Free Press Journal

Hopeful of Singapore’s GIC Group investing in Bengal: Mitra


Singapore: After holding a “fruitful” meeting with Singapore’s leading investment fund – the GIC Group, West Bengal Finance Minister Amit Mitra Monday exuded confidence of securing big ticket investment for the state.

Led by Chief Minister Mamata Banerjee, a delegation of ministers, bureaucrats and entrepreneurs are camping in the city state scouting for investment.

“Quite aware of Bengal and looking at the list of those who are investing in our state, they ended the meeting with a positive intent. The biggest thing is they have asked us to send them projects and if they found them bankable, they will invest,” Mitra said after holding a meeting with GIC representatives.

Several Singaporean and Indian entrepreneurs including ITC executive director Kurush Grant were present at the meeting.

Mitra said the group has already set up an office in India and entered in to a joint venture with the HDFC Bank for making investments in India.

“Usually they do not invest anything below $50 million. It’s a very positive and significant development and people would soon get to see the results,” he added.

Besides Banerjee’s meeting with the Singaporean prime minister, an industrial summit will be held Wednesday where top business heads of the country are expected to participate.