The city changed its name from Calcutta to Kolkata in 2001. Kolkata, India’s second largest city, has inhabitants who are living in poverty and, in the eyes of most westerners, there is human suffering. But Kolkata is regarded as India’s intellectual and cultural capital.
Kolkata was the most developed and the most industrialised city in India till the late seventies. However, Kolkata witnessed an economic decline from the eighties till the early nineties.
Kolkata lost its title as India's capital city a century ago, as well as the position of the country's industrial engine in the 1950s. By the early 1970s visitors were making apocalyptic predictions of plagues and famine.
Kolkata is eastern India’s main financial, commercial and business centre. Kolkata hosts India’s oldest and second largest stock exchange. Kolkata is home to a major port, an international airport and many nationally and internationally reputed colleges and institutions, aimed at supplying a highly skilled workforce. Kolkata also has India’s first metro railway service.
Kolkata also celebrates various festivals such as:
Kolkata has numerous different religions. The majority of people inhabiting Kolkata are Hindus. Muslims are in the minority. Other religions include Christians, Buddhists, Sikhs and Jains.
Kolkata is India’s second largest contributor to the national GDP. In a study conducted in 2014 Kolkata was ranked 32 out of 300 cities worldwide, it was based on two economic indicators, annualised growth rate of real GDP per capita and annualised growth rate of employment. These indicators were combined into economic performance index and using this the 300 cities were ranked. Kolkata’s annualised growth rate of real GDP for 2013-14 is 2.5% and annualised growth rate of employment is 4.7%.
The table below shows the results of the study of Global Metro Monitor 2014 including 6 Indian cities.