In this insight, I’ll discuss with you my thoughts on whether Kolkata is a good place to startup in 2024. And if it is, then what are the 25 best business ideas in Kolkata, West Bengal that you can start in 2024. By the way, we have discussed the following 11 small business ideas for Kolkata in this insight. And remaining 14 opportunities we’ve mentioned in business ideas list for Kolkata towards the end of the insight.
- IT services business
- Smartphone retail shop
- Biotech businesses
- Data analytics services business
- Food processing business
- Fast food restaurant chain
- Tea exports
- Accountancy firm
- Digital marketing agency based out of Kolkata
- Pet care businesses
- Silk saree export
Now, let’s assess and see if Kolkata is a good location to start a business in India.
Is it good to pursue business ideas in Kolkata in 2024?
Business ideas for Kolkata
Ummhh.. let’s assess.
Let’s start with digging into the history of business in Kolkata…
- Kolkata, previously known as Calcutta has always been a commerce and finance epicenter in India.
- Now this title has been shifted to Mumbai, but still Kolkata continues to be home to some of the largest private and public sector companies in India (Yes, in 2024!).
A few of these businesses, to the date, have their headquarters in Kolkata. Then what went wrong for Kolkata?
Post 1960s, the politics of the left wing in West Bengal and the Labour goonions (unions) are reportedly blamed for this “death of industry” in Kolkata.
Large businesses might not be a force like it used to be in the British governed India, but fast forward to 2024, roadside hawkers are a big force in Kolkata and drive around USD 80 Billion together in revenue. Just wanted to point this out because these hawkers are a problem for many in Kolkata (while for a segment hawkers are part of Kolkata’s culture & legacy). So, maybe you can think of some innovative business ideas to organize this segment and generate profits for yourself.
Are we saying, Kolkata is not good for starting business?
You must be wondering if we are saying that “Kolkata is not a good city to start a business in 2024?”.
Aren’t you?
Well, we are not saying that Kolkata is not good, but we can’t just give a decision yet. Decision making is all about assessing the situation from different angles.
So… shouldn’t we continue evaluating Kolkata’s potential as the right business destination?
We should, right?
Else, our business ideas for Kolkata in 2024 would not be personalised for people in Kolkata.
Let’s see Kolkata & West Bengal using the GDP lens…
- Kolkata, as you would already know, is the capital of West Bengal, which means it is the sixth largest economy in India in 2024.
- By the way, just for your knowledge, the top 5 Indian states in terms of economy in 2024 are Maharashtra, Tamilnadu, UP, Gujrat, and Karnataka.
- Huge GDP basically means high commercial activity, good business opportunities, and improved employment numbers as well.
We will not talk about economy or employment in this article, but only the best business ideas for Kolkata, and some more opportunities for other top tier two cities in West Bengal, 2024.
If it interests you, don’t miss the insight on startup business ideas for 2024.
Continuing our assessment of Kolkata as a good choice for starting a business in 2024
- West Bengal’s GDP is around USD 210 Billion. Out of this, it’s estimated that USD 150 Billion comes alone from Kolkata.
- That makes Kolkata, India’s 3rd largest city in terms of economy. Mumbai & Delhi are the top two economies with USD 300 Billion & USD 210 Billion respectively.
I was expecting Bengaluru to be ahead of Kolkata, but to my surprise, Kolkata is ahead of Bengaluru in terms of GDP output.
Big numbers!
So, I guess – from the GDP lens, yes Kolkata is a good place to start a business.
Do pay attention, I said “…to start a business”, I didn’t say, “to start YOUR business”.
Confusing?
See, whether a place is a good place to start your business or not is totally dependent on what your business is? Who are your target customers? What’s your short & long term vision? And you also need to factor in your existing resources and location benefits among several other factors. So, while Kolkata is a good city to start a business, but whether it would suit your business or not is totally contextual and dependent on your business ideas and domain.
Okay, but is Kolkata good for all the business ideas?
Is Kolkata really good for businesses?
If we assess the businesses in Kolkata, as per industry domains, Kolkata is not at all dependent on the primary sector businesses like agriculture, mining, or forestry.
- A big population in Kolkata is dependent on secondary sector businesses, reportedly 15%.
- Secondary sector businesses, if you are not already aware, comprises all the industrial businesses like chemical, battery, textile manufacturing, etcetera. So, if you are starting a business in Kolkata in these sectors then you would definitely find a tribe.
- And the largest segment of Kolkata’s economy is from the tertiary sector, often called the “services” industry.
Read our rare collection of retail business ideas for 2024.
What sort of businesses usually do well in Kolkata?
On a broad level, Kolkata is known for
- steel,
- heavy engineering,
- mining,
- minerals,
- cement,
- pharmaceuticals,
- food processing,
- agriculture,
- electronics,
- textile,
- jute, & of course,
- information technology companies.
So yeah, you can start a business in Kolkata in 2024 from the above domains to tap into the existing market, or you may create your own niche all from scratch.
But before you decide on a business idea to start in Kolkata, I would like to remind you again, what I always feel i.e., if you’re not disrupting the market with scale or innovation or both, then it makes sense to start a business in a domain that already has a market and fair margin as well, but comparatively less competition.
Always keep that in your mind when you are evaluating business ideas for Kolkata in 2024.
Did you explore the killer opportunities shared in our insight on manufacturing business ideas?
BTW.. an Inspiring FUN fact for entrepreneurs of Kolkata, West Bengal!
- Another fun fact, Kolkata’s GDP is close to Jeff bezos’s net worth.
- Jeff is the founder of the world’s largest e-commerce website- Amazon. And at the time of writing this post, he is also the world’s second richest person.with a net worth around USD 200 Billion.
Jeff’s business acumen and his thirst for cut-throat competition!!!
It’s admirable.
What would you do if you had that filthy big amount, if you were as rich as him?
The ideas in this blog are discussed briefly. If you need more comprehensive list, then explore best business ideas in India 2024.
What would I do?
I think if I had ample extra money, I would still choose to start a business. Something really creative and big in terms of impact. I would research about metaverse focused business ideas in 2024. I would have started a VR/AR led educational business primarily if I had no investment bottlenecks.
Anyways, I know most of us do not have anywhere close to even 1/10000 of what Jeff has already accumulated, which is sad.
So, let’s just discuss a few small business ideas in Kolkata which are neither too early, nor too late for 2024.
Ready?
Cool.
Here we go…
Top 25 startup business ideas in Kolkata for 2024
- So many large companies like ITC limited, ABP group, Khaitan, Berger Paints, Emami, Lux, Shyam Steel, Britannia were started and are yet Headquartered in this city.
- Kolkata is a hub for export/import, it has an international airport.
- Many national and international banks have their presence in Kolkata, including world bank.
- In 2019, Kolkata also made it to the World bank’s list of cities that are favorable for doing business and scored high for ease of doing business.
With that, Kolkata is definitely one of the best cities to start a business in India in 2024. So, let’s now discuss a few business ideas for Kolkata.
I’ve not shared the online business ideas, or electronic business ideas for Kolkata in this insight. This is because they are separately discussed in dedicated blogs for the same. Check them out, once you’re done with this collection of business ideas for Kolkata in 2024.
1. Start IT services related business ideas in Kolkata in 2024
IT services
The best business ideas for Kolkata residents in 2024 is to start in the IT sector, esp if you’re are Salt lake sector 5 dweller or residing in Newtown area.
Kolkata’s digital footprint is too dim right now and is in need of serious thrust.
Develop mobile apps, NFTs, websites, e-commerce stores for your customers.
2. Smartphone retail shop business ideas in Kolkata
Smartphone retail store
Another good business idea to start in Kolkata. Smartphones are by far the most sold electronic gadget, you can start retailing popular brands in any city of West Bengal, esp Kolkata, and start earning good profits. I understand that it’s a very simple business idea but it is not too late to start if you are opening a smartphone shop in Kolkata in 2024. Brick and mortars is still breathing, it is not gone.
Hey, I’ve a good curated list of wholesale business ideas too. Read it, if you’re interested in bulk deals.
3. Biotechnology based business ideas for Kolkata, 2024
BioTech businesses
If you’re looking for business ideas in Kolkata which is modern, cool, and holds the potential to be the next big startup from India, this business idea is for you! Personalised genomics and preventative healthcare startup business, tissue engineering & regenerative medicine startup, immunity boosting products r&d startup, cancer diagnostics center, etcetera.
4. Data analytics services company in West Bengal
data analytics
Healthcare, retail, political, sports, ecommerce, social media, finance data analytics startup, fraud prevention startup, etcetera
Are you intrigued by the biotech, and data analytics business ideas? Yes? Then you would love to collect our three different collection on:
5. Food processing business ideas in Kolkata
Food processing
Start fruits & vegetable powder manufacturing & packaging business; potato chips, flakes, french fries processed and packaging business; Sauce making business; fruit flavor beverages; ready-to-eat food businesses, etcetera.
I share a lot of business ideas on GrowthRomeo. Because I know, you entrepreneurs are hungry for ideas, it’s my duty to feed you. And so, for die hard foodies, I’ve put together a few really delicious food business ideas. Go lick those ideas 😉
6. Fast food restaurant chain in Kolkata
fast food restaurant chain
I’m a regular “paneer roll” consumer. And I see the fast food trend is now growing at a good speed all over India. In Kolkata, it is very affordable as well. You can start a fast food truck or restaurant chain in Kolkata, West Bengal.
7. Tea exports business from West Bengal
Tea Exports
Darjeeling, Jalpaiguri, Cooch Behar, Kishanganj, and other cities of North West Bengal are famous for producing high quality tea leaves. You can start an export company based out of Kolkata.
8. Open an accountancy firm in the finance hub of India – Kolkata
Tax & accountancy services
Though, Kolkata is the ex-financial capital of India but still a dominant city when it comes to accountancy related business ideas. Yes, there are a lot of companies that already do this business, but still you can find gaps and start serving small businesses at affordable rates. As the startup culture catches up in Kolkata, the demand for accountancy firms will rise as well.
9. Digital marketing ad agency business ideas for Kolkata, 2024
Digital Marketing agency
Help your customers promote their business or brand using email marketing, SEO, SEM, SSM, PR, Content Writing, Video Marketing, Meme marketing, Ad campaigns, etcetera.
More marketing business ideas are waiting for you!
10. Pet care business ideas for West Bengal focused on the new breed of India
Pet care business
One thing that I find fascinating about the parts of Kolkata where I visited is their love for Cats and Dogs. The part I hated was, I saw bit fat rats lying on roads as well. But Kolkata appears to love pets in general. I’ve seen people keeping rabbits, parrots, cats, and dogs. So, I feel a pet care services business would do good in Kolkata in 2024.
11. Silk Saree Export business from Kolkata in 2024
Saree export
West Bengal is in the top five silk producing states of India, and one of the largest producers and consumers of Silk sarees as well. Bengal manufactured sarees are in high demand not just in our country but abroad as well. You can start a saree export business right out of Kolkata.
Complete list of 25 small business ideas for Kolkata, 2024
- Small finance company
- Admission & counselling company
- Real estate consultancy business
- Waste management company
- Shopping malls business
- Gym, Yoga, Fitness Business
- Antiques business
- Travel, tourism, hospitality business
- On demand chef app
- Fashion boutique
- Laundary services
- Tiffin services
- Wedding agency
- Logistics & goods moving services
- IT services business
- Smartphone retail shop
- Biotech businesses
- Data analytics services business
- Food processing business
- Fast food restaurant chain
- Tea exports
- Accountancy firm
- Digital marketing agency based out of Kolkata
- Pet care businesses
- Silk saree export
Well, the list for opportunities doesn’t end here.
Not at all.
I’ve a mega list of business ideas with 277+ opportunities that you can start in 2024 😉 I recommend bookmarking that page. Also, if possible, you must share it with your WhatsApp family groups! Better than any good morning WhatsApp message at-least 😀
Not the end of business ideas for Kolkata…
I hope you found a suitable business idea for yourself to start your business in Kolkata in 2024
If you ask me, Kolkata is up for the digital disruption but I’m not sure whether it is the government or the old vibes of Kolkata or the low disposable income per capita, the IT adoption in Kolkata appears to be far below Pune, Bengaluru, Chennai, Delhi, Mumbai. In fact, my personal experience is that people of Kolkata lag behind even the Patnaites in terms of technology adoption.
A weird observation about Kolkata..
I mean, who doesn’t keep a digital payment option at stores in 2024? Last I visited, only malls and high-end hotels, or multi-chain restaurants had the POS, QR/UPI payment options. Roadside hawkers are totally reluctant to anything digital. While in Patna, you’ll find a pani-puri guy accepting Paytm/Google-Pay.
But yeah, Kolkata is far ahead of Patna in terms of IT parks, real-estate, manufacturing industries and a lot more.
By the way, we have a detailed article on business ideas in Patna. Also, a related blog is on business ideas for Bihar. Check it out if you’re a Bihari or share with your Bihari friend. Every Bihari has a Bengali friend 😉
Having said that, keep reading business ideas and explore business growth resources & strategies on GrowthRomeo.com
