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Mumbai – Bombay
Mumbai, formerly known as Bombay, is the capital of the state of Maharashtra.Mumbai is located at the mouth of the river Ulhas off the west coast of India. It is located on the island of Salsette in part together with the district of Thane. Much of the city lies just above sea level and covers an area of 603 square kilometers. Mumbai has two seasons: the wet and dry seasons.
The wet season lasts from March to October and the monsoon season hits the city between June and September. The dry season lasts from November to February and is characterized by warm to cool weather. The name Mumbai comes from the Hindu goddess Mumbadevi and is associated with “AAI” in Marathi, meaning mother. With an estimated population of thirteen million people, It is the second most densely populated city in the world and India’s largest city. In combination with the adjacent suburbs of Navi Mumbai and Thane, it has an estimated population of nineteen million, making it the fifth most populous metropolis in the world.
Overview of Mumbai:
Mumbai is also the media and film capital of the country. Most of the major India TV and satellite networks, as well as major publishers, are based here. The Hindi film industry, Bollywood, also relies here. Bollywood holds the record for the maximum number of films in a year. All this has led to consumer spending in this city. According to a recent survey, Mumbai ranked tenth among the world’s largest centers of trade in terms of financial flow.
India has been at a rapid pace of growth in recent years. It boasts the world’s second largest work force with 516.3 million people. Economic reforms have made India the second fastest growing large economy in India. There is still a high level of poverty, illiteracy and malnutrition. Economic growth is uneven and income the difference between poor and rich is huge. In recent years, India has become a major destination outsourcing for many multinational companies and is a major player in the global IT industry. It has the world’s largest twelfth economy in terms of market exchange rate and the fourth largest in purchasing power.
Economy of Mumbai:
The currency in India Rupees. Mumbai (Bombay) India is the largest city and accounts for 10% of all factory employment, 40% of income tax, 60% of all custom collections, 20% of all central excise collections and 40% of foreign trade in corporate income tax. It is also responsible for 25% of industrial production, 40% of maritime trade, and 70% of capital transactions in India.
In short, it is India’s economic center. Mumbai’s per capita income is nearly three times higher than the national average. Most of India’s major corporations, including the Tata Group and Reliance, and four Fortune 500 companies are based here. Many foreign banks and financial institutions have offices in Mumbai, including the World Trade Center. Major industries in Mumbai include Engineering, Diamond Polishing, Health and Information Technology. Aerospace, optical engineering, medical research, computer and electronic equipment, shipbuilding and salvage and renewable energy and power are also increasingly important aspects of the local economy in this busy city.