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Economy 'Decision of Infosys to invest in Bengal best news'

‘Decision of Infosys to invest in Bengal best news’

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Kolkata: The recent announcement that India’s top information technology company Infosys will invest Rs 100 crore for setting up its new campus at Rajarhat on the outskirts of Kolkata has come as one of the best news for West Bengal at such a critical juncture of its journey towards an economic recovery. This view was expressed here by a number of leading Industrial houses in the State on Wednesday while heartily welcoming Chief Minister Mamata Banerjee’s formal announcement in this regard Tuesday evening.

Describing the decision of Infosys to come back to West Bengal after a lot of hesitation and backtracking from its earlier decision to withdraw from the State — even after acquiring 50 acres of land at Rajarhat way back in 2010 — as a very timely decision, several leading business experts felt that such an unexpected deal would not only work as a confidence building measure for rest of the industry, but also become a trendsetter for many others who might be encouraged to follow the example.

According to N Chandramouli, chief executive officer of TRA Research, “When a company like Infosys decides to invest in West Bengal after so many parleys that have happened for over a decade, it brings back hope in a big way to the industry and also to the citizens, as it will create the much-needed business and employment in the State”.

The signing of the deal would also create a very positive image of Chief Minister Banerjee who had shown her resolve as a business friendly leader after a new image developed about her in the wake of Singur imbroglio, he said.

For Infosys, it is a good opportunity to show its ability to be a first mover through this deal notwithstanding its dithering over the issue, the experts pointed out. They hoped Wipro, one of the earliest entrants in West Bengal, will soon invest more in the State, providing, together with Infosys, thousands of jobs.

One could also expect TCS to follow subsequently, opening the door to huge employment opportunities for the State’s educated youth, the experts felt. They said that such a scenario portends well for Banerjee and Bengal.

Also welcoming the appointment of Nandan Nilekani as the new non-executive chairman of Infosys, the experts said it had already generated a lot of confidence in the investors, which was amply proved by the recent surge in the stock markets. The new deal in West Bengal, they said, had probably shown that it was ‘business as usual’ despite the leadership change. The proposed, additional Bengal campus would give impetus to the State’s image-building exercise and contribute to its growth, they opined.

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