At first, looking at the pristine marbled lions and imperial gates of the colonial Victoria Memorial, it is hard to imagine you’re not in England. Then, as you turn around, the sight of yellow ambassador taxis driving past screaming street-hawkers, tell you exactly where you are — Kolkata.
Calcutta, as it was previously known, was the seat of power for the British, before this title passed on to Delhi in 1911. Until this period, it served as the country’s commercial hub, and received a tremendous inflow of revenue and investment. Regarded as its golden era, Kolkata flourished economically during this time. A number of agricultural businesses set up base here, including the jute mills, that contributed generously to the city’s GDP. Simultaneously, these years also witnessed the inception of modern Indian literature and art in Kolkata, contributing to its status of being India’s cultural capital (one that it still retains).
Soon, the series of fortunes were followed by a sudden downfall — a result of India’s partition and the Great Bengal Famine of 1943. Small and large land-owners found themselves landless, which led to the collapse of Kolkata’s jute and engineering industries. The violence in Kolkata during the birth of Bangladesh in 1971 didn’t do much good to the city either.
It has taken almost two decades, nonetheless, the West Bengal capital has slowly, but steadily found its feet back on the ground. Today Kolkata’s GDP at US$150 billion ranks third after Mumbai and Delhi. This rise can’t be attributed to just one industry, but to many enterprises that wholly realised and utilised the potential of Kolkata. The only city of east India to have a port, the city offers efficient connectivity (along with air and rail) encouraging steel, heavy engineering and mining industries to thrive.
Amongst the bigwigs is Apeejay Surrendra Group, a company that’s been headquartered in Kolkata since 1951. Its businesses not only pan shipping and marine clusters but also retail, hospitality, real-estate and logistics. A firm with a strong presence across India, it receives its highest return on investment from its base hub itself. “The best performance of our businesses in the past 10 years has been from Kolkata. The iron, steel and marine cluster has tremendous scope here, thanks to the well-positioned port. In addition, the talent here has a high-intellectual capacity and the attrition rate is low,” said Karan Paul, Managing Director of Apeejay Surrendra Group. While the group’s brands such as Oxford bookstore and Park Hotels have made their presence across India, Paul continues to capitalise on the opportunities in Kolkata. The firm plans to invest ₹3,000 crores on the development of a marine cluster in addition to a major investment on the setup of new infrastructure (hospitality and residential) around the EM Bypass, a major road on the east side of Kolkata.
The resurgence of Kolkata as a powerful economic player is also thanks to its coal industry, which is run primarily by the mammoth Coal India Limited (CIL), an organised state owned coal mining corporate. While India is the third largest coal producing country in the world after China and USA, 81.1 per cent of India’s overall coal is produced by the firm. Coal India Limited started with producing 79 million tons of coal at its inception. Today, it manufactures 550 million tons of coal, out of which 173 million tons are imported. These figures make it the single largest coal producing company in the world. As I walked through their humble government styled office, I could hardly imagine the scale of the business the company generates, and this modesty reflected in my interaction with Devendra Prasad, General Manager of Coal India Limited. “Coal India Limited is a holding company with seven wholly owned coal producing subsidiary companies, one mine planning and consultancy company. We operate through 81 mining areas across West Bengal and nearby states such as Jharkhand, Madhya Pradesh and Chhattisgarh,” he said. When asked why Kolkata was chosen to establish the company’s headquarters in 1975, he said, “Proximity to the mines is one of the key mandates of our operations. The east of India prides itself with resourceful coal mines and the closest large city with excellent connections and skilled manpower is Kolkata.” Even though the city was chosen by default almost 40 years ago, it has managed to sustain a company that is the country’s third largest employer with 3.4 lac employees. “Known as the “city of joy” because of the pleasant temperament of Bengalis residing here, Kolkata has a positive work-culture. Most of the population speaks english and is very intellectually sound,” he added.
It is one of the few businesses in India that manages a higher demand than supply, and receives an average annual growth of 26 per cent. The company’s market capitalisation was estimated ₹1.952 trillion (about US$35.9 billion) making it India’s fifth most valuable company by market value. A recent PricewaterhouseCoopers study says that CIL has also recently become the sixth-largest mining company in the world, in terms of market capital.
In order to expand its coal footprint and expand its international business, Coal India has established Coal Videsh, making Kolkata even more significant in the global coal Industry. Currently, CIL has a wholly owned subsidiary in Mozambique, Coal India Africana Limitada (CIAL) for pursuing coal mining opportunities in that country. In addition, it has begun the process of picking coal companies as its prospective partners for international operations. The company is also evaluating acquisition of coal assets in Indonesia, Australia and USA and has set aside ₹60,000 million solely for the acquisition of international assets.
While speaking about the comeback of Kolkata, it is unfair to rule out the rapid urbanisation the city has undergone in the past few years. This includes the mushrooming of Rajarhat, a fast-growing planned satellite city of Kolkata. Satellite cities are a phenomenon across fast-growing urban areas of India such as Delhi and Pune, and Kolkata is no exception. The reason for the development of Rajarhat is the same as any other satellite city in India — the lack of space and resources within the city. Literally known as the shift of the city, Kolkata is moving east to Rajarhat. The area around Park Street remains the heart of the city; however, there is no new infrastructure available for the growth of new businesses.
Rajarhat is the information and technology hub of Kolkata, with companies like IBM, HCL technologies and Tata Communication Services operating here. Real-estate companies identified this opportunity and have hence begun exploring projects in the area. A number of residential complexes have sprung up in Salt Lake (area within Rajarhat), attracting employees of the companies around the locale. Rajarhat, also known as New Town is enabled with India’s first wifi road connectivity on the Rajarhat Main Arterial Road. A generational shift is also taking place, with young Kolkata moving to Rajarhat because of the better quality of life and higher standard of living offered here. A number of schools, hospitals and retail consortiums has followed the expansion of New Town’s residential zones.
There is no denying that Kolkata is still underestimated in terms of business, compared to Delhi and Mumbai. But it is unfair to overlook how the city has overcome the challenges it faced post-independence. Kolkata was the first metropolis in India to receive its own metro rail-system. It is also deemed to be the pioneering wifi enabled city of the country. An attractive investment zone, notable international and domestic IT companies, banks and BPOs have set base in Rajarhat. If people make the place, then Kolkata is winning too — the denizens are not only smart but also warm and humble.
As I hailed a yellow ambassador from the Victoria Memorial, I interacted with an interesting taxi driver who said that the city had a vibe of perseverance. I couldn’t help but notice the positivity in the air of this aptly titled city of joy. Kolkata’s revival is a story worth telling. Many challenges definitely persist, such as the lack of systems and ordinance, but it is safe to say that the city is a fighter and continues to rise after its fall.
WHAT TO SEE AND WHERE TO EAT
The city is well connected with yellow ambassador taxis, Uber and Ola operating efficiently, but hop on to a tram for a classic “Calcutta” feel.
A visit to Kolkata must begin at Park Street, the city’s foremost landmark that houses iconic restaurants and bars that have been around since the 1970s. Many little lanes diversify from Park Street such as Russel Street, Loudon Street and Middleton Row, names that instantly co-relate to Bengal’s colonial heritage. Along with restaurants and hotels, Park Street also has a number of prominent landmarks such as the Asiatic Society, an imperial building that houses a collection of almost 1,17,000 books and the headquarters of the Apeejay Surrendra Group.
Located at the Queens Way in Kolkata, is the glorious Victoria Memorial, a monument conceived by Lord Curzon as a tribute to Queen Victoria. The building is a stunning piece of royal British architecture. While an entrance to its courtyard will give a closer look at its facade and manicured lawns, it’s advisable to step inside the gallery. Its museum with photographs of Prince Albert and Queen Victoria is reminiscent of India’s British era. (timings – 5.30 am to 6:15 pm, entrance to Victoria Memorial Gardens is ₹10, entrance to Victoria Memorial Gallery is ₹200)
A polar opposite to the Victoria Memorial and possibly the origin of Kolkata’s name is the Kalighat temple, located in the area by the same name. While a number of religious Indians flock here to offer their prayers to mother goddess Kali for their family’s prosperity, it makes for an interesting visit to experience native Bengali culture. The three-eyed idol of mother Kali is enchanting, that’s if you manage to get passed the long queues before the shrine. If you’re faint-hearted, try not being there in the mornings, as you may witness to beheading of goats (a sacrifice to the mother goddess).
The author of the Indian National Anthem and perhaps one of the greatest polymaths of Indian art and contextual modernism, Rabindranath Tagore, hailed from Kolkata. His 18th century mansion on Rabindra Sarani has been converted into a museum to showcases exhibits from his life and art. From his connect with Japan to a gallery of paintings by his contemporaries, the museum is a fascinating insight into the inspirations behind Tagore’s admirable works.
Watch a sunset at Howrah Bridge, or take a boat-ride across the Hooghly for a local experience. The flower market below the bridge is enjoyable for flora lovers too.
If you wish to dine like a true Bengali, legendary restaurants around Park Street can’t be missed. These names have been around since the 1970s and are well-known for their signature dishes. Chello Kebabs at Peter Cat, Sizzlers at Mocambo and Chinese specials at Bar-B-Q are just a few to begin with. If you’re daring enough, do indulge in the street-food at Park Street. Tibetan momos, thupka, puchkas (Kolkata’s version of pani-puri, which are fried semolina balls eaten with spiced water) and jaal moodi (Kolkata’s version of the Maharashtrian bhel, that’s a mix of puffed rice and condiments) can be found at every corner, and must be eaten at your own risk.
Kolkata’s happy vibe is contagious. Bengali hospitality will find you, no matter where you are. This reflects in the offering of Bengali Sweets at every welcome. Traditional sweets can be purchased at Gupta Brothers and KC Das. These brands have branches across Kolkata.
WHERE TO STAY
NOVOTEL HOTEL AND RESIDENCES
A striking landmark, the curved Novotel building is located on the Major Arterial Road that connects Netaji Subhas Chandra Bose International Airport and Kolkata’s booming commercial centre at New Town
Rajarhat. The brand new property offers 347 rooms along with 48 service apartments. As the name suggests, the serviced apartments are fitted with separate kitchen areas. Novotel also provides female travellers with the La Femme category, equipped with in-room CCTV telephone and decorative additions (pink bathrobe and cushions). Named after French locations, the banquet rooms are The Eiffel Room, Lille, Lyon, Cannes and Marseilles and Le Jardin — a terrace space. The hotel even offers meeting options at its poolside and other guest areas. A great option for business travellers, considering its ideal location close to the IT hub of the city, the Novotel Hotel and Residences offers a superior experience enhanced by warm staff and commendable service. novotel.com
THE PARK HOTEL
Located on the iconic Park Street, the Park Hotel is synonymous
with Kolkata’s entertainment and lifestyle dimension. For business travellers looking for accommodation on this side of the town, the Park is quite ideal. It has 149 rooms and is known for its varied food and beverage outlets such as Roxy (lounge), the Street (street-styled cafe), the Bridge (all day diner), Zen (Pan Asian fine-dining), Saffron (contemporary Indian cuisine), Tantra (night-club) and Some place else (pub with live-music). The Park also houses Aura, its pool-side lounge that shares walls with its gym and spa. The hotel is styled unanimously with a modern design language that emulates across its reception, rooms and F&B outlets. It also has a sprawling 1,400 sqm of meeting space with its rooms namely Pine Hall, Rosewood Hall, Ebony Room and Banyan Room, which are all equipped with the latest projection and computing technology. A convenient yet luxurious option for a corporate traveller, the Park, with its entertainment edge can offer a complete travel experience. theparkhotels.com
THE OBEROI GRAND
The first hotel to be acquired by Rai Bahadur M.S. Oberoi, the Oberoi Grand is one of the most eminent buildings of the British era in Kolkata. Fondly known as the Grand Dame, the hotel is situated on the landmark Chowringhee Road (now known as Jawaharlal Nehru Road), near the city’s central business district. The property is known for its iconic 200 year old wooden piano and massive chandelier, that add to its old-world charm. The room categories range from Deluxe, Luxury to Premier,
while the suite categories are Deluxe, Luxury, Classic and Presidential. The Oberoi Grand is also home to three restaurants namely— the Chowringhee Bar, Ban Thai (award winning Thai cuisine) and La Terrasse (French bistro). Along with a spa and swimming pool, the hotel also offers experiences such as a guided city tour and European walk for the cultured traveller. It also houses 1,208 sqm of banqueting space and the largest pillar-less ballroom in the city. oberoihotels.com
