Speak Out India: Mamta Banerjee's Five star junket to Singapore.
- 5 years ago
On her first trip to foreign soil since assuming office, Mamata may also sound out Japanese manufacturing giants like Sumitomo, Mitsui and Panasonic that have made Singapore the headquarters of their Asia-Pacific operations.
The CM is also likely to meet key personnel of leading global financial institutions and private equity firms. Singapore, now the Asian hub of most such institutions, can offer foreign direct investment in key projects in Bengal.
A visit to Sentosa Amusement Park is part of Mamata's itinerary. Universal Studios, Singapore, is part of Sentosa that attract tourists across the globe and is the replica of Universal Studios in the US. State government sources indicated that entertainment infrastructure FDI was on the CM's agenda. Her delegation will include representatives from the entertainment sector, as well as hospitality, shipping, FMCG, food processing, energy, engineering, cement, IT and real estate.
IT is a key area in which the state government will tap Singapore. An MoU is likely to be signed between a Bengal-based IT firm with a Singapore company on August 19. Industry experts said that with Singapore becoming one of the world's most expensive cities, many IT companies were looking at relocating some functions to India. Kolkata hopes to grab a share of that.
Commerce, industries and IT minister Amit Mitra had said in a recent interview that he was bullish about IT and Infosys would eventually come to Bengal as TCS, Wipro and Cognizant already had a base in the state. "The attrition rate in West Bengal is 10%, some are saying it is as low as 3-4%. The national survey is saying the state is No.1 in productivity of IT professionals. Such business opportunities shouldn't keep Infosys out for long," he said.
According to Mitra, the biggest IT contract in Bengal, worth Rs 140 crore, was awarded to Tata Consultancy Services after transparent competitive bidding. The contract related to handing over panchayat money using the bio-metric system. "They have committed 20,000 additional IT professionals and are setting up a 40-acre campus. Cognizant is recruiting 5,000 people. HSBC has the back office of its entire international work in Kolkata, where 4,000 people are employed. In 2013-14, the state's share of IT exports stood at 18%, higher than in 2012-13. Total exports from Bengal are now Rs 63,000 crore ($10.5 billion), an increase of 12-13%. The Federation of Indian Export Organisations met us and said it would double the amount to $20 billion in four years," he said.
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The CM is also likely to meet key personnel of leading global financial institutions and private equity firms. Singapore, now the Asian hub of most such institutions, can offer foreign direct investment in key projects in Bengal.
A visit to Sentosa Amusement Park is part of Mamata's itinerary. Universal Studios, Singapore, is part of Sentosa that attract tourists across the globe and is the replica of Universal Studios in the US. State government sources indicated that entertainment infrastructure FDI was on the CM's agenda. Her delegation will include representatives from the entertainment sector, as well as hospitality, shipping, FMCG, food processing, energy, engineering, cement, IT and real estate.
IT is a key area in which the state government will tap Singapore. An MoU is likely to be signed between a Bengal-based IT firm with a Singapore company on August 19. Industry experts said that with Singapore becoming one of the world's most expensive cities, many IT companies were looking at relocating some functions to India. Kolkata hopes to grab a share of that.
Commerce, industries and IT minister Amit Mitra had said in a recent interview that he was bullish about IT and Infosys would eventually come to Bengal as TCS, Wipro and Cognizant already had a base in the state. "The attrition rate in West Bengal is 10%, some are saying it is as low as 3-4%. The national survey is saying the state is No.1 in productivity of IT professionals. Such business opportunities shouldn't keep Infosys out for long," he said.
According to Mitra, the biggest IT contract in Bengal, worth Rs 140 crore, was awarded to Tata Consultancy Services after transparent competitive bidding. The contract related to handing over panchayat money using the bio-metric system. "They have committed 20,000 additional IT professionals and are setting up a 40-acre campus. Cognizant is recruiting 5,000 people. HSBC has the back office of its entire international work in Kolkata, where 4,000 people are employed. In 2013-14, the state's share of IT exports stood at 18%, higher than in 2012-13. Total exports from Bengal are now Rs 63,000 crore ($10.5 billion), an increase of 12-13%. The Federation of Indian Export Organisations met us and said it would double the amount to $20 billion in four years," he said.
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