When Rounak, a software engineer in his mid-20s, received a job offer from a fintech start-up in Kolkata, he was hesitant. Having graduated and interned in Bengaluru, he viewed Kolkata’s job market and infrastructure as lacklustre. However, a month-long stay in his hometown to settle property matters began to change his perspective.
Within a few weeks, Rounak noticed a shift. Kolkata had evolved, albeit subtly, while he was away. Improved public transport and smoother roads made commuting more convenient. Promising regional job offers started filling his inbox. Swanky cafés, modern co-working spaces, and upcoming IT parks depicted a city undergoing a quiet but meaningful transformation. The news of the upcoming World Trade Centre in Kolkata was the icing on the cake
Curious about these changes, Rounak began digging deeper into the factors driving this progress. He was amazed to realize the picture wasn’t as gloomy as it seemed on the surface. While it was not an overhaul, he could feel the foundation was being laid for a bigger, brighter future.
Enhanced Public Transport Networks and Upcoming Airport Overhaul
Bypassing critical traffic bottlenecks in the city is now easier, thanks to the Parama Island and Maa flyover. The Kolkata Metro network expansion (the orange and green metro line) and a surge in electric bus numbers widened his smile.
The Kolkata airport is going to get direct metro connectivity, courtesy of the Yellow line, and it is also undergoing a major overhaul with terminal expansion and a new ATC tower coming up. Besides, there are other connectivity projects underway that are preparing the city for a future of infrastructure, industry, and innovation.
The Silent Growth of the IT Sector
Rounak, like many of his peers, had a poor view of the IT sector in Kolkata. But this time, he wasin for a surprise. While IT behemoths like Infosys and Cognizant are focusing more on expanding their Kolkata operations, many startups and new players have been hogging the headlines, of late.
The IT sector in Kolkata witnessed a remarkable 70% annual growth, leveraging recent govt initiatives and a growing ecosystem of innovation. New players like BluCocoon Digital and Somnetics have made strides on the Kolkata IT scene (focusing on AI and IoT).
Kolkata Port’s Direct China Service Boosts Trade
The Syama Prasad Mookerjee Port (formerly known as Kolkata Port) has received an encouraging response for its recently launched direct shipping service to China, in alliance with Pacific International Lines.
The service has drastically reduced the marine transit time to 15 days, saving plenty of time and resources. SMP Kolkata now gets a whopping 40% rebate on shipping-related charges.
Industrial Development to Augment the State Economy and Job Landscape
Of late, several industrial developments have taken place that will help improve the job scene in the state including Kolkata, while giving a much-needed boost to the state economy.
GlobalFoundries, a leading semiconductor chip maker is all set to develop a Global Capability Centre in the city. It will offer design, application and comprehensive semiconductor solutions. The project is expected to generate plenty of job opportunities and enable allied industries to grow.
In another landmark industrial development, Titagarh Rail Systems (TRSL) is gearing up to deliver the new train sets for the yellow line of Bengaluru Metro. The expected and revised delivery date is January 2025. TRSL will manufacture 34 train sets for the crucial route, aimed at decongesting city traffic.
A consortium of TRSL and Bharat Heavy Electricals Ltd has signed up with Indian Railways for manufacturing 80 train sets for Vande Bharat sleeper versions. The high-profile project pegged at INR 24,000 crore, has an estimated completion date of 2029. The TRSL-BHEL consortium in sync with the govt’s Make in India initiative will offer a huge boost to the industrial scene in West Bengal.
In another crucial development, Kolkata-based Texmaco Rail and Engineering has hinted at 40-45% growth, buoyed by ongoing export activities and a robust order pipeline. It is manufacturing over 800 wagons a month.
What Does the Future Look Like for Kolkata and WB?
Noted German brands are now eyeing business expansion in the state and 150 German brands are now operational here. Moreover, Bengal’s leather goods industry is witnessing a turnaround after the pandemic lowdown with the state contributing to 55% of the leather exports in India.
These developments have made the business icons and major entrepreneurs across diverse sectors upbeat about the growth prospects of Bengal. After a long lull, the ball has started rolling for Kolkata and West Bengal.
Final Words
Qualified professionals like Rounak now have many reasons to seek career opportunities in their hometown, marking a reversal of the “brain drain”. The developments in civic infrastructure, and transport network have gained momentum and the recent industrial developments have made people reconsider their earlier perception of Kolkata and West Bengal.
All of this points to one thing – the City of Joy is set to reclaim its glory, after a period of lull and stagnancy.
