The city of Kolkatatoday is listed amongst the most developed metropolitan city of India. After the economic stagnation of eighties, the early nineties saw major boost in its urban infrastructure and economy.
With the passing time Kolkata gained momentum and emerged as one of the developed regions of the country. The economic magnification of the city fostered with the wide acceptance of IT and the BPO which pulled in its resources to foster the lost glory of the city.
Today, Kolkata is home to major IT Giants like HSBC Global Technology, Cognizant, Siemens, PWC and Foster Wheeler. Economy of Kolkatais on upsurge, making it a prime commercial destination in the eastern part of India.
Kolkata - A Hub of Trade and Industries
Kolkata has emerged as financial hotspot for business in the eastern part of India. Its economic history corresponds to the city being home to India's second-most immensely colossal stock exchange company.
The Calcutta Stock Exchange, oldest operating photographic studio in the world-Bourne & Shepherd and India's and South Asia's first metro railway accommodation – Kolkata Metro.
The city additionally maps the headquarters of major oldest and front line banks and PSUs in India such as, ,UCO Bank , Allahabad Bankand Tea Board of India.
Business & Economy of Kolkata
The City of Bliss apart from being the magnetization point for its delicacies, art and shopping is withal home for solemn business. The city of Kolkata is noted to be the most immense manufacturers and exporter of Jute in the country.
Apart from the city being dotted with a number of IT companies and IT technician working day in and out in the said sector, the slum dwellers additionally participate in building up the economy of the city
As per the business snapshot, the informal sector in Kolkata comprises more than forty percent of the labor force which as per 2005 engendered a business of around 2 billion U. S. Dollars. The industrial policyof West Bengal Government is attracting investors from far and wide.
A number of industrial estates are spread across the city, engendering leather and textile products which are exported in bulk. Thus, due to the recent boom in the economy of Kolkata and additionally the state of West Bengal holistically, it is now the third most expeditious growing economy in the country.
The city's IT sector is growing at a rate of 70% per year — twice the national average. With the proposed cable landing station in the coastal West Bengal in the offing, the city is going to offer even more preponderant infrastructure for I.T.