An American Outlook

Arindam Sarkar

If Chief Minister Mamata Banerjee has the inclination, Americans have the dollars. Though Mamata is harping to industrially develop Bengal, so far she has not sent the right signals to the US investors, believes America’s one of the leading thinkers on foreign policy Professor Walter Russell Mead.

Visiting the city for the first time in August 2012, three months after the visit of the then US Secretary of State Hillary Clinton to Kolkata, the James Clark Chase Professor of Foreign Affairs and Humanities at Bard College Professor Russell said Hillary came to build relations with a significant region of India. America recognizes that Kolkata counts as capital of the eastern India.

Russell pointed out it is the geo-political and strategic position of Kolkata that makes the city important for the USA. “There is China, Myanmar and the North-East. Kolkata is a place where many solutions will be crafted in the future. It is a city of a vital region,” believes Walter Russell.

Apparently, Americans think there is no reason why Kolkata can’t become Gujarat or Karnataka where the US companies have made major investments. American experience tells them that countries that have long been under Marxism such as Poland, Estonia or Czech Republic want change. Kolkata too is looking for a change for the better.

Since Bengal has been under Marxism for 34 years and have suffered Partition, they have missed out on economic growth. And with America ready to invest in Bengal, Mamata should make the right moves to get the dollars.

“Small changes matter. American Consulate here is situated on Ho Chi Minh Sarani. Why? Why isn’t it called Martin Luther King or Mahatma Gandhi Street? Americans don’t like the communists. She can change the name of the street,” urged Professor Mead.

He said the CM must realize the real development comes with investments in manufacturing industries. IT provides employment to few and educated. But the masses benefit from manufacturing units as it creates huge employment opportunities. “Both the USA and Japan are looking towards Kolkata. A favorable industrial policy would bring the investors here,” Walter Russell emphasized.

Mamata Banerjee government doesn’t have a global, investor-friendly industrial policy and for that she requires, Walter Russel suggested, US consultancy majors like McKinsey & Co. to prepare an industrial roadmap and bring investments to Bengal. “American government cannot dictate the investments of their business houses. So the CM has to develop a good industrial policy to woo major investors like GE,” explained Professor Mead.

America understands Mamata’s position on `no FDI in multi-brand Retail’. But the Americans want Mamata to take a flexible approach. That is to protect her political interests and at the same time give way to business needs. “She is trying to reinvent Bengal. She has to work out modalities with the American investors to develop her State. She must share her concern and seek advice,” said Professor Mead.

The Americans are surprised that despite being nominated as one of the 100 most influential persons of the year by TIME magazine, Mamata has kept herself out of the American loop. She opened no communication channel with the US ambassadors to India or shown any interest to visit the USA to get business.

As of now, Walter Russell disclosed, the American investors see her as a difficult person to work with. The US foreign experts believe unless she sends the right message and the investors start considering her as a friendly person, American or Japanese investments in Bengal would be a distant dream.

“All the Fortune 500 companies have a global supply chain and the CM has to rope them. Hillary had also stressed on a strategic investment commitment from the CM. If this government delivers, things will happen,” said former Yale University Professor, Walter R Mead.

“She must show her commitment. She must set up trade missions in America. And with Maynamar opening up, she must latch on to the opportunity to make this city a huge trade corridor,” added Professor Walter Russell Mead.