Kolkata has been considered as the financial, commercial and business hub of the Eastern India. Like most metropolitan cities, much of the economy of Kolkata comes from the tertiary sector. Even though the city has a history of being an economical front during the British Raj, Kolkata had failed to attract the interest of the investors for many years. This may be attributed to the communist government which was in power. But the conservative image of the city is changing gradually, and in 2014 it was ranked 32nd among 300 world cities according to a report by JP Morgan Chase.
The city has expanded in the recent years, giving a hand in the economy to accompany the old charm present there. Though you will often hear people say that there is a lack of appealing and lucrative jobs here, I beg to differ. In the last five years, the scenario has changed. But that’s not only that, the place never lacked the appeal to start with. Kolkata was once the capital of the British Raj and a former capital would never lack the appeal or the opportunities to start with.
If you are worried about the prospects of getting a good job in Kolkata, there are numerous avenues to different opportunities. Let us look at what the various economy sectors of the city have to offer towards the employment part.
- Banking and finance sector
The city has a known history related to the banking and finance sector. Kolkata is considered to be one of the important centres in the country for banking industry. Some of the large nationalised banks like Allahabad Bank, Uco Bank and United Bank of India have their headquarters in Kolkata.
There is a financial hub being built in New Town and is being associated the likes of Bandra-Kurla complex in Mumbai. In a few years, the place can be seen as one of the important centres of economy in the East. Also, a lot of opportunities for employment will be generated in the future.
- Government jobs
Everybody wants a Sarkari Naukri. Who doesn’t? There is every kind of job security that you can only imagine being in a private organisation. Government jobs nowadays offer good salary benefits as well after the new salary commission. Kolkata is the capital city and the administrative capital of West Bengal. This is the reason there are a lot of opportunities here for those who are seeking government jobs.
- Cultural economy
This is the oldest type of economy present in the city. Cultural economy can be related to all those things that are indigenous to the city. The charm of the old economy still thrives in the city and the businesses still hold to its tradition. Most of these businesses are family run and it history goes back to generations. Some of the popular sweetshops, publishing houses and cottage industries come under this economy.
- Tourism sector
Tourism sector has stagnated with the need to improve the tourism infrastructure. However, a certain part of the economy of the city can be attributed to the tourism industry. There are various local businesses and entrepreneurs associated with the industry. With the modernization of this industry, it is expected there will be a growth in the opportunities in the coming years.
- IT sector
With the creation of New Town in Rajarhat, it has become an IT hub in the eastern part of the country. More and more companies are coming to the city and have established their regional headquarters here. Some of the prominent names in the IT industry like Accenture, Cognizant, Delloite, etc. have set up their businesses here and interests have been shown by other multinationals to come here in the future. This will surely increase the employment opportunities in the city.
Even though the ease of doing business in Kolkata is not that great, there have been reforms initiated by the government which will pave the way for more investments in the future. This is why future growth of the city is positive albeit in a slow and steady manner.
Hasib is a professional writer working with one of the top job sites in India –naukri.com. He has experience working in the job industry and follows the job market closely; both private and government sectors. He has also published numerous articles that have helped professionals in their career advancement and professional success. Follow him @ twitter, Google+, LinkedIn