West Bengal Chief Minister Suvendu Adhikari announced on Wednesday, 14 October 2026, that the state's new industrial policy — being drafted by the Bharatiya Janata Party (BJP)-led government — will be released before Diwali and will include a transparent land policy and a structured incentive framework to attract large-scale investment into the state.

Key Announcement at Haldia

Adhikari made the declaration at the inauguration of the ₹6,000 crore phenol and acetone manufacturing plants of Haldia Petrochemicals Limited at the industrial township of Haldia in East Midnapore district — which is also his own native district. The event marked one of the largest single industrial investments in West Bengal in recent years.

'The Group of Ministers entrusted with the task of formulating the new industrial policy had already submitted the proposals on this count. Before the forthcoming Diwali festival, the final industrial policy will be presented to the industry fraternity,' Adhikari said. He added that the policy would explicitly spell out incentives including power tariff subsidies for investors.

Critique of Previous Governments

The Chief Minister launched a pointed critique of both the preceding Left Front and Trinamool Congress (TMC) governments, arguing that decades of misgovernance had hollowed out West Bengal's industrial base. He cited 'militant trade unionism and even assault of industrialists' during the 34-year Left Front regime (1977–2011) as key drivers of industrial flight from the state.

Turning to the subsequent 15-year TMC tenure (2011–2026), Adhikari alleged that 'flawed land policies, rampant corruption and extortion' rendered the state unattractive to investors. 'Now the time has come to move on and move out of that bad phase,' he said. The remarks represent the sharpest political framing the new BJP state government has adopted on economic governance since taking office.

What the New Policy Promises

According to the Chief Minister, the forthcoming policy will offer prospective investors a clear and codified incentive structure — a departure from what critics have described as ad hoc or opaque concessions in the past. Crucially, land acquisition norms will be spelt out clearly, addressing a long-standing investor concern in a state where land-related disputes have historically derailed projects.

Notably, West Bengal's industrial output has lagged peer states such as Tamil Nadu, Gujarat, and Karnataka for much of the past two decades, according to government data. A clear land and incentive framework could help reduce the friction that has historically deterred investment decisions.

Adhikari's One-Year Industrial Target

Adhikari set an ambitious benchmark, promising that within one year West Bengal would emerge as the preferred 'industrial destination' for businesses across India. 'Let us go to Bengal — will be the new aim of the industrialists within a year. No one can stop the tide of industrial inflow in the state in the coming days,' he said, invoking the concept of a 'double-engine government' — a BJP phrase denoting aligned state and central administrations — as a structural advantage for the state.

The full policy document is expected to be formally presented to industry stakeholders ahead of Diwali, after which sectoral guidelines and application processes are likely to follow.