WBIDC, formed in 1967, is the premier agency of the State’s Commerce and Industries Department to support economic development across the state. The agency is responsible for the development, growth, facilitation and trouble shooting of industry, investment and infrastructure in West Bengal, apart from its role as a financial institution for large and medium scale sectors. WBID has established Growh Centres with basic industrial and social infrastructure facilities across the state.
The Corporation is actively engaged in catalysing investment through promotion/marketing of West Bengal as an investment destination, assisting in the implementation of projects through its ‘Single Window Facility’ called the ‘State Investment Facilitation Centre’ (SIFC).
- To secure and assist in the expeditious and orderly establishment, growth and development of industries in the state of West Bengal
- Promotion of joint sector and assisted sector units in important industry segments
- Financing medium & large scale industries through various loan schemes.
- Developments of business, trade and industrial links with domestic as well as foreign institutions and companies.
- Conceptualization of new projects as well as assistance to entrepreneurs towards implementation and follow-up.
- Provision of financial assistance to medium and large scale industries.
- Management and operation of the State Incentive Schemes as a nodal agency of the State Government.
- Promoting/Facilitating the Development and Management of Industrial Infrastructure such as industry specific parks.
- Facilitating investment proposals through single-window agency ‘Shilpa Bandhu’ or State Investment Facilitation Centre (SIFC).
- Dissemination of information related to prospects of industries in the State.”
WBIDC performs its financial functions through the following instruments:
- Term loans to medium scale industries at competitive rates
- Short term loans to assisted units
- Equity participation in selected projects
- Equipment refinance scheme for existing profit making units
- Bridge loan against admitted Incentive Schemes
- Bill discounting facilities
During FY 2009-10, WBIDC has disbursed a total loan of Rs 6254 lakh to 10 units. The Incentive disbursement during FY 2009-10 has been Rs 6917.10 lakh.
WBIDC also plays an active role in assisting implementation of new investments through Shilpabandhu or the State Investment Facilitation Centre (SIFC), which is an integral part of the Corporation. SIFC assists greenfield and expansion projects in getting clearances.
The assistance provided by SIFC is of the following nature:
A. Facilitation Service
- Filing of application for IEM, LOI, and clearance from Foreign Investment Promotion Board in the Secretariat of Industrial Assistance, Government of India.
- Registration with Directorate of Industries.
- Identification, allotment and acquisition of land for setting up industries, mutation and conversion of land.
- Supply of construction and bulk power to industries by WBSEB, DVC, DPL, CESC and grant of special incentives offered by WBSEB, DPL and CESC.
- Sales tax matters
- Issue of No Objection Certificate and consent to operate from WB Pollution Control Board.
- Liaison with authorities providing Telephone and Telecommunication facilities.
- Liaison with District Civil and Police authorities, labour Department, Fire Service Directorate, Office of Chief Inspector of Factories & Boilers, Directorate of Electricity, the Kolkata, Haldia, Siliguri, Asansol-Durgapur and other Development Authorities.
- Liaison with Customs & Excise, Directorate General of Foreign Trade, Kolkata & Haldia Ports, Kolkata Airport and Reserve Bank of India.
- Counseling on Project Finance and liaison with various all India and State level financial institutions and banks.
- Implementation counseling with regard to all industrial and infrastructure ventures in West Bengal.
- Free consultation facilities provided on 200 project reports developed by WBIDC in Downstream industries of Petrochemicals, Power Intensive Industries, Agro and Food Processing, IT etc.
- Assistance in sourcing appropriate technology from within the country and abroad.Facilitation services can also be had online through the Client Information System.
B. Information services
- SIFC is equipped with Project Profiles for over 200 projects in the following sectors:
- Downstream of Petrochemicals
- Electronics & Information Technology .Iron & Steel
- Metallurgical Engineering .Textiles
- Food Processing .leather
- Mineral Processing
C. Project Evaluation Services
The SIFC Evaluates Projects for financial assistance from WBIDC through interactions with the entrepreneur and preliminary evaluation may be done online through Client Information System. In case of financial assistance from other financial institutions/banks, the entrepreneur can avail of counseling services from SIFC.
Some of the major industrial zones being facilitated by WBIDC are :
- Industrial Park for Iron & Steel
- Foundry Park
- Rubber Park
- Food Park
- Garment Park
- Gems & Jewellery SEZ
- Poly Park
- Industrial Park for Engineering & Manufacturing
- Industrial Park for Light Engineering