Mumbai, May 6: Sanjeev Sanyal, a member of the Prime Minister’s Economic Advisory Council (EAC), emphasized on Wednesday that revitalizing Kolkata is crucial for the development of Eastern India, which is significantly poorer compared to the western part of the country.
Speaking at an event titled “Economic Performance Relative to Indian States” held at the National Stock Exchange (NSE), Sanyal shared insights with reporters about the clear trends observed in the performance of Indian states.
He stated, “There is often discussion about the north-south divide in the country, but the real economic challenge lies in the east-west divide, where Eastern India is much poorer than the western region.”
Sanyal further explained that the key to accelerating development in Eastern India is the revival of Kolkata, as rapid economic growth in the country tends to occur through a few major cities and development hubs. Therefore, Eastern India also requires a strong development center.
“Kolkata already possesses several industrial clusters and a rich history. Despite the decline over the past 50 years, I believe the secret to reviving Eastern India lies in the rejuvenation of Kolkata,” he added.
Meanwhile, industrialist Sanjiv Goenka expressed optimism regarding the changing political landscape in West Bengal. He noted that if a stable government is formed in the state, it would boost investor confidence and attract new investments.
In an interview with NDTV, Goenka, Chairman of the RP-Sanjiv Goenka Group, stated that the focus should shift from concerns about the migration of Bengalis to attracting talent and capital to the state.
He stressed the need to create a business-friendly environment that encourages both individuals and companies to invest and settle in the region.
Born and raised in Kolkata, Goenka mentioned his personal commitment to the state’s development and his desire to contribute to its progress.
He highlighted that policy stability is essential for the industry, as frequent changes or reversals in regulations can impact long-term investment decisions.
Goenka also emphasized the need for structural reforms, criticizing outdated regulations like urban land ceilings as obstacles to development.
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