Kolkata to emerge as a big financial centre by 2030: Additional chief secretary

West Bengal additional chief secretary, IT and electronics department, has said that Kolkata is likely to emerge as a major financial and IT hub by 2030, owing to its proximity to Singapore and Hong Kong

Kolkata is poised to emerge as a major financial centre by 2030, a senior government official said, on January 10, 2018. Quoting a study prepared by McKinsey Global Institute, Debasish Sen, additional chief secretary, IT and electronics department of the West Bengal government, said Kolkata was one of the top Indian cities, emerging as the epicentre of global financial activities by 2030.

See also: Kolkata Port Trust plans township policy

“Kolkata is in an intrinsically advantageous position. If Mumbai is geographically close to New York and London, Kolkata is even closer to Singapore and Hong Kong – the two international financial and business centres in Asia,” Sen said at a Confederation of Indian Industry (CII) event. Sen said that by virtue of its relative proximity to Singapore and Hong Kong, Kolkata stands a brighter chance to become a big IT hub.

“Not only do all IT majors have big presence at Salt Lake Sector V and Rajarhat New Town, the West Bengal government has come up with a centre of excellence in cyber security, at New Town. The planned Innovation Hub at Bantala, is also expected to be operational by the second half of 2019,” Sen added. The West Bengal government has also laid a special emphasis on developing a financial hub in Rajarhat New Town, where as many as 23 financial institutions, including several insurance companies have taken plots, Sen said. Seventeen acres have been earmarked for a fintech hub, Sen said, adding that harnessing technology in the best possible way, tops the West Bengal government’s priorities.


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