West Bengal accounted for 11.62% of Micro, Small, and Medium Enterprises (MSMEs), the most among the top 10 states of the country. It has the highest number of MSMEs in the country with 52,69,814 units.
Surprisingly, highly industrial regions like Maharashtra and Gujarat were left behind by WB in the race, according to the 2016-17 MSME ministry annual report. “This is a reflection on what the state is doing toward creating businesses, entrepreneurs, and jobs in the state. The growth of MSMEs offer huge scope for large-scale industries,” MSME Secretary Rajiva Sinha was reported as saying in media reports recently.
Uttar Pradesh ranked second after West Bengal, followed by Maharashtra. Gujarat stood eighth with 4.89% of the MSME share, the report said. The top 10 states make for 70% of the estimated 4.53 crore MSME units in the country.
In 2017, West Bengal also recorded the biggest bank credit flow to the MSME sector in the last five years at $15 billion, the report said. The sector is significant as it contributes nearly 6% to the GDP, 33% to manufacturing, and 45% to exports, according to the government data.
According to a report by India Brand Equity Foundation, West Bengal currently tops the list of the Department of Industrial Policy and Promotion’s Business Reforms Action Plan (BRAP) 2017, comprising all states and Union Territories.
West Bengal is India's sixth largest economy and recorded a Gross State Domestic Product (GSDP) of US$ 163.87 billion in 2017-18AE. The state's GSDP expanded at a compound annual growth rate (CAGR) of 12.47 percent (in rupee terms) from 2011-12 to 2017-18.
The state is the largest producer of rice in India. Rice production for the state totalled 14.99 million tonnes in 2017-18*. West Bengal is also a major producer of fish. During Apr-Dec 2017, the state produced a total of 1.34 million tonnes of fish. As of May 2018, West Bengal had a total installed power generation capacity of 10,490.23 megawatts (MW).
West Bengal is the second largest tea-producing state in India and is home to the globally acclaimed Darjeeling tea variety.
Key Industries here include tea, petroleum and petrochemicals, leather. Iron and steel, information technology, mineral resources, automobile and auto components, biotechnology, fisheries, jute products and textiles.