aversion from so-called intellectuals.
According to him, the energy and ideas of the business community have been restrained for a long time, but now they are striving to demonstrate their creativity.
Considering land as the biggest obstacle to industry in the state, Swapnan Das specified that a practical strategy regarding land reform and land availability must be adopted. He emphasized that land will always be a serious issue in Bengal due to small plot sizes and a complex system of property rights.
In Swapnan Das's opinion, areas such as Bankura, Purulia, and Jhargram should be considered for large projects, where necessary land may be available. Furthermore, a new industrial belt is developing along the Kalyani expressway to give new dynamism to the state's industrial activity, while efforts continue to revive the traditional industrial center of Durgapur-Asansol.
Referencing Bengal's strong educational and cultural base, Swapnan Das highlighted that the state can achieve significant recovery in the manufacturing, service, and particularly deep technology sectors. He noted that there are institutions that have achieved outstanding success in semiconductors or quantum technologies. Although the term 'data centers' is used easily, it is important to consider the vast amount of water and electricity required for their operation.
The ultimate goal, according to Swapnan Das, is to achieve the highest growth rate in India. He rejected the possibility of instant miracles, stating that changes must be demonstrated and proven. He expressed hope that if West Bengal achieves the highest growth rate in India within the next four years, the state's historical pride and confidence will fully return.