Advancement in the industrial parks in Kolkata

Advancement of Industrial Parks in Kolkata Over the Past Six Years

Jun 1, 2023 | Industrial Park in Kolkata, industrial space

Kolkata has witnessed a remarkable transformation in its industrial parks over the past six years. The number of industrial parks in the city has increased from 10 to 20. The total investment in these parks has exceeded ₹10,000 crores (US$1.3 billion). These industrial parks are pivotal in attracting investment, creating employment opportunities, and fostering innovation. These parks provide businesses with various amenities, such as land, power, water, and transportation, all in one location. They are making it easier and more cost-effective for companies to set up and operate in Kolkata. Here we will explore the significant advancements that have taken place in the industrial park over the past six years.  (Source

Advancement of industrial parks in Kolkata 

Industrial parks in Kolkata have experienced significant advancements over the past six years, propelling the city’s economic growth and attracting investment. The development of infrastructure, technological advancements, sector diversification, and international collaboration led to increased productivity and enhanced global competitiveness. Let’s have a closer look at them.

Infrastructural Development:

Establishing several industrial parks leads to overall Infrastructural development. The state government and private sector participation have focused on upgrading roads, ensuring reliable power supply, and improving transportation facilities. These improvements make it easier for businesses to operate in Kolkata and improve residents’ quality of life.

Technological Advancements:

In line with the global digital transformation, industrial parks have embraced technological advancements to create a conducive business environment. Implementing state-of-the-art technologies such as artificial intelligence, Internet of Things (IoT), and automation has revolutionized manufacturing processes and boosted productivity. This shift towards Industry 4.0 has attracted new industries and enabled existing companies to become more competitive on a global scale.

Sector Diversification:

The Industrial Park in Kolkata has witnessed a significant diversification of sectors, leading to a more balanced and sustainable economy. Traditionally known for its jute, textile, and manufacturing industries, the city has attracted investments in emerging sectors such as information technology, biotechnology, electronics, and renewable energy. 

Business Support and Ease of Doing Business:

Developing industrial parks has attracted significant investment from domestic and foreign investors. To encourage investment and foster a business-friendly environment, the West Bengal Government has taken several initiatives to streamline administrative processes and improve the ease of doing business in the industrial parks. Establishing dedicated help desks, single-window clearance systems, and online platforms for obtaining permits and licenses has reduced bureaucratic hurdles and enhanced the overall business experience. This proactive approach has attracted domestic and international investors, positioning Kolkata as a preferred destination for setting up industrial units.

Skill Development and Training:

The workforce in Kolkata has emphasized skill development and training programs. Collaborations between the government, educational institutions, and industries have been established to bridge the skill gap and provide specialized training to the workforce. These initiatives have not only enhanced the employability of the local population but have also attracted investments from companies looking for a skilled workforce.

Sustainable Practices:

Sustainability and environmental consciousness have gained significant importance in Kolkata’s industrial parks. The concentration of industrial activity in industrial parks has been designed to reduce pollution in Kolkata. Efforts have been made to promote eco-friendly practices, including waste management, water conservation, and renewable energy utilization. Several industrial units have adopted green technologies and implemented measures to minimize their carbon footprint. These sustainable practices contribute to a cleaner environment and enhance the image of Kolkata’s industrial parks as responsible and forward-thinking business hubs.

Government Initiatives:

The government of West Bengal has played a proactive role in promoting industrial development in Kolkata. It has introduced various schemes and incentives to attract investment, such as tax benefits, land allocation, and subsidies. Additionally, the government has collaborated with industry associations to organize trade fairs, business summits, and industrial exhibitions to showcase the potential of industrial parks in Kolkata and facilitate networking opportunities for businesses.

Industrial Clusters and Special Economic Zones (SEZs):

Industrial clusters and Special Economic Zones (SEZs) have been established within Kolkata’s industrial parks to promote sector-specific growth further and foster collaboration among businesses. These clusters focus on specific industries such as IT, textiles, electronics, and automotive, providing a conducive ecosystem for companies operating in those sectors. The SEZs offer additional benefits such as simplified customs procedures, tax exemptions, and streamlined regulatory processes.

International Collaborations:

Kolkata’s industrial parks have actively sought international collaborations and partnerships to tap into global markets and leverage foreign expertise. Alliances with countries like Japan, Germany, and the United States have led to knowledge transfer, technology sharing, and investments in research and development. Such collaborations have accelerated industry growth and opened avenues for global market access and export opportunities.

Social Infrastructure:

In addition to the industrial development, there has been significant investment in social infrastructure within and around Kolkata’s industrial parks. Developing residential complexes, schools, hospitals, and recreational facilities have ensured a high quality of life for the workforce and their families. This integrated approach creates a favorable business environment, attracting and retaining skilled professionals. If you are also looking to set up your business, then Kolkata has several affordable industrial parks.

Conclusion

The past six years have witnessed a remarkable transformation in Kolkata’s industrial parks, positioning the city as a hub of economic growth and industrial development. These industrial parks have become attractive destinations for domestic and international investors with improved infrastructure, technological advancements, sector diversification, business-friendly policies, skill development initiatives, and sustainable practices.