Mumbai, May 5: Veer S. Advani, the CMD of Blue Star Limited and President of the Confederation of Indian Industry (CII) Western Region, stated on Tuesday that West Bengal holds immense potential for industrial investment, signaling a time for change.
In an interview with a news agency, Advani emphasized that West Bengal offers strong opportunities for industrial development. He noted that historically, the state’s manufacturing sector has seen lower participation compared to other regions.
“We believe there are significant opportunities in West Bengal. Investment from industries has been quite limited. While there has been some investment in real estate, the industrial sector has not seen much,” he remarked.
Discussing CII’s broader agenda for the Western Region, Advani highlighted a focus on enhancing the competitiveness of industries, particularly small and medium enterprises (SMEs), which account for about 80% of its nearly 2,500 members.
He explained that competitiveness now extends beyond merely reducing costs; it includes improving quality, promoting digitalization, and adopting sustainable practices.
“We will focus on quality and digitalization. Sustainability will be a priority. We need to invest in all these areas to enhance our capabilities,” he stated.
Advani further mentioned that strengthening capabilities at every level of the supply chain is essential for making Indian industries globally competitive.
Additionally, CII will accelerate its initiatives on policy-related issues in key Western states such as Maharashtra, Gujarat, Madhya Pradesh, and Goa, aiming to simplify business operations and reduce companies’ operational costs.
He also expressed concern over the sharp rise in raw material prices due to geopolitical tensions in West Asia. Advani noted that costs in the air conditioning industry have surged by 8-10% in a short period.
He described this as one of the largest increases in the past decade, comparable only to the aftermath of the global financial crisis.
Advani mentioned that companies are working on engineering changes, improving designs, and renegotiating contracts to alleviate cost pressures, but some of these costs are likely to be passed on to consumers.
“This cost increase will take time to stabilize. Let’s see what happens. The entire industry is working on improving design and reducing costs,” he concluded.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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