West Bengalis the sixth largest economy in the country. The state also enjoys a rapidly growing economy, vast expanding consumer market, best in the country in terms of quality and availability of power, low cost of living and large reservoir of scientific and technical human resource along with India's best educational institutions.

Export from West Bengal

• Top 10 export destinations for West Bengal industrial goods are China, Singapore, USA, UAE, Japan, Italy, Malaysia, Germany, UK and South Korea.
• 50 percent of total exports of West Bengal go to Asian countries. Among these, East Asia and ASEAN countries account for about 39 percent of total exports. West Asia and North America are the two other major export destinations from West Bengal.
• India is presently in the process of negotiating the 'Regional Comprehensive Economic Cooperation' (RCEP) agreement. Successful completion of this agreement will definitely boost exports from West Bengal to ASEAN and East Asian countries.

Major engineering products exported from West Bengal
The engineering sector is the largest segment of the overall Indian industrial sector. Engineering exports accounts for over 20% of India's total exports making it the largest foreign exchange earner for the country.

West Bengal has traditionally been at the forefront being a large producer of engineering goods. West Bengal has one of the highest growth rates of State Gross Domestic Product (SGDP). The State plays a very crucial role in the export basket of engineering goods from Eastern India.

• Iron and Steel along with the Products of Iron and Steel.
• Industrial Machinery.
• Non-Ferrous Metals and Products.
• Air conditioning and Refrigeration Machinery and Parts.
• Electric Machinery and Equipment.
• Accumulator and Battery.
• Auto Components/Parts.
• Aircrafts, Spacecraft and Parts.
• Railway Transport and Parts.
• Cranes, Lifts & Winches.
• Construction Machinery.
• Hand Tools, Cutting Tools and Implements made of metals.
• Machinery for ATMs, Injecting Moulding machinery, valves.
• Nuclear Reactors, Industrial Boilers and parts
• Medical and scientific instruments

Advantage of West Bengal

• Human Skill: It has a vast talent pool equipped with literate English-speaking skilled workforce. The state also has adequate amount of cheap and skilled labour force.
• Strategic geographical location: Located at the centre of the Eastern Region of India, having high export potential due to its proximity to the markets of the South- East Asian countries. West Bengal is flanked by three of India's SAARC neighbours viz. Bangladesh, Nepal and Bhutan as well as its proximity and closeness to Myanmar.
• Good connectivity: Roadways, ports and airports. Major stretches of the Golden Quadrilateral project also pass through the Northern districts of the state. Presence of the Kolkata and Haldia port has helped facilitated the import of raw materials (as and when necessary) and export offinished engineering goods.
• Quality Power: With availability of 24 X 7 power, West Bengal is a power surplus State. Availability of abundant power is a major advantage for the growth of engineering industries in the State.
• Abundant water: Being a riverine and rain-fed state, water is available throughout the year in West Bengal.
• Iron & Steel Plants: West Bengal has age old Iron and steel plants, mini steel plants (mainly rolling mills) and aluminium plants supplying the necessary raw materials for the engineering industries. Presence of some major players in the state, viz, Steel Authority of India (SAIL), Bhushan Ltd, Electrosteel Casting Ltd, GontermannPeipers(I) Ltd, Vesuvius India Ltd etc. is a favourable factor.
• Available Local Market: Presence of market for different engineering goods is another favourable factor for the development of these industries. This coupled with a tradition of export of engineering goods from West Bengal makes it a preferred destination for manufacturing of engineering goods.
• Growth Centres and Industrial Parks: There are multiple growth centres and industrial parks for medium and large-scale industries in the State providing ready to use infrastructure to prospective industries.

Investment Opportunity

• West Bengal is the sixth largest economy in India and has registered a growth of 13.8% in 2014-15 as against national average growth of 7.2% during the same period.
• The State ranks sixth with sectoral GSDP in terms of manufacturing to the tune of USD 6.3 billion.
• In the engineering sector, the State contributes one -fifth of net value added (USD 7.1 billion) to the national market.
• So far as engineering exports are concerned, West Bengal accounts for USD 1.8 billion. Being the traditional hub of engineering industries coupled with serving as the fastest growing state economies of the country could be the most suitable destination for investment in this sector.