Bengal’s incentive-oriented green policies to ensure sustainable growth: Minister

Kolkata: A day ahead of Chief Minister Mamata Banerjee’s scheduled meeting on upcoming Bengal Global Business Summit (BGBS) 2025, the state’s industry minister Shashi Panja on Tuesday highlighted that Bengal is taking giant steps in embracing sustainable and green development through its incentive-oriented policies announced in the last business summit.

Speaking at the ‘18th Environment Partnership Summit’ organised by Indian Chamber of Commerce, Shashi Panja highlighted that India’s rank in 2024 Environmental Performance Index is not very encouraging. “We stood 176 out of 180 countries. We need to do better as a country. In 2020 during the Covid period when all states were being assessed, Bengal stood in the third position.”

Talking on Bengal’s achievement towards a greener future and sustainable development, she highlighted two policies announced in BGBS 2023. The ‘West Bengal Green Hydrogen Policy 2023’ seeks to establish Bengal as a prominent player in green hydrogen and ammonia, she said.

The minister highlighted that to promote the policy, the state government is providing incentives for developing new plants or fertiliser units. “There is a 100 per cent waiver on land conversion fees, 100 per cent exemption on stamp duty and a 100 per cent waiver of electricity duty,” she said.

She shared that decarbonisation is the need of the hour. “Bengal recorded total exports of iron and steel amounting to 1.85 billion US dollars, accounting for 14.7 per cent of India’s total exports. We also need to see how green we can make this industry.

This is where Bengal has a great potential for becoming a hub for green hydrogen,” she said. “Green hydrogen can also be blended with natural gas and transported from production points to consumption centres through the CGD/ PNG network. This is happening in Kolkata and adjoining

districts,” she added.

She also highlighted the ‘West Bengal New and Renewable Energy Manufacturing Promotion Policy 2023’. “There is a rising demand for energy given the rapid rate of urbanisation.

This policy will address the supply gap and incentivise the units. There is 100 per cent exemption on land mutation or conversion fees. There is also concession on registration fees and stamp duty and electricity duty.”