WELCOME TO MUMBAI
Mumbai, previously known as Bombay, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million. It is also one of the world's top 10 centres of commerce in terms of global financial flow, generating 5% of India's GDP, and accounting for 25% of industrial output, 70% of maritime trade in India (Mumbai Port Trust & JNPT), and 70% of capital transactions to India's economy.
Mumbai is India's largest city and serves as an important economic hub for the country. Along with the rest of India, Mumbai, its commercial capital, has witnessed an economic boom since the liberalization of 1991, the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in this decade. The middle class in Mumbai is the segment most impacted by this boom and is the driver behind the consequent consumer boom. Upward mobility among Mumbaikars has led to a direct increase in consumer spending.
Many of India's numerous conglomerates (including Larsen and Toubro, State Bank of India, Life Insurance Corporation of India, Tata Group, Godrej and Reliance), and five of the Fortune Global 500 companies are based in Mumbai. Many foreign banks and financial institutions also have branches in this area, with the World Trade Centre being the most prominent one.The port and shipping industry is well established, with Mumbai Port being one of the oldest and most significant ports in India. Mumbai is an important Industrial base for sectors such as: chemicals, textiles, drugs, pharmaceuticals, food Processing Industries as well.
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