West Bengal has a central infrastructure pipeline of 82 projects with a latest revised cost of Rs 1,470 bn and cumulative expenditure of about Rs 796 bn as of April 2026, a PHD Chamber report says. The investment prompts questions about the state's ability to convert connectivity into manufacturing, private investment and exports. Railways have the largest share with 16 projects at about Rs 608 bn and cumulative spending near Rs 380 bn. Roads and highways comprise 24 projects at about Rs 160 bn and three electricity generation projects account for around Rs 216 bn. The pipeline also supports coal, steel, telecommunications and aviation investments. The report urges an integrated, cluster-based manufacturing strategy to leverage resources, human capital and logistics to create investment-ready clusters. Gross state domestic product (GSDP) rose from Rs 6,100 bn in FY2015-16 to Rs 9,420 bn in FY2024-25, services averaged about 42 per cent of gross state value added (GSVA) and industry about 23 per cent. Engineering is a natural starting point given foundry and heavy engineering ecosystems in Howrah, Durgapur, Kharagpur and Kalyani, and the report suggests focusing on precision components, railway and automotive components and industrial machinery. The strategy emphasises enabling micro, small and medium enterprises (MSMEs) to upgrade technology and join larger supply chains. Electronics and electronics system design and manufacturing (ESDM) are identified as opportunities, with clusters at Naihati and Falta and technical institutions and port access supporting an eastern India hub. Maritime manufacturing, including shipbuilding and inland vessel production, could capitalise on access to the Bay of Bengal and National Waterway 1. The report proposes a 5,000–10,000 acre rolling industrial land pipeline with around 2,000–4,000 acres for anchor industries and 3,000–6,000 acres for MSMEs, plus a mega parcel programme targeting 32–47 large parcels and a land readiness score. It warns that land and infrastructure alone will not create clusters and calls for investment-ready land, common industrial infrastructure, supplier development, skills and export facilitation.