GE Cap to set up BPO centre in Kolkata

Even as the stock markets showed tremendous scepticism about a Congress-Left coalition at the Centre, West Bengal, the Left front bastion, is on course with its reforms process.

State information technology minister Manabendra Mukherjee today announced that the latest to join the ITES bandwagon in Kolkata are GE Capital and HSBC.

Both the companies had decided to set up BPO centres in the city and teams from respective companies would be visiting Kolkata to finalise on land requirements.

Mukherjee said, HSBC's chief operating officer (COO) along with its real estate team is expected next week. A team from GE Capital is expected around the same time.

Though the size of the call centres was not divulged, sources said, they would be large.

When asked about the stock market crash due to apprehension about Left Front's economic policy, Mukherjee allayed all fears and cited the example of West Bengal.

He said, "We all want to bring in investment and it is amateurish for the stock markets to react this way."

Credit rating agency, ICRA had also decided to set up its BPO outfit in Kolkata.

G D Gautama, IT secretary said, the total revenues generated by the IT and ITES sector in 2003-04 were to the tune of Rs 1,680 crore and figure would increase manifold by the end of the current financial year.

The target set by the IT department was 15-20 per cent of India's IT revenues by 2010. At present, West Bengal's share was at 3.4 per cent.

Mukherjee said, many more companies had evinced interest in coming to Kolkata and announcements would be made in instalments.

Mukherjee and his team from the IT department would embark on road shows from next month, in a bid to attract investors. The team would be visiting cities like Delhi, Mumbai, Bangalore, Chennai and Hyderabad, Chandrababu Naidu's tech hub.

The objective was to meet potential investors, opinion makers and the media. The selling point, apart from Kolkata's advantages like low cost of living and low attrition would be chief minister, Buddhadeb Bhattacharya.

"He is our strongest selling point" said Mukherjee, on Bhattacharya.

Mukherjee pointed out that the perception about the city had already started changing in its favour.

International publications like the Economist, Wall Street Journal and Far Eastern Economic Review featured Kolkata as an IT and ITES destination. Far Eastern Economic Review did a cover story on the subject.