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Kolkata is also starting to become a major hub for the IT (Information Technology) industry.
With the formation of New Town at Rajarhat and extension of Salt Lake's Sector-V, Kolkata is rapidly turning into a pro-IT town.
The city's fortunes have looked up since the early nineties, coinciding with the liberalization of the Indian economy.
Its economy has been amongst the fastest growing in the country.
Several industrial estates like Taratolla, Kalyani, Uluberia, Dankuni, Kasba, Howrah are spread throughout the urban agglomeration. An export processing zone has been set up in Falta.
Specialized setups like the country's first Toy Park, and a Gem and Jewellery Park have also been established.Abject poverty mixes inexplicably with crumbling British Raj-era gems, sprawling gardens and historical colleges.Long known as the cultural capital of India, Kolkata continues to spawn generations of poets, writers, film producers and Nobel Prize winners.The landscape of the city is also fast changing with flyovers, gardens and several new commercial establishments.Kolkata city itself has expanded into its suburbs, with the Greater Kolkata stretching from Kalyani (in Nadia District) in North to Diamond Harbour in South (in the South 24 Parganas District).The historic Judgement was based upon an high level Expert Commitee findings.