West Bengal GoM Approves Draft Industrial Policy, MSMEs And AI Among Key Focus Areas

Kolkata, Oct 3 (KNN) West Bengal’s proposed new industrial policy has cleared a key procedural step after the Group of Ministers (GoM) approved its draft, paving the way for consideration by the state Cabinet. 

The policy is aimed at attracting investment, strengthening micro, small and medium enterprises (MSMEs) and promoting emerging sectors such as artificial intelligence (AI), semiconductors and data centres.

Draft to Undergo Chief Secretary’s Vetting

The draft was approved on Thursday at a GoM meeting chaired by state industry minister Tapas Roy at Nabanna, with state finance minister Swapan Dasgupta and other members in attendance.

It will now be vetted by the chief secretary before being placed before the state Cabinet, which is expected to meet next week. The policy will take effect only after Cabinet approval.

The state government plans to unveil the policy before Durga Puja. The GoM’s approval brings it closer to release, but it is not yet operational.

Special Incentives and MSME Dues Under Consideration

According to industry department sources cited by the Times of India, the proposed policy may offer special incentives to companies registered in West Bengal.

The government is also expected to restore outstanding incentives withdrawn by the previous government in installments. The dues are estimated at over Rs 10,000 crore, with MSMEs likely to be prioritised for repayment.

MSMEs at the Centre of Industrial Strategy

MSMEs are at the core of the proposed industrial strategy, with the draft expected to outline a roadmap for their growth. AI, semiconductors and data centres have also been identified as emerging focus sectors alongside traditional industries.

The policy would provide a framework for MSME expansion, recognising the sector as a key pillar of the state’s industrial base. The strategy combines support for existing enterprises with efforts to attract investment in technology-intensive sectors.

Its effectiveness will also depend on factors beyond financial incentives, including land availability, infrastructure, regulatory approvals and administrative processes. Industrial land has emerged as a key issue in discussions on attracting investment to the state.

Final Incentive Structure Yet to Be Detailed

The GoM’s decision follows consultations with the state government, industry bodies and business representatives. However, details on the final incentive structure, eligibility criteria, implementation timeline and funding remain pending.

These are expected to be clarified after the chief secretary’s vetting and Cabinet approval. Until then, the proposed incentives, repayment plans and sector-specific measures remain part of the draft and are not operational.

(KNN Bureau)