Bengal industries minister Shashi Panja on Tuesday said that policies of the state government and incentives therein would play a crucial role towards attracting investments in the state’s green energy sector.

The industries minister explained the initiatives of the state at an event organised by the Indian Chamber of Commerce.

Bengal has come out with a Green Hydrogen Policy to establish the state as a prominent player in the production of green hydrogen and ammonia.

“Bengal accounts for a 14.7 per cent of India’s total exports of iron and steel. But we need to keep in mind as to how green we can make this industry. We also have a large number of MSMEs in the state which can play a role in the green hydrogen value chain. Green hydrogen can also be blended with natural gas and transported through the CGD and PNG network from the production centres to the consumption points,” the minister said.

As part of the policy, the state is offering fiscal incentives such as 100 per cent waiver of land conversion fees, exemption on stamp duty and land registration charges and waiver of electricity duty.

The minister also said that the state government has come out with the West Bengal New and Renewable Manufacturing Promotion Policy to address the supply side gaps and incentivise renewable energy manufacturing units.

“We are urbanising at a fast pace and there would be rising energy demand. This policy aims to address the supply gap and offers incentives such as 100 per cent exemption on land mutation and conversion fee, exemption of stamp duty and registration fees, exemption on electricity duty. There are also skill development subsidies under the Utkarsh Bangla initiative,” the minister said.

Sanjay Budhia, managing director of Patton, who was also present at the event,
said in order to accelerate the circular economy transition, there is a need for harmonised policies, aligned incentives and effective enforcement mechanisms that promote recycled material production and uptake.

“The state has fostered zero waste initiatives to reduce landfill dependence, reducing the environmental impact and maximising resource recovery,” said Budhia.