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On the basis of a report prepared jointly by the joint Task Force of the Confederation of Indian Industries (CII) and the Government of West Bengal, the latter has resolved to constitute a Corporation to be exclusively concerned with the revival of sick and closed industries in the State. The proposed Corporation is designed to function as a nodal agency in the State for reopening closed and sick industries. In the private sector, there are around 190 closed industrial units involving about 24,000 workers. These private sector units are located mainly in Calcutta, Howrah, Hooghly, North and South 24 Parganas and Burdwan. It has been suggested that three major units in each district will be initially identified for revival. The CII has been requested to forward to the State Government the names of entrepreneurs who will be genuinely interested in reviving sick units. Meanwhile, 5 of the 24 sick industries, the management of which has been assumed by the State Government have turned the corner to start making profits. 10 of them have reduced losses and five more are expected to earn profits within two to three year.

The two reports - one on sick industries and the other on jute industry - was the subject of an interactive session in Calcutta chaired by Chief Minister Jyoti Basu. Besides other Ministers, CII representatives and the Chairman of the West Bengal Industrial Development Corporation Somnath Chatterjee attended the meeting. Shri Jyoti Basu is scheduled to take up the issue of reviving the closed and sick industries with the Government of India.