West Bengal, once known as a bustling hub of industry and commerce, has seen significant shifts in its economic landscape over the past few decades. Recently, on the social media platform X, formerly Twitter, Kishore Subramanian, identified by his bio as a financial expert made waves with a sharply critical post about West Bengal’s economic trajectory.
His post with a critical note in a sarcastic take noted, “Bengal’s Achievements in last few decades.” The post highlights about the state’s struggle to retain and attract major industries over the past few decades.
Bengal’s Achievements in last few decades.
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1. Tata Group (HQ shifted to Mumbai)
2. Birla Group (HQ shifted to Mumbai)
3. Hindustan Unilever Limited (HQ shifted to Mumbai)
4. ITC Limited (HQ shifted to Delhi)
5. Coal India Limited (HQ shifted to Delhi)
6. Steel…
— Kishore Subramanian (@Kishore1975_) August 24, 2024
Frequent Bandhs: A Major Disruption
According to Subramanian post, over the last 40 years, the state has experienced an astonishing number of bandhs, with estimates ranging from 1,200 to 1,500. The frequency of these disruptions – an average of 30-37 bandhs per year – has significantly affected daily life and business operations.
The high incidence of bandhs, particularly between 2001 and 2010, highlights a period of intense economic strain for the state.
The post also added that numerous high-profile companies have either relocated their headquarters or shifted their manufacturing operations out of West Bengal. The post highlights a pattern where the state has lost major players in various sectors, including:
The Impact on Major Industries
Tata Group, Birla Group, and Hindustan Unilever Limited: Moving their headquarters to Mumbai underscores a significant trend of businesses seeking stability outside West Bengal.
ITC Limited, Coal India Limited, and Steel Authority of India Limited: Relocation of headquarters to Delhi further reflects a shift in industrial focus.
In his post, he provided a list of 40 companies which has relocated their headquarters or shifted their manufacturing operations out of West Bengal.
Screen grab of the companies from Subramanian’s post
Manufacturing Shifts and Closures
Several companies have not just shifted their headquarters but have also moved their manufacturing operations to other states. This includes:
Webel Electronics, Nicco Corporation, Texmaco Rail & Engineering: These companies moved their manufacturing facilities to other regions, reducing the state’s industrial output.
Hindustan Motors, Jessop & Co.: Notable industrial closures in Kolkata further illustrate the economic challenges faced by the state.
Small and Medium Enterprises (SMEs)
The impact of bandhs extends to smaller businesses as well. Many SMEs and startups have relocated operations to other states, seeking a more stable business environment.
His post further added, “THAT IS APPROXIMATELY 4 YEARS CLOSED DUE TO BANDHS IN 40 YEARS !!!! 10% STRAIGHT !!!!”
“Bandhs. Cholbena. Hafta.Peto Bomb . Goondaism. Party Baazi. Adda. Durgo Pujo. Rasta Ghat Cricket. Carrom. Extortion. Chanda for every pujo. Industries of Bengal,” he added further complicated the state business environment.
Netizens Reaction
The social media users responded to Subramanian post in a mixed way.
Chairman of RPG Enterprises Harsh Goenka responding to Subramanian post post wrote, “Lot of factual mistakes”
Responding to Goenka’s post Subramanian wrote, “Willing to surely correct the ones that are factually wrong. But the point is not about the number of companies and the actual shift / closure. Let it be 20/30/100 or for that matter even less or more. The condition of Bengal’s Industrial bankruptcy is the moot point . I could have added a disclaimer for the same/ should have – my bad. Surely own the errors. I don’t have rights of mid-representation, as that’s not my objective.”
Willing to surely correct the ones that are factually wrong. But the point is not about the number of companies and the actual shift / closure. Let it be 20/30/100 or for that matter even less or more. The condition of Bengal’s Industrial bankruptcy is the moot point .
I could…
— Kishore Subramanian (@Kishore1975_) August 24, 2024
Another user wrote, “Agree… I have served in that state for two years and have vowed never to work there again even with lucrative offers.”
