The 7th Bengal Global Business Summit opens in Kolkata, India today.
The two-day summit is hosted by the West Bengal government and aims at attracting foreign investors to boost the Indian state’s industries. The summit targets international businesses in a variety of sectors, including tourism, healthcare, manufacturing, logistics, IT and infrastructure. Delegates and business leaders from countries such as the US, Japan, South Korea, France, and the UK are expected to attend. The UK is notably expected to send its largest-ever delegation to this year’s summit.
West Bengal, one of India’s most populous states, has emerged as an economic powerhouse and major driver of national economic growth. However, West Bengal has also been plagued by recurring political violence, which has been cause for concern to international investors.
The state government will hope to convince companies of solid investment opportunities in West Bengal across sectors. The state’s impressive economic growth is likely to continue in the coming years due to Kolkata’s status as a financial and business hub. In addition, many international companies are shifting investment away from China, with India being one of the main beneficiaries. Nonetheless, political violence is a recurring problem that is likely to persist and could further dampen the state’s economic growth potential.
David is a Senior Analyst focusing on East Asia. He primarily writes on economic, political, and social issues and how they relate to the geopolitical environment.