West Bengal Government Establishes Investment Synergy Committee to Improve Ease of Doing Business

The West Bengal government has established an investment synergy committee to accelerate project proposals and enhance business operations in the state. This decision follows Chief Minister Mamata Banerjee's announcement at the Bengal Global Business Summit about forming a panel to improve business facilitation. The State-Level Investment Synergy Committee (SLISC), led by the chief secretary, will function as a single-window clearance system for investment proposals.

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The SLISC aims to simplify the process of obtaining necessary clearances and approvals for industrial projects and other investments. It will include heads of 19 departments such as industry, commerce, environment, finance, labour, and urban development. The chief secretary may also involve other department heads if needed. The committee's primary goal is to provide a centralised platform for all investment proposals and business-related services.

Streamlining Approvals and Monitoring

Approvals are expected to be granted within a month, aiming to eliminate bottlenecks and support sectors like manufacturing, IT/ITES, healthcare, real estate, and services. The committee will enable real-time monitoring, introduce an online grievance redressal system, and integrate data across platforms. Meetings will occur every two weeks to review pending applications and address issues promptly.

Entrepreneurs and investors can present their projects during these meetings for immediate query resolution. Additionally, district-level investment synergy committees (ISCs) led by District Magistrates (DMs) will be formed. These committees will coordinate with the SLISC to resolve local issues and ensure smooth project implementation.

Enhancing Coordination and Efficiency

The Industry, Commerce, and Enterprises Department will provide secretarial assistance to the SLISC for efficient functioning. The state-level committee will integrate with www.silpasathi.wb.gov.in to simplify application and approval processes further. Business chambers believe this initiative will strengthen West Bengal's position as a leading investment destination.

An official stated that the SLISC's objectives include acting as a single-point interface for investment proposals. It aims to support diverse sectors while enabling real-time monitoring and feedback systems. The notification highlighted that the committee would meet fortnightly to review applications and address issues in real time.

By establishing these committees, the West Bengal government seeks to create a more conducive environment for business growth. This move is expected to attract more investments into the state by providing a streamlined process for approvals and addressing investor concerns efficiently.