Centre keen on international financial hub in New Town | delhi | Hindustan Times
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Centre keen on international financial hub in New Town

delhi Updated: Aug 24, 2012 14:13 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The Centre is doing its bit to ensure that the international financial hub being planned in New Town comes up without a hitch.

On Thursday, the Union urban development ministry and the West Bengal government held a meeting in the Capital to promote the setting up of the financial hub where they urged leading financial institutions to set up their offices in the newly planned hub.

Saugata Roy, minister of state for urban development and state urban development minister Firhad Hakim tried to convince leading financial institutions about the benefits of setting up their ventures in the new upcoming area.

"Now Kolkata has a city centre, all financial institutions are there. There is no place to expand, there is no place to breathe in the centre of Kolkata as in other big cities," Roy said in the meeting and suggested that financial bodies could shift part of their business to the new area.

The idea, Roy said is to have a cluster approach with regards to financial institution. The project is spread in 7000 acres of which 400 acres was the area marked for the Central Business District.

"Basically it is a West Bengal government project and we as government of India cannot be partial to anything. But as a part of our overall plan to help in the setting up of satellite towns and decongestion of the major cities of this country we have taken this initiative," Roy said.

The international financial hub is also in close proximity to the airport, and would soon have metro connectivity also.

Bank of Hyderabad, Andhra Bank, Canara Bank, Bank of Baroda, SIDBI and other financial institutions were present in Thursday's meeting.

The hub could be the first big-time project in the Trinamool Congress regime.