Versuchen GOLD - Frei

Why Kolkata's Markets Have Lost Their Buzz

Mint Kolkata

|

March 05, 2025

The turmoil in Bangladesh and its tense relations with India are taking an economic toll. A ground report

- Ritwika Mitra

As the sun set on Marquis street in Kolkata, Mohammad Mazurul Islam, 75, and his wife Rashida Begum, 56, strolled around to check if they had missed out on buying any item from the list that they had made to take back home. They make two annual visits to the city for health checkups, and shop for themselves and their families. The duo were set to return to Gazipur, Bangladesh, the next day.

"It is not like we can return to India anytime soon. At least, I cannot," said Begum, whose visa is expiring soon; her husband's tourist visa remains valid for four more years. "We have bought a substantial amount of whole spices, which we usually pack during our visits here. We have also bought shawls, cakes, and chocolates for our children and grandchildren," added Begum. In the week that the couple spent in Kolkata, she also paid a quick visit to a private hospital to address a neurological problem.

Through the decades that they have visited Kolkata, they have always stayed in and around this area. "This time, the hotel rates had gone down from the earlier ₹1,200 to ₹800, which was a surprise," said Islam.

Actually, there is nothing surprising in the lower rates. With tourist footfalls plunging in the wake of the crisis in Bangladesh, hotels in the area have been running empty. The slowdown began last July, when an anti-quota stir rocked India's eastern neighbour. The government fell on 5 August, and Sheikh Hasina, the Prime Minister, fled the country to take refuge in India. And with that, relations between the two countries went into a tailspin.

Tensions between the two countries escalated when the Hindu monk Chinmoy Krishna Das was arrested in a sedition case. Protests and clashes broke out in Bangladesh and India called on the country to protect all minorities.

WEITERE GESCHICHTEN VON Mint Kolkata

Mint Kolkata

Ex-Flipkart executive Venugopal is Reliance Retail CEO

Former Flipkart executive Jeyandran Venugopal has been named president and chief executive officer (CEO) of Reliance Retail Ventures Ltd (RRVL), marking another significant senior-level appointment at India's largest retailer, which is preparing for a public listing.

time to read

1 min

December 04, 2025

Mint Kolkata

Mint Kolkata

INDIA'S SOLAR BOOM SHOWS 'CHINA' CRACKS

A massive solar module oversupply in India could force a painful industry consolidation. Who will survive?

time to read

7 mins

December 04, 2025

Mint Kolkata

Crypto deals hit a record $8.6 bn as market strains rise

A record-breaking year for crypto mergers and acquisitions is facing a harsh reckoning since a recent rout in digital assets began to unravel industry gains spurred by a friendlier administration in the White House.

time to read

1 mins

December 04, 2025

Mint Kolkata

The retail pivot of banks has seen lots of friction

Grievance data from RBI's Ombudsman Scheme report reveals rising discontent—much of it traceable to a major retail thrust by private sector banks. Remedial measures are a must

time to read

2 mins

December 04, 2025

Mint Kolkata

Anthropic plans an IPO as early as 2026

Artificial intelligence startup’s IPO as early as 2026

time to read

1 min

December 04, 2025

Mint Kolkata

Mint Kolkata

India’s solar module boom shows ‘China’ cracks

“There is overcapacity and overvaluation,” said Harsh Singhal, partner at ProsperETE, a climate-focused private equity firm. “Investors need to be careful about how competitive we are visa-vis China and how the government will respond to the market going forward.”

time to read

1 mins

December 04, 2025

Mint Kolkata

Mint Kolkata

IT sector sheds weight in stock market indices as AI rises

Since the start of the year, shares of the five largest firms have seen sharp drops: TCS fell by 23.47%, Infosys 17%, HCLTech 14.74%, Wipro 17.14%, and Tech Mahindra 9.97%.

time to read

2 mins

December 04, 2025

Mint Kolkata

Will Muthoot valuation cap rally?

A steep 70% rally in domestic gold prices over the past year has acted like a Midastouch for gold financiers.

time to read

2 mins

December 04, 2025

Mint Kolkata

Mint Kolkata

Services PMI rebounds in November

India’s services sector rebounded in November, as new business intakes increased amid subdued price pressures and improving demand, a private sw showed on Wednesday.

time to read

2 mins

December 04, 2025

Mint Kolkata

IT sheds weight in indices as AI rises

Combined weight of IT cos in BSE Sensex down to 18-year low

time to read

1 mins

December 04, 2025

Listen

Translate

Share

-
+

Change font size