Thaindian News

Kolkata, March 10 (IANS) In a bid to attract investments, West Bengal Chief Minister Mamata Banerjee Saturday inaugurated the International Financial Hub at the northern fringes of Kolkata and expressed confidence that the hub would boost the resurgence of Bengal.

“We all say that Kolkata is the cultural capital of the country and Mumbai is the financial capital of the country. But this International Financial hub in Kolkata will boost investments, employment, resources and the new resurgence of Bengal. It is a collective package,” said Banerjee, while addressing the inaugural programme.

The International Financial Hub at New Town, Kolkata will be a cluster not only for banks but also other financial institutions and financial service players to allow for economics of scale for carrying out diverse financial activities including banking, insurance and mutual funds and off shore banking.

The financial hub will be a part of the country’s ‘Look East’ policy and pivots on the concept that Kolkata is the eastern gateway of India and links India to South-East Asia.

“We are working very hard for the development of the state irrespective of various roadblocks and financial constraints. After this International Hub comes up, two lakh jobs will be created,” she said.

Banerjee stressed that her government is creating land banks for facilitation of industry in the area.

State Finance Minister Amit Mitra said the financial hub will open new doors of investment in the state.

“This financial hub will provide human capital, data mining, data ware housing, and banking sectors. We hope to see Kolkata leading the way in new banking software that will emerge from this hub.”

“In the next three-four years after this financial hub comes up, we hope to see a new world where Kolkata will be connected to every financial hub in the world, every financial bank in the world and every insurance company in the world,” Mitra said.