“protect the poorest of the poor, protect un-organised workers, protect womenfolk who have no income.”
The capitalist communist
from The Economist Print Edition
How a poetic Marxist has transformed business prospects in West Bengal
UNTIL a few years ago foreign capitalists were unlikely to look for investment opportunities in the Indian state of West Bengal, seat of the world's longest-serving democratically elected communist government. They were about as likely to ask for the novels of Gabriel Garcia Marquez in Bengali, the local language. That both are now readily available is largely down to one man. He is Buddhadeb Bhattacharjee, the state's chief minister, a poet and playwright, the translator of the great Colombian-born novelist--and a life-long communist.
Since taking charge of West Bengal in 2000, Mr Bhattacharjee has embraced business with apostate zeal. The results have been little short of revolutionary. Under a coalition of leftists led by his own Communist Party of India (Marxist), which has won seven consecutive elections, West Bengal was previously best known for industrial action, capital flight and the immiseration of its capital, Calcutta, recently renamed Kolkata. Things improved slightly in the mid-1990s, after investors were officially invited to the state. But only in recent years, after Mr Bhattacharjee began travelling the world and wooing foreign companies, have many actually come. They have joined an influx of Indian firms in computer services, manufacturing and steelmaking. Tata Motors says that next year it will start producing a new low-cost car--expected to sell for less than $3,000--at a factory it is building at Singur, near Kolkata. ...
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