West Bengal to host ‘Business and Industry' Conclave: Event likely later this year; things to know
Mamata Banerjee
, announced on Tuesday.
The initiative is being viewed as a push to accelerate industrialisation in the state.
Mitra said the conclave would be organised after the Puja festivities to give further momentum to West Bengal's industrial development.
'There will be a Business and Industry conclave after the Pujas. To take this conclave forward, the state-level investment and synergy committee has been tasked to prepare the roadmap for the conclave,' said Mitra, who is also the former finance minister of the state.
He said that the decision was taken at a meeting chaired by Banerjee, which was also attended by chief secretary Manoj Pant and other senior officials.
This year, Durga Puja will be celebrated in the last week of September, while Diwali falls in the third week of October.
According to Mitra, the roadmap for the conclave will focus on factors such as growth potential, employment intensity, export prospects, the state's national advantage and revenue generation.
He added that after the Bengal Global Business Summit (BGBS), a key development was the formation of the state-level investment and synergy committee to create a single-point interface for industrial proposals.
'The committee, chaired by the chief secretary, meets twice a month. In the last three months, it has cleared proposals to establish 3,165 projects,' Mitra said.
These projects span a range of sectors, including real estate, information technology, food processing and tourism, according to a source in the state secretariat.
While the total potential investment in these projects has not yet been revealed, Mitra said the figures are quite significant.
He also confirmed that the Bengal Global Business Summit will continue as usual next year.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
a day ago
- Time of India
9.4cr tender to raze and rebuild Kavi Subhash, Rly Board team visits station
1 2 Kolkata: Metro Railway floated an e-tender of Rs 9.4 crore for razing and rebuilding the Dakshineswar-bound (Up) platform of Kavi Subhash Metro station. The meagre-amount tender, sources said, is only one of the many that will be floated to execute the project of rebuilding the terminal station of the North-South (Blue) line. Since only the Railway Board is empowered to sanction railway expenditures exceeding Rs 10 crore, officials from the Board in Delhi inspected the station in New Garia on Thursday to assess the damage. "The visit was necessary before estimating and allotting funds for the entire project of dismantling and rebuilding the station," an official said, indicating that multiple contractors will be engaged for comprehensive restoration of the damaged station. Therefore, more bids will follow. Passenger services to New Garia station were indefinitely suspended on Monday after wide cracks were spotted in the columns of the Up platform, which was undergoing subsidence for several months. Metro Railway had planned to start the repair work after this Pujas. When things started looking precariously unsafe, the authorities decided to close the terminal station and run truncated services of the Blue Line from Dakshineswar (north) to the second last station in the south — Shahid Khudiram. Sources then told TOI that the entire station must be rebuilt before it is declared safe for passenger services. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata The e-tender floated by Metro Railway mentions "rehabilitation of platform and shed of Kavi Subhash station, including dismantling of the platform shed and refixing it after reconstruction of columns, platform and allied works". The bids will open on Aug 5 and close on Aug 19. The contractor must complete the work in nine months. Meanwhile, the initial job — dismantling the platform shed (covering both Up and Down (New Garia-bound) platforms) — is already underway. Sources said local contractors have been deployed for the job and the "nomination" tender for it has been floated for a "token" amount. Officials said at the local level, the spending limit is Rs 10 crore. Therefore, the estimated cost for the preliminary work is Rs 9.4 crore, well within the permissible limit. Hours after the work to remove the platform sheet started, Metro Railway on Wednesday issued a statement quoting the scope of work in the e-tender, saying it targets to complete the dismantling and construction of the Up platform with its columns in nine months, based on recommendations by railway consultancy firm RITES. Sources said this was the first and preliminary stage of the entire project. "The authorities have set the restoration work rolling. The project would involve several stages and meticulous planning. Even if there is tremendous pressure to reopen the station, the restoration cannot be a hurried job, again, for the sake of passenger safety," said an official.
&w=3840&q=100)
Business Standard
2 days ago
- Business Standard
Indian importers ramping up oil purchases ahead of festival season: IVPA
Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides "a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. The organised sector will not have any issue in implementing it unlike the unorganised sector. "Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. Edible oil imports declined by nearly one lakh tonnes over the past six months but are expected to recover in the next six months. "Overall edible oil imports would be more or less the same as last year," he said. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is "very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. "Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. "It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline.
Time of India
2 days ago
- Time of India
Indian importers ramp up palm oil purchases ahead of festival season
Indian vegetable oil importers are ramping up palm oil purchases ahead of the festival season as declining global prices make it cost-effective to meet expected demand surge during the festive period, according to the Indian Vegetable Oil Producers' Association (IVPA). The recent reduction in import duty on crude edible oils to 10 per cent, from 20 per cent, provides "a little bit of relief" for consumers, though prices would have been higher otherwise, IVPA President Sudhakar Desai told PTI in an interview. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Leadership Management Degree CXO PGDM Data Science Healthcare Design Thinking MBA healthcare Finance MCA Operations Management Data Science others Product Management Artificial Intelligence Others Digital Marketing Cybersecurity Data Analytics Public Policy Technology Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details The duty cut was reflected in loose oils within two days but it takes up to 25 days to reflect in packaged oils, he said, and added the IVPA welcomes the government's soon-to-be-notified new regulations on the vegetable oil sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After 35 Years, Her Jewelry Is Nearly Gone The Heritage Journal Read More Undo The organised sector will not have any issue in implementing it unlike the unorganised sector. "Preparations have already started. We see good imports in July. People are buying ahead of festival time. The pipeline was dry in the previous three months and is now filling up due to festival demand," Desai said. Live Events With Durga Puja and other major festivals approaching in early September, edible oil consumption typically spikes as households increase cooking and sweet preparation, making affordable palm oil imports crucial for the domestic market. Edible oil imports declined by nearly one lakh tonnes over the past six months but are expected to recover in the next six months. "Overall edible oil imports would be more or less the same as last year," he said. India imported 16 million tonnes during the 2023-24 oil-year ending October. When asked how the HoReCa sector, (Hotel, Restaurant, and Catering), and brands like Parle which shifted to rice bran oil during high palm oil prices are now adapting to facilitate the shift back to palm oil with prices ruling lower, Desai said, it is "very easy to go back to palm oil," highlighting the commodity's renewed cost competitiveness as alternative oil prices remain elevated. The IVPA is working to stabilise India's import supply amid challenges from Indonesia's biodiesel mandates and other factors causing volatility in global palm oil prices. Biofuel production has become a major factor influencing edible oil pricing globally, with 21 per cent of global production now diverted toward biofuel uses across top producing countries including the US, Brazil and Indonesia. Indonesia's potential B50 biodiesel mandate could consume an additional 15-16 million tonnes of palm oil annually for fuel production, further tightening food supplies. "Biofuel size keeps governing the prices," Desai noted, emphasising how policy decisions in producing countries directly impact India's import costs. India, which imports about half its edible oil requirements, remains vulnerable to supply disruptions from major palm oil exporters. To reduce import dependency, the country is pushing to expand domestic palm oil cultivation to one million hectares by 2025-26 from current levels. The IVPA has been supporting this initiative through partnerships with international seed suppliers and plantation companies over the past 3-4 years. The association is working with state governments in Telangana, Andhra Pradesh and northeastern states to ensure success of government oil palm missions. "It is on the right path, maybe it will take six years," Desai said about the domestic cultivation expansion timeline.
