during Last Two Decades Some Policy Suggestions Ajitava Raychaudhuri Biswajit Chatterjee In the last two decades, West Bengal had a slow rate of industrialisation but witnessed a relative growth of small and informal industries, This growth of small industries began largely as an ancillarisation operation of large and medium industries. However, the ancillarisation and the small and informal based industrialisation proved productive for industries which grew depending on government orders, but was counterproductive for expansion of consumer goods industries facing market competition and risk. This feature can be explained in terms of risk perception of producers which is conditional upon uncertainties attached to future net returns of investment. The responsibility for reversing this situation lies with the government its commitments as well as on the innovative management practices of entrepreneurs.
