Now the question is, are there any effective mechanisms and methodologies in place to grow state’s GDP & per capita income?

The Industrial Revolution is not simply an acceleration of economic growth, but an acceleration of social, political, technological and economical transformation.

At this junction any government which comes into power have to setup a “Revolutionary Module” for the Industrial growth.  Implement this “Revolutionary Module” and re energize the Industrial development in the state and may award a new name to it such as “West Bengal Innovative Corporation” (WBIC).

 Possible immediate steps for WBIC could be-

First Step: Setup an executive committee comprising of government officers, industry professionals and young entrepreneur. Let the independent professional organization be run by a full time professional CEO.

Second Step: Set a clear goals and Objectives which includes next five years target and monitoring plan for WBIC.

Third Step: Modify and Implement various industrial policies and investment policies as required from time to time. 

Fourth Step: Setup an Investment committee comprising of government officers, industry professionals and young entrepreneurs to enable Investments, including foreign Investment. A full time professional Investment Manager shall lead this committee under supervision of an executive committee.

Objectives of this committee:

a)      Bring foreign investments

b)      Enable entrepreneurship programs and aligning entrepreneurs with various financial institutes for funding.

c)       Participate in various international conferences, Conduct seminars, road shows across the world presenting state’s capabilities and facilities.

d)      Build bridge between state government and investors.

Other following conditions have to exist before the first phase of the Industrial Revolution could occur:

• Government’s commitment to subordinate foreign policy to meet economic ends.
• Adequate infrastructure and transportation: major industrial hubs need to be connected with all major cities by road, sea and air.
• Population with "modern" attitudes towards work: to create the combination of factory work and urban life.
• Literacy: Such a revolutionary change requires people who are willing to upgrade their skills.