In last 4 years only 18 companies worth about Rs 2,000 cr got going in state

Truth about manufacturing sector
Report by: 
Sabyasachi Bandopadhyay
12 Jun 2017

At a time when the state government is claiming vigorously that investments worth thousands of crores of rupees are coming to the state, a reality check by Echo of India in the manufacturing sector which is the main source of employment generation, has revealed a pathetic picture of the industrial scene.

According to information available with this paper, in the manufacturing sector since September 1, 2013 only 18 companies have got Registration Certificate (RC) 1 regarded to be the first step for setting up industries here. The 18 companies had a proposed investment of about just Rs 1,500 crore. And during these four years only one company in the manufacturing  industry,  OCL cement factory, has got Registration Certificate II, the situation when a company starts production,  after a company gets RC I it becomes eligible for getting incentives from the state government. And it is after a company gets incentive that it gets RC II.

The OCL factory which produces the company's trademark product Konark cement was set up on 154.43 acres of land with an investment of Rs 615 crore at Salboni in West Midnapore district. It may be mentioned here that after the 3rd edition of Global Business Summit held in Kolkata early this year the government announced it had received investment proposals worth Rs 2.5 lakh crore. After the completion of the earlier two editions too, the state government announced that it had received investment proposals worth more than one Rs 1 lakh crore.

``Whatever investments we are getting are all in small and medium sector. But the stark and painful fact is that we are getting a paltry investment in the manufacturing sector. It does not bode well for the youth of the state as without the manufacturing sector employment opportunities in bulk cannot be created,'' an official of the state government told Echo of India.