Kolkata is “the city that got left behind”, according to The Economist, which asks: “Can India’s original powerhouse get its act together again?” It blames the Marxists who ruled the state of West Bengal – whose capital is Kolkata – for more than three decades. And it wonders if a “populist with a rural base” like the new chief minister, Mamata Banerjee, can turn around the economy.
Kolkata (formerly Calcutta) is not as rich as Mumbai or Delhi or Bangalore by some measures. None of the 57 Indian billionaires on the Forbes 2011 list is based in Kolkata. The richest man in Kolkata is Sanjiv Goenka, with an estimated net worth of $725 million, according to Forbes. He heads a $1.8 billion (in revenues) empire, the RP-Sanjiv Goenka Group, whose flagship is CESC, a power utility that has been providing electricity to Kolkata since 1899.Continue Reading