Economist Sanjeev Sanyal says 'Vixit Bharat' needs 'Vixit Eastern India,' with Kolkata's revival being critical. He calls for pro-business policies, infrastructure investment, and leveraging Bengal's entrepreneurial history to achieve this goal.
Economist and Economic Advisory Council member Sanjeev Sanyal said Friday that a "Vixit Bharat" depends on "Vixit Eastern India," with Kolkata at the centre of that push, arguing that reigniting the city's urban and entrepreneurial ecosystem is critical to building a network of high-growth urban hubs across the region.
"In order for you to have Viksit Bharat, you need to have a Viksit Eastern India and Viksit Bengal and Viksit Kolkata are key to this because effectively getting a major urban hub firing up in Eastern India and creating a network of high growth in urban centers," Sanyal said. "Obviously you need Patna, Guwahati, Ranchi, Bhubaneswar, they need to fire up, but let's be honest Kolkata is still the single largest hub. So really getting Kolkata going is critical to getting this network of urban hubs growing fast."
Path to Revival: Reigniting Kolkata's Ecosystem
Outlining the path ahead, he stressed the need to reactivate Kolkata's urban ecosystem. "Among them is to begin to invest into getting Kolkata's urban ecosystem going again. There are many elements to this. Some of it requires redeployment of derelict industrial lands, which are there. Some of it requires changing policy, industrial policies, which may be not adequately pro-business," he said.
Harnessing Bengal's Entrepreneurial Spirit
Sanyal pointed to Bengal's historical trading legacy as a foundation for renewal. "Despite the last 50 years, what we have seen, the history of Bengal is all about trade and business and it's there in the blood of every Bengali to do business. So we need to bring back that spirit of innovation, of risk-taking and entrepreneurship, for which Bengalis were known throughout history," he said, adding, "Viksit Bengal must play its role in Viksit Bharat."
New State Budget Signals Pro-Business Shift
On the state budget presented by the state's Finance Minister Swapandas Gupta, Sanyal said it signals a shift in approach. "Yes, a budget, which the Minister Swapandas Gupta presented, brings together this new vision. As he himself said, it's unapologetically looks at being pro-business. It lays the ground for certain welfare programs or so, which we had promised. And so we have here the framework for reviving the state."
Scope for Institutional Revival
He also highlighted the scope to revive legacy institutions given "political alignment between central and state." "There are many institutions that are still in Bengal, both central but also state government. Many of these institutions have not seen the kind of investment that you would want. But because you now have political alignment between central and state, many of these old institutions can be also revived," Sanyal said.
"I think a lot of work is ahead of us, but a good first step has been taken." (ANI)
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