Kolkata ([kolkat̪a] ( listen), also known as Calcutta, the official name until 2001) is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River, it is the principal commercial, cultural, and educational centre of East India, while the Port of Kolkata is India 's oldest operating port and its sole major riverine port. The city is widely regarded as the "cultural capital" of India, and is also nicknamed the " City of Joy ". In 2011, the city had a population of 4.5 million, while the population of the city and its suburbs was 14.1 million, making it the third-most populous metropolitan area in India. Recent estimates of Kolkata Metropolitan Area 's economy have ranged from $60 to $150 billion (GDP adjusted for purchasing power parity) making it third most-productive metropolitan area in India, after Mumbai and Delhi.
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 Nizamat (local 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.
