Kolkata: The BJP-led West Bengal government has proposed reviving the historic Calcutta Stock Exchange (CSE), a move aimed at restoring Kolkata’s status as a major financial hub and attracting fresh private investment to eastern India.
Presenting the state budget for 2026-27 in the Assembly on Monday, Finance Minister Swapan Dasgupta said the government was exploring options to bring the 118-year-old institution back into operation after more than a decade of inactivity.
The Calcutta Stock Exchange, once one of India’s most prominent financial institutions, has remained dormant for 13 years. Its operations were suspended by the Securities and Exchange Board of India (SEBI) in 2023 after the exchange failed to meet several regulatory requirements, including adequate trading volumes, proper clearing and settlement mechanisms, governance standards and technological infrastructure. The suspension was later upheld by the courts.
Dasgupta said the revival proposal aligns with the broader vision of building a “Viksit Bharat” and a “Viksit Bengal.” He stressed that restoring the exchange could play a significant role in strengthening the financial ecosystem of eastern India.
“In order to restore Kolkata’s status as a financial hub, our government proposes to support the revival of the Calcutta Stock Exchange,” Dasgupta said while presenting the budget.
He added that reopening the exchange could lower listing and trading costs, improve access to capital for businesses across eastern India and generate new employment opportunities. According to the minister, a functioning regional stock exchange could particularly benefit small and medium-sized enterprises seeking easier access to financial markets.
The proposal comes at a crucial time as the exchange faces uncertainty over its future. In February 2025, the CSE had applied for voluntary exit from its status as a stock exchange after years of regulatory and legal challenges. However, SEBI has not yet granted final approval for the exit, leaving room for a potential revival.
State government officials believe that bringing the exchange back to life could help Kolkata reclaim its historical position as a leading financial centre and provide a fresh platform for regional economic growth.
