Re-energize Kolkata as a commercial capital demands a sophisticated approach that holds its historical robustness, identifies current setbacks and challenges and takes a hold on future opportunities. These are some inclusive plans to pull off this objective:
Development of base framework
Transportation
There are already sufficient transportation facilities in Kolkata. By improving the connectivity of rail, road and air and innovating this transportation; Kolkata can start its modernisation. The full expansion of the metro rail network can finally reduce the overcrowding traffic.
Logistics and Port
The infrastructural development of Kolkata port is very much essential for becoming one of the important commercial hubs. In this context, Kolkata port, Haldia port, plays a vital role in logistic and transportation management. By restructuring the Kolkata port for handling large cargo volume and creating a logistical framework where the trade can be made in a smoother way.
Initiatives to form Smart Cities
Government needs to execute smart city technologies to magnify the urban living as well as the business operations which take place in the city. Having said that, New Town Kolkata Development Authority also known as NKDA has administered New Town as a Smart City (Green city and Solar City). The government of India has declared New Town as a “Smart Green City” and “Solar City”.
Variegation of Economics
Information Technologies
Developing IT hubs and innovation centres in Kolkata is another way to push its commercial growth to the next level. The city of joy must be promoted as an axis of information technologies. Government should prioritize and entice technology giants to come and create their stations which will create jobs in the city. In the year of 2022, the Government has invested approximately ₹2000 Crores to make the Bengal Silicon Valley project. Government also encourages entrepreneurs by funding them or providing resources to build their startup in the city. That is how new business opportunities can be created and Kolkata can become more commercial city in the competitive era.
Reassuring the research and development
Research and Development has always been an integral aspect of a city which is trying to regain and boost its economic structure. There are many renowned academic institutes such as Bose Institute, CSIR, Indian association of cultivation of science and others situated in Kolkata. Government needs to find a way to collaborate with them to move forward with research and development. Thus, these research hubs will entice investments as well as talents which will end up creating leading-edge products.
Rejuvenating conventional Industries
Industries like tea, textiles, jute; these have always been a secure heritage industry in Kolkata. However, in the last few years, these industries were facing tremendous losses and quite a few factories have shut down. By modernizing these industries with the practice of sustainability and by implementing modern technologies, the government can amplify its ambitious nature in the global array.
Developing Skills and Upgrading Education Sector
Enhancement of Educational Institutes
In order to build a skilled workforce in any industry, the government has to invest its time and money for the betterment of quality education. In schools and colleges, there should be an upgraded and useful curriculum, infrastructure which will guarantee better and proper skills among the students which nowadays modern-day employment seeks very highly.
Advancement of Vocational training
In today’s world, a practical skill set is very much required for an individual. Government should arrange vocational training in schools. Thus, an individual can learn needed technological, practical skills which will help them to enter various industries. On the other hand, by mapping the needs of native economy, the government can join hands with high end industries to create an applicable training module which will end up boosting the employment rate.
Refining the quality of people lives
Development of economic housing
Small hut sized house and skyscraper – Kolkata has it both. However, by ensuring the quality as well as economic housing complexes will gradually captivate the eyes of various professionals. For instance, “, the Government of West Bengal undertook its ambitious four-pronged housing sector reform initiative following the liberalization, privatization, and globalization” for develop economic or community housing. Cleans and quality living will ensure Kolkata be one of the wanted and attractive places for numerous workforces.
Elevating the healthcare provision
For a thriving city like Kolkata, a standard healthcare sector is one of the most crucial aspects. For the betterment and well-being of every resident of the city; government needs to put their attention by investing to upgrade the healthcare module. The service of every government and private hospital needs to be revamp as these aspects are not to be neglected for the sake of a productive workforce.
Trading and investments
Special Economic Zone (SEZ)
SEZ, also known as a special economic zone, is an array where trade and business laws are different from the rest of the country. By initiating SEZ in the city, investment from abroad can come to form a business. On the other hand, undemanding regulations and incentives on tax slabs can attract various business ventures which will create employment. SEZ can become a centre activity for international trade and also for manufacturing and export.
Robust relationship in Trading
Global trade exhibitions and business fares are a great spot to build business partnerships and trade relations with other countries. By attending as well as organizing global business fairs in the city will make way for new investors and it can showcase the potential the city holds.
Boosting tourism and culture
In India, Kolkata is beaming with cultural heritage and historical landmarks. By upgrading infrastructure in all the tourist landmarks, it can boost tourism and generate revenue better than before. Transportations, accommodations, high end security for the tourist will generate good word of mouth among the visitors, resulting in earning profits. Kolkata, the city of joy, is indeed a vibrant city with its art, tradition and festivals. The city Kolkata has an abundance of local commemoration which can be promoted to attract foreign visitors to boost its tourism. On the other hand, by promoting regional art and their artisans, they can establish a pleasing yet strong honour among the citizens.
Revamping Kolkata as a commercial capital will be dependent on various infrastructural as well as, social decisions. By initiating cutting-edge technologies to reconstruct its areas, it will attract various business compositions and business tycoons to select this city as their next business venture. Kolkata has all its resources which a city needs to thrive commercially and socially, it just needs to be
cultivated in a resourceful way.
Write and Win: Participate in Creative writing Contest & International Essay Contest and win fabulous prizes.
