subject: Kolkata Attractive Investment Destination Of Eastern India [print this page] Kolkata, also known as Calcutta, is the capital of the Indian state of West Bengal. It is India's 3rd largest urban agglomeration with a population of 14 million and is a metropolitan city. Kolkata City is full of life and vigor, combining traditional occupations with ultra-modern industries. Kolkata is the main financial and commercial hub of eastern India. Kolkata has beautiful heritage structures and colonial buildings.
There is a complete superfluity of traditional arts and crafts in the city. The element of safety distinguishes Kolkata from other metropolitan cities. Kolkata is referred as to a tourist friendly, resurgent and vibrant city. Kolkata is a major military port and commercial city, and it is the only city in the region which has an international airport. Informal sectors such as hawkers have comprised more than 40% of the labor force. Along with knowledgeable workers and blue collared people, Kolkata City has a large semi-skilled and un-skilled labor population. In current years, there have been huge investments in the housing infrastructure sector and several new projects are coming up in the city.
Kolkata has become home to various industrial units which are operated by huge Indian corporations such as ITC, Birla Corporation and Allahabad Bank. Kolkata has been put in an advantageous position because of the adoption of the Look East policy by the government of India which has led to the opening of the Nathu La Pass in Sikkim as a border trade-route with China. This has brought huge interest from South East Asian countries to invest in Indian markets.
Kolkata has pioneered metro railways in India. The Salim Group of Indonesia has stirred the property market in Kolkata with is collaboration with Universal Success Group and Uni-tech for a mutli-product SEZ, an industrial estate for medium and small enterprises and a chemical industrial estate. It is also engaged in investments in bridges, expressways, townships and commercial blocks for training institutes, land losers, and a health and knowledgeable city are set to be completed in the coming 15 years. Currently, real estate is a booming business in Kolkata. Multinational organizations like DLF and MGF have shown interest which has increased the value of the real estate business in Kolkata.
There are major IT companies flourishing in Kolkata. The IT sector has largely led the economic revival of Kolkata, with the IT sector growing by 70% on a yearly basis. This is twice the national average. Various IT companies like Acumen Soft Technologies, Alliant Technologies PVT Ltd and Calinnovations are flourishing in Kolkata. There is huge potential for IT companies in Kolkata. Major leading IT companies have also responded in a positive way. Kolkata provides quality power and strong infrastructures necessary for IT operations.
Since the economic liberalization process in 1991, sectors such as petrochemicals, food processing, oil and natural gas have attracted sizeable investments. There are various government programs and policies implemented for foreign investment development in Kolkata. Government offers various loans, subsidies and attractive power rates. Various organizations have been successful in bringing favorable investment terms with state government.
Thus, Kolkata offers number of foreign investment opportunities with a greater scope of huge returns on investments.
by: Kamal Poria
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