Mumbai, The Financial Power House of India

December 8th, 2020 by admin Leave a reply »

Mumbai is composed of seven islands reclaimed from the sea over the years. Mumbai has been a centre of Importance since the British Era. Mumbai was a fishing town owing to is location on the west coast of India.

By the 19th century, Mumbai under-went economic and educational development, which led to the establishment of various textile mills and factories. Which turned out to be the major key player in Mumbai’s economy, employing a large number of people in these mills and factories.

Now it is host to sectors such as Engineering, Diamond Polishing, Healthcare Service, IT Enterprises, IT enabled services. Now the key players contributing to a wide share of its economy are, Gems & Jewellery, IT & Textiles and Entertainment. India’s Film Industry is also based here which produces 150-400 films every year. Film Industry also attracts talented individuals, who throng in large numbers everyday with a single dream of making it big.

What makes Mumbai the Financial Capital of India

Mumbai is not only the Financial capital but also commercial and entertainment capital of India. It can also be termed as The Financial Power House of India as it contributes 5% to the GDP of our country and also is amongst the top-10 centres of commerce in terms of Global Financial Flow. Mumbai shares 25% of total Industrial Output, 70% of Maritime transactions and 70% of Capital transactions of India. With such an enormous contribution towards the GDP, this city is indeed the Financial Power House attracting business houses from all across the globe to set base here.

The presence of important financial institutions like Bombay Stock Exchange, the National Stock Exchange, Reserve Bank of India has played a significant role in uplifting the economy of this city.

As a consequence of being the epicenter of finance, it has been regarded as The Wealthiest City in India. This metro also has the highest GDP amongst all major cities in South, West and Central Asia.

What Opportunities does it Hold

Mumbai is home to various Government sector and Private sector organizations. Government conglomerates like ONGC, HPCL, IOCL, Air India, and LIC are housed in this city. However, the number of state government and central government employees out number the workforce of Private organizations.

Talking of the Private Sector Mumbai is host to five of Fortune-500 Companies, other MNCs from all over the globe prefer setting up base or R&D centers in this city. Easy availability of skilled Human Resource, Connectivity to the world, Easy access to ports which allow swift delivery of imports and exports make it a favourable destination for corporate houses.

Also being home to the Indian Film Industry, Bollywood it attracts talent from all across the country towards itself. Employing people from all walks of life and at all levels, Bollywood has been generating opportunities for the deserving from time to time.

So for those who are on the doorstep of their career should enter their respective professions from this city as the MNCs here follow the best business practices, learning environment and innumerable opportunities to grow and develop. Those in the middle of their careers can also consider relocation to Mumbai as it will bring an upward growth, opportunity to learn the latest technologies and market trends, also it serves as the window to the world.

Mumbai draws the brightest of Finance and Engineer talents towards it self but also various skilled and Un-Skilled individuals. Being the hot-spot of commerce, Mumbai offers opportunity to one and all, depending on their passions and interests. Talented individuals are much in demand as Media & Entertainment has its foundation based on talent. The film industry also caters to the dreams of individuals who want to make it big in niches like Production, Direction, Acting etc.

The city offers Higher Standards of Living as compared to other cities, which bring in satisfaction to the lives of people making a living in this town. Also the Urban Working Environment of this city rewards the desirous, various malls, multiplexes, pubs and hotels serve as a great spot to unwind and let your hair down after the excruciating hours at work.

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