The discovery of the nearby Chandraketugarh, an archaeological site, provides evidence that the area has been inhabited for over two millennia. The city's documented history, however, begins with the arrival of the British East India Company in 1690, when the Company was consolidating its trade business in Bengal. Job Charnock, an administrator with the Company who eventually settled in Sutanuti after invading through Hijli Kingdom, was traditionally credited as the founder of this city (however, recently experts have endorsed the view that Charnock was not the official founder of the city). In 1699, the British completed the construction of old Fort William, which was used to station its troops and as a regional base. Kolkata (then Calcutta) was declared a Presidency City, and later became the headquarters of the Bengal Presidency. Faced with frequent skirmishes with French forces, in 1756 the British began to upgrade their fortifications.

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Kolkata is located in eastern India at 22°33′N 88°20′E in the Ganges Delta at an elevation ranging between 1.5 to 9 metres. It is spread linearly along the banks of the River Hooghly in a north-south direction. Much of the city was originally a vast wetland, reclaimed over the decades to accommodate the city's burgeoning population. The Sundarbans National Park separates the city from the Bay of Bengal, which is located about 154 km to the south. Like the most of the Indo-Gangetic plains, the predominant soil type is alluvial. Quaternary sediments consisting of clay, silt, various grades of sand and gravel underlie the city. These sediments are sandwiched between two clay beds, the lower one at depths between 250 and 650 m and the upper one ranging between 10 and 40 m in thickness.

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Kolkata is the main business, commercial and financial hub of eastern India and the northeastern states. It is home to the Calcutta Stock Exchange — India's second-largest bourse. It is also a major commercial and military port, and the only city in the region to have an international airport. Once India's leading city and Capital, Kolkata experienced a steady economic decline in the years following India's independence due to the prevalent unstabilised political condition and rise in trade-unionism supported by left-wing parties. Between the 1960s to the mid 1990s, flight of capital was enormous as many large factories were closed or downsized and businesses relocated. The lack of capital and resources coupled with a worldwide glut in demand in the city's traditional industries(e.g. jute) added to the depressed state of the city's economy. The liberalisation of the Indian economy in the 1990s along with the election of a new reformist Chief Minister, Buddhadeb Bhattacharya have resulted in the improvement of the city's fortunes.

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