City Focus – Mumbai

Mumbai is the capital city of the Indian state Maharashtra. The city is also known as Bombay. It is the second most populous metropolitan area in the country, lying on the Konkan coast. Mumbai is the wealthiest city of India, as it has the highest number of billionaires. It attracts many people from all over the country, making Mumbai a melting pot of many cultures and communities. The seven islands of Mumbai were under control of successive indigenous empires before being ceded to the Portuguese Empire and subsequently to the East India Company when in 1661 Charles II of England married Catherine of Braganza and as part of her dowry Charles received the ports of Tangier and Seven Islands of Bombay.* Throughout the mid 18th century, the city had been reformed by the Hornby Vellard project. Completed in 1845, it became the major seaport on the Arabian Sea. It went through on several economic and educational development, and during the early 20th century Mumbai became a strong base for the Indian independence movement**. In 1947 when India became independent, the capital was incorporated into Bombay state.  Following the Samyukta Maharashtra Movement in 1960, a new state was created. The capital city became Bombay. Mumbai is famous of its financial and commercial developments, as well as its entertainment industry.

It is also one of the world’s top ten centres of commerce in terms of global financial flow. generating 6.16% of India’s GDP and accounting for 25% of industrial output, 70% of maritime trade in India and 70% of capital transactions to India’s economy.***

Mumbai has important financial institutions such as the Reserve Bank of India, the National Stock Exchange of India, the Bombay Stock Exchange, the SEBI with corporate headquarters of numerous Indian companies and multinational corporations.

The capital city has many scientific and nuclear institutes, and Mumbai houses the worldwide famous Hindi and Marathi cinema industries. The city is the home of many traditional festival, food, music, and theatres. It offers a cosmopolitan and diverse lifestyle for those people who love the Indian culture.

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*** Source: https://en.wikipedia.org/wiki/Mumbai

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