Ganguly was initiated into the world of music at the age of three. He was a student of Baranagore Ramakrishna Mission Ashrama High School from where he completed his schooling. Later he graduated from the University of Calcutta. He is trained in Indian classical music under the guidance of his father Kali Ganguly and his pisima (father's sister) Shibani Roychowdhury. He studied western classical music, jazz and rock with jazz guitarist Carlton Kitto.