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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 wherein it withal functions as the main port of communication for the North-East Indian states. 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
Some eminent companies headquartered in Kolkata include H R Group, Coal India Inhibited, Haldia Petrochemicals, ITC Inhibited, Hindustan Motors, Tata Steel Processing & Distribution Ltd, Britannia Industries, Exide Industries, Birla Corporation, Stewarts & Lloyds Of India, Ltd., IFB Industries, CESC Constrained, Bengal Ambuja, Linc Pen & Plastics, India Govt. Mint, Philips India, Bata India, Visa Group, RPG Group, Damodar Valley Corporation, SIMOCO, Usha Martin, Orient Airways, Bengal Ambuja, Eveready Industries, Berger Paints India Ltd, Titagarh Wagons, Eveready Industries India Ltd., and Emami Ltd.
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 and integrate up to the informal economy bulk by working towards self financing by plastic salvaging, laundering, sweeping, house cleaning, electrical wiring, rickshaw pulling, folk medicine, tailoring, shoe making, selling food and music and art edifying business activities. It is additionally a kenned fact that most of the Sitars made in India are manufactured in and around Kolkata.
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.