Mumbai (formerly Bombay), situated on the west coast of India, is the capital of the Indian state of Maharashtra. It has an estimated population of thirty million 29 lakhs, which is the first most populous city in the country. It is formed by seven small islands formed by lava and is connected with the major landmass by the bridge. The Mumbai Port is the best maritime port in India. The coast of Mumbai is chopped and torn due to which it is natural and safe. Ship passengers and tourists arriving by waterways or airways from western countries like Europe, America, Africa etc. come to Mumbai first, hence Mumbai is called the gateway of India. Mumbai is also called the city of dreams.,
Mumbai is also the largest economic and commercial center of India. Which accounts for 5% of India's GDP. It accounts for 25% of the entire industrial product of India, 40% of the shipping business, and 70% of the capital transactions of the Indian economy. Mumbai is one of the top ten commercial centers in the world. Most of the banks and merchant offices of India have their head offices and several important economic institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange and the corporate headquarters of several Indian companies and multinational companies are located in Mumbai. Hence it is also called the economic capital of India. The city also has the Hindi film and television industry of India, which is famous by the name of Bollywood. Mumbai's commercial hospitality and high standard of living attracts people from all over India, due to which the city has become a mixture of different societies and cultures. The Mumbai port handles about half of India's sea freight. The Mumbai Municipal Corporation has a total of 227 corporators. Mumbai Municipal Corporation is considered to be the most metropolitan in the world in terms of money.
Mumbai is the largest city in India. It is also an important economic center of the country, accounting for 10% of all factory jobs, 70% of all income tax collections, 60% of all customs duties, 20% of central revenue and India's foreign trade and ₹ 40 billion (US $ 580 million). ) Contributes from corporate taxes. Mumbai's per capita income is ₹ 48,954 (US $ 710), which is almost three times the national average income. Many of India's large industries (including State Bank of India, Tata Group, Godrej and Reliance) and four Fortune Global 500 companies are also based in Mumbai. Many foreign banks and institutions also have branches located in the World Trade Center area here. By the year 1970, Mumbai was prosperous due to its textile industry and port, but the local economy has improved many times since then, including engineering, gem business, health care and information technology. The Bhabha Molecular Research Center is also located in Mumbai. It is here that most of the specialized technical industries of India are located, which have modern industrial infrastructure as well as vast amount of skilled human resources. Rising stars of economic companies, aerospace, optical engineering, all types of computer and electronic equipment, the ship industry and recycled energy sources and power industries have their own place here.
Central and state government employees make up a large part of the city's jurisdiction. Mumbai has a large number of skilled and unskilled and semi-skilled workers, who make their living primarily by taxi-drivers, hawkers, mechanical and other blue collar jobs. The port and shipping industry also directly and indirectly employs a large number of employees. In the Dharavi area of the city, the waste recycling industry is established here. The district has an estimated 15,000 one-room factories.
The media industry is also a big employer here. India's principal Doordarshan and satellite networks, and the main publishing houses operate from here. The center of the Hindi film industry is also located here, which releases the most films in the world every year. The word Bollywood is coined by combining Bombay and Hollywood. Marathi Doordarshan and Marathi film industry are also located in Mumbai.
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Like the rest of India, its commercial capital Mumbai has also witnessed an economic boom (millennium) due to the government liberalization policy of 191. Along with this, the mid-1990s have also seen an upsurge in information technology, exports, services and BP industries. While the middle-class citizens of Mumbai have been most affected by this boom, they are also the doers of the consumer boom in response to this. The upward mobility of these people has also raised the living standards and spending capacity of the consumers. In a survey by MasterCard Worldwide based on financial flows to Mumbai; It has been counted among the top ten commercial centers in the world.
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