Description : Kolkata (/kɒlˈkɑːtə/ or /kɒlˈkʌtə/, also rendered Calcutta /kælˈkʌtə/, the official name until 2001) is the capital of the Indian state of West Bengal. Located on the eastern bank of the Hooghly River, the city is approximately 80 kilometres (50 mi) west of the border with Bangladesh. It is the primary business, commercial, and financial hub of Eastern India and the main port of communication for North-East India, as well as having the third-largest urban economy of India. Kolkata is home to 9,600 millionaires and 4 billionaires with a total wealth of $290 billion. According to the 2011 Indian census, Kolkata is the seventh-most populous city in India, with a population of 4.5 million residents within the city limits, and a population of over 14.1 million residents in the Kolkata Metropolitan Area, making it the third-most populous metropolitan area in India. The Port of Kolkata is India's oldest operating port and its sole major riverine port. Kolkata is known as the "cultural capital of India" for the city's historical and architectural significance. In the late 17th century, the three villages that predated Calcutta were ruled by the Nawab of Bengal under Mughal suzerainty. After the Nawab granted the East India Company a trading licence in 1690, the area was developed by the Company into an increasingly fortified trading post. Nawab Siraj ud-Daulah occupied Calcutta in 1756, and the East India Company retook it the following year. In 1793 the East India company was strong enough to abolish rule, and assumed full sovereignty of the region. Under the company rule and later under the British Raj, Calcutta served as the capital of British-held territories in India until 1911, when its perceived geographical disadvantages, combined with growing nationalism in Bengal, led to a shift of the capital to New Delhi. Calcutta was the centre for the Indian independence movement. Following independence in 1947, Kolkata, which was once the centre of Indian commerce, culture, and politics, suffered many decades of political violence and economic stagnation.
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