West Bengal’s new industrial policy has cleared a key hurdle after a group of ministers approved its final draft, setting the stage for cabinet consideration and a planned push to attract investment, support MSMEs and develop sectors such as artificial intelligence, semiconductors and data centres.
The draft was approved on Thursday at a meeting of the group of ministers convened at Nabanna under the chairmanship of state industry minister Tapas Roy. State finance minister Swapan Dasgupta and other members attended the meeting. The policy will now be sent to the chief secretary for vetting before being placed before the state cabinet for final approval.
A senior Nabanna official said the cabinet meeting is scheduled for next week and that the policy will come into effect only after the cabinet gives its approval. The government has also indicated that the industrial policy will be unveiled before Durga Puja, meaning the GoM decision brings the draft closer to public release but does not yet make it operational.
According to industry department sources cited by the Times of India, the policy will offer special incentives to companies with registered offices in Bengal. The state government is also expected to pay outstanding incentives that were revoked by the previous government in instalments. These dues are believed to exceed Rs 10,000 crore, with micro, small and medium enterprises expected to receive priority in the payment process.
The draft places MSMEs at the centre of the state’s industrial strategy while also identifying AI, semiconductors and data centres as focus areas alongside traditional industries. An official said the policy would include a roadmap for MSME growth, describing the sector as the foundation of industry. The proposed approach therefore combines support for existing enterprises with an attempt to attract newer technology-led investment.
The policy’s implementation will depend on more than incentives. Industrial investment requires land, approvals, infrastructure and predictable administrative processes, making the state’s handling of industrial land an important part of the policy’s eventual impact. The issue surfaced during a visit by state BJP president Samik Bhattacharya to the Regent Garment and Apparel Park at Barasat.
Bhattacharya said investors setting up industries would not face extortion or political interference under the new government. He also said about 34 bighas of land at the park, developed by RDB Group, had become vested because of a land-ceiling issue during the previous government’s tenure. According to him, work on the related land-ceiling policy was underway and he would discuss the matter with the commerce, industry and enterprise minister and the finance minister to facilitate recovery of the land.
The government’s consultations with industry bodies and sections of the business community preceded the GoM’s approval of the draft. However, the supplied details do not yet establish the final incentive structure, eligibility rules, implementation timetable or funding mechanism. Those elements will become clearer only after the chief secretary’s vetting and the cabinet’s decision.
The immediate next step is the cabinet meeting expected next week. Until that approval is granted, the industrial policy remains a draft and the proposed incentives, repayment schedule and sectoral priorities are not yet in force.
