West Bengal’s hopes of an industrial revival face structural challenges despite strong manufacturing growth over the past decade. A NITI Aayog report showed the state’s share in India’s GDP fell from 6.8% in 1990-91 to 5.8% in 2021-22, while per-capita income remained below the national average. However, manufacturing growth between 2013-14 and 2022-23 outpaced the national average, driven largely by informal micro-enterprises rather than large formal industries.