Doing Business in Mumbai: Mumbai (formerly Bombay) is the commercial and financial capital of India and among of the largest cities in the world, with a population of over 14 million. In 2009, Mumbai was the only Indian city included into the list of Alpha World Cities by Globalization and World Cities Research Network (Alpha World Cities are those which play an important part in the global economic system).
A cosmopolitan capital
Located on the western coast of India, Mumbai is made of seven islands and is the capital to the state of Maharashtra. While Marathi is the local language, Hindi is widely used and English is used as the business language. It is also a cosmopolitan city with people from all parts of India migrating to Mumbai for work. It also has a large expatriate population working in various multinational corporations and international bodies.
Communication and entertainment hub
Mumbai has a well connected metro rail network which is the lifeline of the city. It is also home to several colonial buildings from the British era. In the last decade, several roads and overpass construction projects have been completed to deal with the growing traffic. The suburb Navi Mumbai (New Bombay) was developed on the eastern outskirts. Mumbai is also home to the second largest entertainment and movie making industry in the world – Bollywood. Many prominent educational institutions such as the Indian Institute of Technology (IIT-B) and the Tata Institute of Fundamental Research (TIFR) were established in Mumbai. The city has a humid tropical climate with the monsoon season between June and September.
Major contributor to the economy
More than 25 percent of the gross domestic production in India is contributed by the economy of Mumbai and its suburban industries. About 40 percent of India’s maritime trade moves through the ports of Mumbai (Jawaharlal Nehru Port Trust, Mumbai Port and the Chhatrapati Shivaji International Airport). Many large international airlines also land in Mumbai. Owing to the large movement of international cargo, many shipping lines have started calling ports in Mumbai directly.
Mumbai houses the headquarters of several large Indian Corporations, important Banks and the Indian head offices of large foreign multinationals (MNC’s). Several manufacturing and service industries are based in Mumbai; the city and its suburbs contribute to 25 percent of India’s industrial output.
Last updated: December 12th, 2013
