MUMBAI
The secret to fixing India’s economic imbalance lies in the heart of West Bengal, according to Sanjeev Sanyal, a top advisor to the Prime Minister.
Speaking at the National Stock Exchange, Sanyal argued that the real crisis isn’t a North-South divide, but a widening gap between a wealthy West and a struggling East.
Sanyal explained that India’s rapid growth is usually powered by a few high-performing cities. For the eastern states to catch up, Kolkata must be restored to its former glory as a major financial hub. Despite decades of industrial decline, he believes the city still possesses the infrastructure and history needed to lead a regional comeback. “The revival of the eastern half of India must be about the revival of Kolkata,” he stated firmly.
Echoing this sentiment, prominent industrialist Sanjiv Goenka expressed hope that a new political landscape could finally win back investor trust. He noted that the focus must shift from people leaving the state to attracting fresh talent and big capital. Goenka emphasized that for companies to settle in Bengal, the government must provide consistent policies and remove “obsolete” laws, such as outdated land ceiling regulations that currently block major construction.
The consensus among experts is clear: if Kolkata thrives, the surrounding states will follow. By modernizing city laws and creating a business-friendly environment, leaders hope to transform the “City of Joy” into an engine of prosperity that can lift millions in the eastern region out of poverty.