Business Opportunity in Kolkata
Business Opportunity in Kolkata – A City with Huge Business Prospects in West Bengal, India
Kolkata, formerly known as Calcutta, is the capital of West Bengal state, India. It is the principal commercial, financial, cultural, and educational center of East India and located on the Hooghly river. It is India’s 3rd largest metropolitan city with a population of 14 million. Kolkata City is known as the economic hub of eastern India. The city is combining traditional occupations with modern industries and offering new business and investment opportunities.
Kolkata City has a large semi-skilled and un-skilled labor population along with knowledgeable workers. About two-fifths of the workers are employed in trade and commerce. It reflects the fact that the city’s economy is mercantile in nature. Other important occupations include public-sector service in government departments, and medical, educational and financial institutions. The private-sector services cover accountancy and credit firms, the stock exchange, legal services, educational services, medical services and different utility services.
Major Business Sectors
Kolkata is home to many industrial sectors. These sectors are operated by large public and private corporations. Major industrial and business sectors consist of agriculture, mining, steel, heavy engineering, electronics, electrical equipments, cable, leather, cement, pharmaceuticals, food processing, textiles and jute. Kolkata is also a major military port and the only city in eastern India to have an international airport. Different industrial units, operated by some huge Indian corporations such as Birla Corporation, ITC and Allahabad Bank, are located in Kolkata.
In recent years, real estate is a booming and flourishing business in Kolkata. Renowned multinational organizations like DLF and MGF have shown interest in Kolkata which has accelerated and increased the value of the real estate business of the city. Currently, there have been huge investments in the housing infrastructure sector and several new projects are coming up in the city.
In Kolkata, sectors such as oil, natural gas, petrochemicals, and food processing have attracted substantial investments. For creating new business opportunities and developing foreign investment area in Kolkata, the government has taken various programs and policies. The government offers a variety of loans and financial support for doing business.
The adoption of the ‘Look East’ policy by the government of India and the opening of Sikkim’s ‘Nathu La’ mountain pass located between India and China, has encouraged the South-East Asian countries to invest in Indian markets and has put Kolkata in an advantageous position.
IT and Online Business Sector
Kolkata is becoming a major center for IT (Information Technology) industry as IT sector is growing at 70% yearly, which is twice the national average. It has largely led the economic revival of Kolkata. Kolkata possesses a strong IT infrastructure and huge potential for IT companies. In 2014, the Internet and Mobile Association of India (IAMAI) has conducted a survey where Kolkata ranked third in terms of number of internet users (6.27 million). Mumbai ranked first with 16.4 million internet users and Delhi got second position with 12.15 million internet users. For the availability of a strong IT infrastructure, Online Business is also flourishing in Kolkata. The possibilities are huge for doing different types of Internet Marketing and Online businesses here.
Kolkata provides a variety of opportunities for businesses. The city also offers a greater scope of huge returns on investments. For more information about the business opportunity in Kolkata and how to start your own successful online business see, The Business Success Blueprint.
Credit : Khurshid Sharmin
Professional Writer at Advance IT Institute