A greater alignment of priorities with the same political party at the state and the Centre — the first in nearly five decades — is expected to accelerate development across sectors and improve Bengal’s image among investors, industry leaders said after the BJP’s landslide victory on Monday.

Except for a brief four-year period during UPA I (2004–2008), when the Left Front extended outside support to the Congress-led government at the Centre, ruling parties in Bengal and New Delhi have largely been at odds — a situation industry says has taken a “huge toll on development”.

“The state has lost out on many rounds of development. We are nowhere when it comes to sunrise sectors such as semiconductors, electronics and mobile manufacturing, defence, pharmaceuticals, white goods or auto. So, there is a lot of work to be done going forward,” said a leading industrialist from Bengal.

Industry leaders also expect a shift in perception. “Investors have been wary of considering the state as an option because Bengal was perceived to be a difficult place to do business. Many industrialists based out of Calcutta and Bengal have also been looking out to other states, hoping to hedge their bets,” said a city-based industrialist.

There is optimism that the Centre will support rapid infrastructure development in the state, backed by the rule of law to ensure peace and harmony among different religious communities.

“The state badly needs a deep-sea port to make industry competitive vis-à-vis neighbouring states such as Odisha or Andhra Pradesh, which are endowed with long coastlines and many ports. The development at Tajpur has been stalled for years,” said an industrialist.

Industry participants believe the BJP will look to build on its electoral victory with a strong development agenda. “It was a Modi versus Mamata fight, which the PM has now won hands down. So, Bengal would be a focus state, and the state will stand to gain from that,” said a member of a city-based chamber.

There is also an expectation that the government may encourage the setting up of a marquee project in the state, similar to the upcoming semiconductor plant by the Tata group in Assam.

At the same time, challenges remain. The state will need to mobilise resources to offer competitive industry incentives on a par with other states.

One option could be to leverage central welfare schemes, which the Mamata Banerjee government had earlier avoided, and replicate them at the state level — though that could put pressure on the exchequer.

Bengal is also expected to tap into various industry and infrastructure promotion schemes that the outgoing administration had been cautious about.

Economists had earlier indicated that addressing incentives and land-related issues would be critical for industrial growth. Mamata Banerjee’s decision to roll back commitments on unpaid incentives, along with a cautious approach to land acquisition, had disappointed industry.