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For more information regarding our capabilities within this market or to inquire about current business requirements in this market, please contact:

Tomiko Chan
Director | Partner Development Asia
+ 85 281 99 9052 | Ext: 836
Tomiko.Chan@icoreglobal.com.

Raja Seetharaman
Managing Director
Partner Development Asia
+ 85 281 99 9052 | Ext: 846
Raja.Seetharaman@icoreglobal.com.

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Market Reports

Kolkata Q1 2012

Kolkata

Kolkata, also known as Calcutta, is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River, it is the principal commercial, cultural, and educational center of East India, while the Port of Kolkata is India's oldest port as well as its sole major riverine port. As of 2011, the city had 4.5 million residents; the urban agglomeration, which comprises the city and its suburbs, was home to approximately 14.1 million, making it the third-most populous metropolitan area in India. As of 2008, its economic output as measured by gross domestic product ranked third among South Asian cities, behind Mumbai and Delhi.  As a growing metropolitan city in a developing country, Kolkata confronts substantial urban pollution, traffic congestion, poverty, overpopulation, and other logistic and socioeconomic problems. 

In the late 17th century, the three villages that predated Kolkata were ruled by the Nawab of Bengal under Mughal suzerainty. After the Nawab granted the East India Company a trading license in 1690, the area was developed by the Company into an increasingly fortified mercantile base. Nawab Siraj ud-Daulah occupied Kolkata in 1756, and the East India Company retook it in the following year and by 1772 assumed full sovereignty. Under East India Company and later under the British Raj, Kolkata served as the capital of India until 1911, when its perceived geographical disadvantages, combined with growing nationalism in Bengal, led to a shift of the capital to New Delhi. The city was a center of the Indian independence movement; it remains a hotbed of contemporary state politics. Following Indian independence in 1947, Kolkata—which was once the center of modern Indian education, science, culture, and politics—witnessed several decades of relative economic stagnation. Since the early 2000s, an economic rejuvenation has led to accelerated growth. 

Culture in Bengal and India, Kolkata has established local traditions in drama, art, film, theatre, and literature that have gained wide audiences. Many people from Kolkata—among them several Nobel laureates—have contributed to the arts, the sciences, and other areas, while Kolkata culture features idiosyncrasies that include distinctively close-knit neighborhoods (paras) and freestyle intellectual exchanges (adda). West Bengal's share of the Bengali film industry is based in the city, which also hosts venerable cultural institutions of national importance, such as the Academy of Fine Arts, the Victoria Memorial, the Asiatic Society, the Indian Museum, and the National Library of India. Though home to major cricketing venues and franchises, Kolkata differs from other Indian cities by giving importance to association football and other sports.