Editing Kolkata (section)

== Economy ==
{{Main|Economy of Kolkata}}
[[File:Tata Centre - 43 Chowringhee Road - Kolkata 2013-01-05 2429.JPG|thumb|[[Tata Steel]] building in Kolkata [[Central Business District|CBD]]]]
[[File:Kolkata skyline at night.jpg|300px|thumb| Kolkata old CBD skyline consisting [[State Bank of India|SBI]] Eastern HQ and [[Government of West Bengal|GoWB]] New Secretariat Building]]
Kolkata is the commercial and financial hub of [[East India|East]] and [[Northeast India]]<ref name="urbanprice" /> and home to the [[Calcutta Stock Exchange]].<ref name="CSE">{{cite web |publisher=Calcutta Stock Exchange Association |url=http://www.cse-india.com/cse_factbook.htm |title=Genesis and growth of the Calcutta Stock Exchange |access-date=26 April 2006 |archive-url=https://web.archive.org/web/20060419055547/http://cse-india.com/cse_factbook.htm |archive-date=19 April 2006 }}</ref><ref name="worldbank2016">{{cite web |url=https://www.worldbank.org/en/news/feature/2016/04/19/better-integrated-transport-modes-will-help-reinvent-kolkata |title=Better Integrated Transport Modes will Help Reinvent Kolkata |date=20 April 2016 |publisher=[[World Bank]] |access-date=9 February 2020 |url-status=live |archive-url=https://web.archive.org/web/20190327204243/http://www.worldbank.org/en/news/feature/2016/04/19/better-integrated-transport-modes-will-help-reinvent-kolkata |archive-date=27 March 2019 }}</ref> It is a major commercial and military port, and is one of five cities in eastern India (alongside [[Biju Patnaik Airport|Bhubaneswar]], [[Lokpriya Gopinath Bordoloi International Airport|Guwahati]], [[Imphal Airport|Imphal]], and [[Kushinagar International Airport|Kushinagar]]) to have an international airport. Once India's leading city, Kolkata experienced a steady economic decline in the decades following India's independence due to steep population increases and a rise in militant [[trade-unionism]], which included frequent strikes that were backed by left-wing parties.<ref name="bbceco" /> From the 1960s to the late 1990s, several factories were closed and businesses relocated.<ref name="bbceco" /> The lack of capital and resources added to the depressed state of the city's economy and gave rise to an unwelcome sobriquet: the "dying city".<ref>{{Cite news |first=Sudipta |last=Dutta |url=http://www.financialexpress.com/news/calcutta-chronicles/417579/ |title=Calcutta chronicles |date=1 February 2009 |newspaper=Financial Express |location=New Delhi |access-date=6 December 2011 |url-status=live |archive-url=https://web.archive.org/web/20130615141012/http://www.financialexpress.com/news/calcutta-chronicles/417579 |archive-date=15 June 2013 }}</ref> The city's fortunes improved after the [[Economy of India|Indian economy]] was liberalised in the 1990s and changes in economic policy were enacted by the West Bengal state government.<ref name="bbceco" /> Recent estimates of the economy of Kolkata's metropolitan area have ranged from $150&nbsp;to&nbsp;$250&nbsp;billion ([[Purchasing power parity|PPP]] GDP), and have ranked it [[List of cities by GDP|third-most productive metro area]] of India.<ref name="gdp">—{{cite web |title=Global city GDP 2014 |url=https://www.brookings.edu/research/global-metro-monitor/ |publisher=[[Brookings Institution]] |date=22 January 2015 |access-date=4 March 2017 |url-status=live |archive-url=https://web.archive.org/web/20170525113815/https://www.brookings.edu/research/global-metro-monitor/ |archive-date=25 May 2017}}<br />—{{cite web |title=Global city GDP rankings 2008–2025 |url=https://www.ukmediacentre.pwc.com/imagelibrary/downloadMedia.ashx?MediaDetailsID=1562 |publisher=[[Pricewaterhouse Coopers|PwC]] |access-date=16 December 2009 |archive-url=https://web.archive.org/web/20110504031739/https://www.ukmediacentre.pwc.com/imagelibrary/downloadMedia.ashx?MediaDetailsID=1562 |archive-date=4 May 2011}}<br />—{{cite web |title=India's top 15 cities with the highest GDP Photos Yahoo! India Finance |url=https://in.finance.yahoo.com/photos/the-top-15-indian-cities-by-gdp-1348807591-slideshow/the-top-15-indian-cities-by-gdp-photo-1348807055.html |archive-url=https://web.archive.org/web/20141009131024/https://in.finance.yahoo.com/photos/the-top-15-indian-cities-by-gdp-1348807591-slideshow/the-top-15-indian-cities-by-gdp-photo-1348807049.html |archive-date=9 October 2014 |publisher=[[Yahoo! Finance]] |date=28 September 2012 |access-date=27 March 2017 }}</ref>

Flexible production has been the norm in Kolkata, which has an [[informal sector]] that employs more than 40% of the labour force.<ref name="spatialchange" /> One unorganised group, [[Hawkers in Kolkata|roadside hawkers]], generated business worth {{INRConvert|87.72|b|year=2005}} in 2005.<ref name="Telegraphhawker">{{cite news |url=http://www.telegraphindia.com/1061130/asp/frontpage/story_7071031.asp |title=Hawkers stay as Rs. 265 crore talks |access-date=16 February 2008 |last=Ganguly |first=Deepankar |newspaper=The Telegraph |location=Kolkata |date=30 November 2006 |archive-url=https://web.archive.org/web/20070927200645/http://www.telegraphindia.com/1061130/asp/frontpage/story_7071031.asp |archive-date=27 September 2007 }}</ref> {{As of|2001}}, around 0.81% of the city's workforce was employed in the [[Primary sector of the economy|primary sector]] (agriculture, forestry, mining, etc.); 15.49% worked in the [[Secondary sector of the economy|secondary sector]] (industrial and manufacturing); and 83.69% worked in the [[Tertiary sector of the economy|tertiary sector]] (service industries).<ref name="urbanprice" />{{rp|19}} {{As of|2003}}, the majority of households in slums were engaged in occupations belonging to the informal sector; 36.5% were involved in servicing the urban middle class (as maids, drivers, etc.) and 22.2% were [[Wage labour|casual labourers]].<ref name="kundu" />{{rp|11}} About 34% of the available labour force in Kolkata slums were unemployed.<ref name="kundu" />{{rp|11}} According to one estimate, almost a quarter of the population live on less than {{INRConvert|27}} per day.<ref name="2014 Indian general election, Calcutta">{{cite news |url=https://www.thetimes.co.uk/tto/news/world/asia/article4086790.ece |title=End is nigh for Gandhis after India's marathon poll |work=[[The Times]] |date=12 January 2014 |access-date=12 May 2014 |archive-url=https://web.archive.org/web/20140512160254/http://www.thetimes.co.uk/tto/news/world/asia/article4086790.ece |archive-date=12 May 2014 |url-status=live }}</ref>

Major manufacturing companies in the city are [[Alstom]], [[Larsen & Toubro]],<ref>{{cite web |last=Singh |first=Ruchira |date=24 June 2014 |title=L&T relocates mining division to Kolkata; sees revenue rising |url=https://www.livemint.com/Companies/JTAOkLSjKzxeLGzfOb1DfM/LT-relocates-mining-division-to-Kolkata-sees-revenue-risin.html |access-date=20 September 2021 |website=mint |language=en |archive-date=21 September 2021 |archive-url=https://web.archive.org/web/20210921021117/https://www.livemint.com/Companies/JTAOkLSjKzxeLGzfOb1DfM/LT-relocates-mining-division-to-Kolkata-sees-revenue-risin.html |url-status=live }}</ref> [[Fosroc]],<ref>{{cite web |title=New Fosroc Facility in India {{!}} Fosroc |url=https://fosroc.com/news/new-fosroc-facility-in-india |access-date=20 September 2021 |website=fosroc.com |archive-date=9 January 2018 |archive-url=https://web.archive.org/web/20180109132739/http://www.fosroc.com/news/new-fosroc-facility-in-india/ }}</ref> [[Videocon Telecom|Videocon]].<ref>{{cite web |title=Videocon Starts Manufacturing Mobiles at Kolkata Unit |url=https://gadgets.ndtv.com/mobiles/news/videocon-starts-manufacturing-mobiles-at-kolkata-unit-733828 |access-date=20 September 2021 |website=NDTV Gadgets 360 |date=29 August 2015 |language=en |archive-date=4 November 2021 |archive-url=https://web.archive.org/web/20211104064349/https://gadgets.ndtv.com/mobiles/news/videocon-starts-manufacturing-mobiles-at-kolkata-unit-733828 |url-status=live }}</ref> As in many other Indian cities, information technology became a high-growth sector in Kolkata starting in the late 1990s; the city's IT sector grew at 70% per annum—a rate that was twice the national average.<ref name="bbceco" /> The 2000s saw a surge of investments in the real estate, infrastructure, retail, and hospitality sectors; [[List of shopping malls in Kolkata|several large shopping malls]] and hotels were launched.<ref>{{cite news |first=Sonalee |last=M. |title=Kolkata's retail story |url=http://www.thedailystar.net/newDesign/news-details.php?nid=177844 |access-date=11 December 2011 |newspaper=The Daily Star |location=Dhaka, Bangladesh |date=16 March 2011 |archive-url=https://web.archive.org/web/20120111093014/http://www.thedailystar.net/newDesign/news-details.php?nid=177844 |archive-date=11 January 2012 |url-status=live }}</ref><ref>{{cite news |last=George |first=Tunia Cherian |title=Hospitality sector gets a boost from buoyant economy |url=http://www.thehindubusinessline.in/2006/01/01/stories/2006010102500200.htm |archive-url=https://web.archive.org/web/20111024010101/http://www.thehindubusinessline.in/2006/01/01/stories/2006010102500200.htm |access-date=11 December 2011 |newspaper=The Hindu Business Line |location=Chennai |date=1 January 2006 |archive-date=24 October 2011 }}</ref><ref>{{cite news |first1=Rohit |last1=Khanna |last2=Roy |first2=Monalisa |url=http://www.financialexpress.com/news/Kolkata-real-estate-players-project-40-growth-by-April/409526/ |title=Kolkata real estate players project 40% growth by April |access-date=11 December 2011 |newspaper=Financial Express |location=New Delhi |date=12 January 2009 |url-status=live |archive-url=https://web.archive.org/web/20130615173428/http://www.financialexpress.com/news/Kolkata-real-estate-players-project-40-growth-by-April/409526 |archive-date=15 June 2013 }}</ref><ref>{{Cite news |last=Roy Chowdhury |first=Joy |title=Looking East |url=http://www.expresshospitality.com/20111031/management01.shtml |archive-url=https://web.archive.org/web/20120426010101/http://www.expresshospitality.com/20111031/management01.shtml |work=The Express Hospitality |location=New Delhi |access-date=11 December 2011 |date=October 2011 |archive-date=26 April 2012 }}</ref><ref>{{cite news |title=West Bengal industrial growth rate higher than national average |url=http://articles.economictimes.indiatimes.com/2008-12-01/news/28383530_1_food-processing-industrial-growth-rate-sectors |access-date=11 December 2011 |newspaper=Economic Times |date=1 December 2008 |location=New Delhi |archive-url=https://web.archive.org/web/20120114105933/http://articles.economictimes.indiatimes.com/2008-12-01/news/28383530_1_food-processing-industrial-growth-rate-sectors |archive-date=14 January 2012 |url-status=dead }}</ref> Companies such as [[ITC Limited]], [[CESC Limited]], [[Exide Industries]], [[Emami]], [[Eveready Industries India]], [[Lux Industries]], [[Rupa Company]], [[Berger Paints]], [[Birla Corporation]], [[Britannia Industries]] and [[Purushottam Publishers]]<ref>{{Cite news |last=Roy Chowdhury |first=Joy |title=Looking East |url=https://www.himalayanwritingretreat.com/traditional-publishers-in-india/ |location=Kolkata |access-date=4 January 2022 |date=September 2009 |archive-date=4 January 2022 |archive-url=https://web.archive.org/web/20220104073111/https://www.himalayanwritingretreat.com/traditional-publishers-in-india/ |url-status=live }}</ref> are headquartered in the city. [[Philips]] India, [[PwC India]], [[Tata Global Beverages]], and [[Tata Steel]] have their registered office and zonal headquarters in Kolkata. Kolkata hosts the headquarters of two major banks: [[UCO Bank]], and [[Bandhan Bank]]. [[Reserve Bank of India]], [[State Bank of India]] have its eastern zonal office in Kolkata. [[India Government Mint, Kolkata]] is one of the four mints in India. Some of the oldest public sector companies are headquartered in the city such as the [[Coal India]], [[National Insurance Company]], [[Garden Reach Shipbuilders & Engineers]], [[Tea Board of India]], [[Geological Survey of India]], [[Zoological Survey of India]], [[Botanical Survey of India]], [[Jute Corporation of India]], National Test House, [[Hindustan Copper]] and the [[Ordnance Factories Board]] of the [[Ministry of Defence (India)|Indian Ministry of Defence]].