The opinion piece argues that reviving the Calcutta Stock Exchange (CSE) could help restore Kolkata's historical role as a financial hub while improving access to capital for businesses across eastern and northeastern India.
It highlights that a revived CSE could complement—not compete with—NSE and BSE by focusing on SMEs, regional enterprises, and local capital formation, where proximity to issuers and investors can create value.
The article notes that the exchange's revival is backed by the West Bengal government's support, alongside plans for a modern trading platform and updated infrastructure, although regulatory approvals from SEBI remain critical.
The author contends that a functioning regional exchange could improve financial inclusion, employment, and market participation, particularly for businesses that may find it difficult to access larger national exchanges.
At the same time, the article acknowledges that the revival will ultimately depend on achieving sustainable trading volumes, liquidity, and a viable business model, challenges that led to the decline of many regional stock exchanges in the past.
