Development in the area is stimulated by the presence of the IIT campus, the proximity to Kolkata and the excellent rail connections. Kharagpur is also developing in the field of real estate, hospitality and retail. There is also a new Big Bazaar opened in Kharagpur and a shopping complex is going to be opened by The Regent Heritage as a part of its project. A proposed INOX Leisure multiplex is opening soon in the Puja Complex mall. There are marketplaces called Puratan Bazaar, Gole Bazaar, and Gate Bazaar, a super market at co-operative Golebazar and one at Malancha.
Kharagpur is fast developing as an industrial township with several existing and new industries coming up. The major industries present in Kharagpur are:
Existing Industrial Units:
Bansal Cement Private Limited (Grinding Unit)
Telecom Factory (taken over by BSNL since 2000)
Aso Cement Ltd. (Slag Cement)
Essen Fabricators Private Limited (Heavy Engineering Division)
Siemens Pvt Ltd (Industrial Gears)
Humboldt Wedag (I) Ltd. (Slurry Pumps)
SE Railway Workshop (Carriage, Wagon, Steel and Diesel Locomotive Maintenance)
Tata Bearings Ltd. (Bearings and its Castings)
Tata Constructions & Projects Limited formerly Tata Davy Ltd. (Heavy Engineering) (This factory has been closed since 2003)
Bengal Energy Limited (Pig & Sponge Iron)
Tata Metaliks Ltd. (Pig Iron Plant)
Kalimati Steel Pvt. Ltd. (Manufacturers and Processors of Low Ash Metallurgical Coke)
Wellman Wacoma Ltd. (Coke Oven/Metallurgical Coke)
Rashmi Metaliks (PIG Iron Manufacturing Unit)
Ramswarup Lohh Udyog(Finished Steel)
Sai Fertilizer Pvt Ltd (SSP manufacturer)
KE Technical Textiles Pvt. Ltd. (Technical Textiles, Gauntlets, Fiber Glass Fabric)
TELCON off the road vehicle plant.
Avtec Limited
Century Extrusions Ltd.
Tata Kubata
Keshar Tea & Co.
Inox Air Products
