Financial hub to come up at Jyoti Basu Nagar

West Bengal will soon have a financial hub at New Town, renamed as Jyoti Basu Nagar, which is likely to attract an investment of Rs 16,000 crore.

The hub, will have a commercial space of 40 million sqaure feet, and is expected to create employment opportunity for 300,000 people. The project would be executed by the West Bengal Housing Infrastructure Development Corporation, a government undertaking, at an investment of about Rs 200 crore, said Gautam Deb, minister for housing public health engineering of West Bengal.

The financial hub will come up on nearly 300 acres and house several banking and financial institutions, stock exchanges and insurance companies apart from hospitality and educational institutions.

West Bengal finance minister Asim Dasgupta has already tabled the proposal to the state level bankers' committee, wherein all the financial institutions and banks were present. The state finance department has been made the nodal agency for the facilitation and marketing of the project. The hub will be a collaboration with the WBHIDCO, IT and telecom for the financial sector.