Saturday, 8 March 2014

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The service sector is the largest contributor to the gross domestic product of West Bengal, contributing 51% of the state domestic product compared to 27% from agriculture and 22% from industry. State industries are localized in the Kolkata region and the mineral-rich western highlands. Durgapur–Asansol colliery belt is home to a number of major steel plants. As of 2004 alt = As of 2003–2004West Bengal had the third-largest economy in India, with a net state domestic product of US$ 21.5 billion. During 2001–2002, the state’s average SDP was more than 7.8%—outperforming the National GDP Growth.
The state has promoted foreign direct investment, which has mostly occurred in the software and electronics fields; Kolkata is becoming a major hub for the information technology (IT) industry. Owing to the boom in Kolkata’s and the overall state’s economy,West Bengal as of 2005[update] had the third-fastest-growing economy in India.

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