The Bengal Global Business Summit (BGBS) 2025 concluded with significant enthusiasm and commitments, as West Bengal Chief Minister Mamata Banerjee announced investment proposals amounting to ₹4.4 lakh crore. The event, held over two days, witnessed the signing of 212 memoranda of understandings (MoUs) and letters of intent, indicating the state’s growing potential as a hub for investment.
Banerjee described the summit as a "remarkable success" and expressed her satisfaction with the substantial number of proposals received. "We have received investment proposals amounting to ₹4,40,595 crore during the two-day event. These will create thousands of job opportunities in West Bengal," she stated, reinforcing her government’s commitment to economic growth.
The summit attracted over 5,000 investor delegates and was marked by significant pledges from industrial titans such as Mukesh Ambani, the chairman and managing director of Reliance Industries. During the inaugural session, Ambani unveiled plans to double the company’s investments from ₹50,000 crore to ₹1 lakh crore by the end of the decade, which he highlighted as part of the company's broader commitment to the region. “Today, in less than a decade, our investments in Bengal have increased 20 times, and we have invested over ₹50,000 crore. Mamat Didi, we will double this investment by the end of this decade. Our investments have created over one lakh direct jobs,” he declared.
Sajjan Jindal, chairman of the JSW Group, announced plans for substantial investments too, including ₹16,000 crore earmarked for a 1,600 MW power plant at Salboni and interest in developing the Andal airport project. Another prominent commitment came from the RPSG Group, which pledged ₹10,000 crore, and the Ambuja Neotia Group with plans of ₹15,000 crore over the next five years.
Banerjee also highlighted the successful oil exploration project at Ashok Nagar, facilitated by the Oil and Natural Gas Corporation (ONGC). “We have allocated 15 acres of land at ₹1 to ONGC at Ashoknagar. They have successfully discovered oil and gas, which will be exploited commercially. We are supporting ONGC and will give them a petroleum mining lease,” she explained, emphasizing this move as pivotal for positioning Bengal on India's petroleum map.
The event also saw participation from around 20 partner countries and was attended by notable figures such as Hemant Soren, chief minister of Jharkhand, and high-profile businessmen who discussed potential collaborations and projects. Banerjee commented on the collaborative culture of the summit, saying, "We don’t divide people; we unite people. All festivals are our festivals. Bengal is the cultural capital of India; we must not forget this.”
While the summit was celebrated by many, it was not without its detractors. Opposition leaders from the Bhartiya Janata Party (BJP) and the Communist Party of India (Marxist) criticized the event, labeling it as merely superficial and lacking substance. Leader of Opposition and BJP MLA Suvendu Adhikari remarked, "BGBS is all about signing fake MOUs and vague Expressions of Interest & issuing Letters of Intent," dismissing the proposals as little more than theatrical performances.
Md. Salim, West Bengal State Secretary of CPI(M), echoed this sentiment, asserting, “Companies come and praise themselves. The business, investment figures, and MoUs they share have no realization on ground.” These statements point to broader concerns about the actual implementation of projects and the efficacy of governmental promises to drive investment and growth.
Despite the opposition's skepticism, Banerjee emphasized her government’s achievements since 2011, asserting her administration has lifted 1.72 crore individuals above the poverty line through sustained focus on infrastructure, industry, and social welfare. "Our continued focus has yielded results," she claimed, reflecting on the transformative impact of investment and development initiatives.
With ambitious declarations and stark contrasts in opinions, the Bengal Global Business Summit 2025 paints a picture of potential and promise, juxtaposed with skepticism and political critique. This dual narrative will likely continue as West Bengal, under the leadership of Chief Minister Mamata Banerjee, navigates the complex landscapes of investment, economic recovery, and public expectation.