Economy Of Siliguri

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The gateway of North East Bengal, Siliguri is being considered as an economic centre which is growing among the fastest cities, with borders of four countries meeting at around this region. It is because of the position of Siliguri that the North Bengal has come to be a hub for trade and commerce. Countries of Bangladesh and Nepal are using the corridor through siliguri to help in transporting rice and other important commodities of urgency. The route of trade between China and India, which is also known as the Silk Route of India is possible to be accessed only after one crosses Siliguri. The 4 ‘T”s that are important trade businesses in siliguri are Timber, Tea, Transport and Tourism. The Federation of Chamber of Commerce and Industry of North Bengal or FOCIN has its headquarters in Siliguri.

In Siliguri, the processing and production of tea allows a number of workers to be engage in the business. The siliguri tea industry has grown tremendously over the years at a very high rate and has given a stiff competition for various countries of the world and is having a strong position.

In Siliguri, the tourism sector is also growing day over day. High demand among the tourists for Siliguri as a vacation destination has helped flourish of many hotels. Tourists come to Siliguri for seeing the large variety of fauna and flora in the region and are attracted towards the large elongating landscapes and over the years, this beautiful range of the Himalayan mountains is becoming preferable for the international as well as the domestic tourists.

Large numbers of shopping malls are coming up along the Siliguri roads, some of them being Sun Flower, City Style, Cosmos, etc on the Sevoke Road and on Burdwan road is the Vishal Mega Mart.

Well known automobile companies are coming into siliguri with various showrooms. Some of the showrooms belong to Mahindra & Mahindra, General Motors, Hyundai, Ford, JCB, Tata, Toyota Kirloskar, Honda Siel, Maruti Suzuki, etc. Two wheeler showrooms have also established their positions in Siliguri’s economy, such as Honda Scooters, Bajaj, TVS Suzuki, Yamaha, Kinetic, Hero Honda, LML, etc.

Plenty of handicrafts and furniture works and also canework have come up to become famous in the town. There are also clay items for decorative purposes. State government has two cooperatives namely Himul Milk Processing and Diary Cooperative and Kanchan Food Processing Cooperative. Growth in the demand for handicraft items of cane, wood, bamboo and jute has also been seen which are made by the artisans of the local region. Other items which have gained prominence among the tourists are those from the hills including the woven shawls, embroidery, bags, etc.

Due to the economical growth that has been seen in Siliguri, plenty of banks have offered to operate from Siliguri such as HDFC, Standard Chartered, Allahabad, ICICI, State Bank of India, UCO, UTI, IDBI, Vijaya, UBKG, etc and all of them have branches in Siliguri. Some of the other prominent banks are Karnataka Bank, Sonali Bank, Andhra Bank, Canara Bank, Bank of Baroda, Maharashtra bank, etc.

The town of Siliguri has become a prominent and preferred destination for investments. Rapidly growth, with the blink of the eye, especially in the tourism sector has given an impetus.