India's Second Financial Hub at Kolkata?

Kolkata: West Bengal Chief Minister Mamata Banerjee laid the foundation stone of a financial hub at Rajarhat on the outskirts of Kolkata, the second such hub in India after Bandra Kurla in Mumbai. Terming the project as Global Eye, Banerjee said, "This project will attract huge investment and has potential to generate 20,0000 jobs and will become an iconic project like WalMart and London Eye." The first phase of the project was unveiled with 25 acre which was ready to be distributed on a 99-year lease to nine financial institutions. She said the earlier Left Front government had conceived the plan which was to be implemented by the private sector, but nothing moved. "After we took over, we decided to implement the project on our own through HIDCO (West Bengal Housing Infrastructure Development Corporation) though we are passing through severe financial constraints," Banerjee said. The consulate representatives of USA, China and Britain were present on the occasion. The chief minister told industrialists that land would not be a problem for investors in the state which was ready to invite EoI (Expression of Interest) for 1,000 acre industrial land near Kharagpur for distribution from its land bank. Banerjee said the State Bank of India has expressed interest for a training institute for which 10 acres would be given. The Calcutta Stock Exchange also has about five acres at the financial hub.