Kolkata is the biggest and main industrial, commercial and
financial hub of entire Eastern India. Geographically, it is the gateway to the
North-Eastern states of India. It joins the North to the South, via the East.
The heritage, tradition and culture of Kolkata speaks for itself. Every street,
every road, every chowk, has its own stories in Kolkata. It has centuries old
history, which has seen major ups and downs throughout the timeline. Being the
capital of the East India Company, Kolkata owes much of its development to the
British East India Company. Having said that, Kolkata has also seen worst
conditions like the Bengal Famine during the British Era. It was the will power
and the inner strength of the city and the people itself, that it stood for
themselves, without any help from the ruling authority, and become one of the
biggest hub for everything in the entire country and proved its dominance in
the entire region.
In modern times, the state has gone through the partition,
and the aftermath of that. But still, it has the strong will to stand tall and
it did stood tall against all odds. Right after the partition of East Bengal
and West Bengal, major part of the resources either went to the East Pakistan
or exhausted during the 1971 war.
Kolkata has India’s second largest and India’s oldest stock
exchange, the CSE (Calcutta Stock Exchange). All the towns and cities, however
small or big, directly or indirectly depends on Kolkata.
According to a report, as of 2001, 0.81% of city’s working
population is engaged in primary sector (forestry, mining, etc.), 15.49% in
secondary sectors (Industries and factories), and 83.69% working in tertiary
sector (service industries).
Kolkata houses immigrants coming in search of livelihood from neighboring states like Bihar, Jharkhand, Uttar Pradesh, etc. Major population of these immigrants are employed in primary and secondary sectors.
Kolkata houses immigrants coming in search of livelihood from neighboring states like Bihar, Jharkhand, Uttar Pradesh, etc. Major population of these immigrants are employed in primary and secondary sectors.
Kolkata is home to India’s and South Asia’s first metro
rail. Banks like Uco bank, Allahabad bank, and United bank of India, was founded
in Kolkata and has headquarter in the city. Apart from that, some other reputed
companies, whose headquarter is in Kolkata are: ITC Limited, H R Group, Philips
India, CESC Limited, Birla Corporation, Bata India, Britannia industries,
Hindustan Motors, Exide Industries, Coal India Limited, Tata Steel and
Processing Limited, etc.
It is clear from the names of the companies itself that
Kolkata has a lot to offer and the investors realized it at very tender age of
Kolkata. They invested and made it the giant, it is today. The production may
or may not be done in the city but the management is done entirely from here.
The infrastructure and the availability of resources may not
be sufficient to put a new old economic sector industries like factories and
manufacturing units, but is has a great potential for the new economic sector
industries like IT and ITES.
It has National and International airports, Major Ports,
Terminating Railway Junction, Bus Depot Hub, which makes it accessible from
anywhere, by any means, and this gives it the strategic benefit of the location
and hence, the city became the headquarter material. Production and
manufacturing may be done anywhere else, but the main business is done here.
The people also are accustomed to the lifestyle. The growing phase of IT
sector, has proved that the city has potential to adapt to new changes.
The city is also a hub for banking and finance sector. A
financial hub, which after construction will be India’s second, is under
process in New Town.
The government allowed foreign direct investment, FDI, which
allowed the IT sector to boom. The DLF IT Park in New Town, has IT giants like
IBM, Ericsson, Accenture, Texas Instruments, Cisco, Intel Asia, Novell, Sun
Microsystems, etc.
Kolkata is one of the first Eastern Indian city to attract
the tech giant to set-up their foot in India. This opened up the opportunity
for the younger generation to be a part of the bigger picture.
The presence of actual manufacturing and production industries is less
in Kolkata. The products are manufactured in other places and is transported to
Kolkata via roadways, railways or waterways. The market is flooded by the
truckload of goods from the remote locations and satellite areas for business.
i.e. wherever the product may be produced, it is transported to the nearest hub
for business and other process.
The reason of flourishing market and booming economy is the
ease of doing business in a particular area. The ease of doing business report
of World Bank, put Kolkata in 17th position.
Development of New Kolkata, will ensure the development in coming times. The investors are directly investing into the development of the infrastructure, which will definitely reap profit in the future. It has been experimented before. The existing infrastructure is of the British era, which needs to be preserved. With the availability of opportunity, the further expansion shall be seen in the near future.
The city openly accepted the change, all the times. Time to
time, it lays down an innovative way of doing the business and getting the
things done, which later on is adopted by other places. The process of
obtaining the trade license is an example, which is unique in India.
This attitude has helped the city, stand firm during crisis
and helped it in the longer run. Whatever the case may be, however down the
economy falls, the city always managed to come back on track.
The development of city as smart city and using the cutting
edge technology, keeps it out of the crowd. After the British empire, when many
cities fallen down, Kolkata worked in a smart way to gain power.
It is been seen that accepting change and moving forward with it
is the best choice to make, which definitely helps in future and in present.
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