Kolkata, Feb 6 (IANS): The Bengal Global Business Summit (BGBS)- 2025 has attracted total investment proposals worth Rs 4.40 lakh crore for West Bengal, Chief Minister Mamata Banerjee announced on the second and final day of the annual event to showcase the state as an ideal investment destination.

"During the last two days of the event, we have received a total investment proposal of Rs 4,40,595 crore. Several memoranda of understanding have been signed during the last two days," the Chief Minister said in her address at the closing session of the event.

State government insiders pointed out that the figure of new investment proposals in the event this year as claimed by the Chief Minister is significantly higher than the projected figure in the last such event in 2023 which was Rs 3.76 lakh crore.

The annual event was not organised in 2024.

Banerjee claimed that during the event this year, a total of 212 MoUs have been signed. The most significant investment proposal had been in the oil & gas segment, where public sector ONGC will be engaged in oil and gas exploration at Ashoknagar in the North 24 Parganas district, she added.

"We have provided 50 acres of land at just Re 1 to ONGC at Ashoknagar for that purpose," she said.

Banerjee said that the remarkable progress achieved in the area of infrastructure development during the last 14 years has eased the process of doing business in West Bengal.

"No other state in India has such an investor-friendly environment as it is there in West Bengal. This is because of the remarkable achievements we have made in the area of infrastructure development during the last 14 years," she said.

The Chief Minister did not miss the opportunity to highlight the successes of her government in social welfare and the elevation of people from below the poverty line.

"We have been able to bring out 1.72 crore people from below the poverty line during the last 14 years. Each family in West Bengal is covered by several social welfare schemes," she asserted.