Poland and India have established a program named the West Bengal Project as part of an effort to strengthen their bilateral cooperation. A memorandum of understanding (MOU) was first signed by the parties at the Bengal Global Business Summit in January 2018. The program was officially launched in April 2018.
Key partners of the project include the Polish Ministry of Foreign Affairs, the Ministry of Energy, the Ministry of Entrepreneurship & Technology, the Polish Development Fund (PFR), JSW SA (the largest producer of coking coal in Poland, PeBeKa, and a leader in mining and infrastructure development projects), and the Indo-Polish Chamber of Commerce & Industry (IPCCI).
A key component of the project is to initiate transfers of technology related to the coal mining industry, specifically, in relation to the exploration of new coal deposits, the construction of new coal mines, maintenance and stability of surrounding infrastructure, and environmental sustainability. The Indian government plans to increase domestic coal production to 1 billion tons by 2020.
According to official statistics, the bilateral trade between India and Poland in 2017 was USD 3.16 billion, which represented a rise of 14 percent from the preceding year. Poland accounted for USD 2.424 billion of India’s exports in 2017, whereas India accounted for USD 736 million of Poland’s total exports.
An official stated that “West Bengal is growing, and other companies with steel connections are also making investments in line with this project.” The Kolkata-based Maithan Alloys, a producer and exporter of manganese alloys announced this week it will be setting up a greenfield ferro alloy manufacturing unit in West Bengal at an investment of Rs 275 (USD 41-42 million).