Mumbai is the capital of the State of Maharashtra. It is one of the most populous cities in the world. Mumbai is not just the economic hub, but also the cultural and political hub of the country.
The city of Mumbai has excellent transport infrastructures. It is connected to all major cities via road, rail and airways. The Mumbai airport is one of the busiest airports in India. The civic amenities are also steady and reliable. The telecom facilities in the city are unparalleled. The overall infrastructure has seen a drastic improvement over the past few decades. The city boasts of world class infrastructures and a workforce of both skilled and unskilled workers. The city acts as a magnet for migrants from all over India due to the business and investment opportunities it offers to people.
Thanks to the geographical location of the city, it has several natural harbors. Thus, the shipping industry is very well established here. The various ports and harbors in the city serve for transportation of people and cargo.
Mumbai is known as the financial capital of India. It contributes about 5% of the total GDP of the country and is also one of the largest cities. The per capita income of the city and the living standards are higher than most parts of the country.
Major industrialization in the last three decades has made Mumbai one of the best destinations for investment in India. The city of Mumbai now boasts of business opportunities in sectors such as chemicals, pharmaceuticals, information technology, engineering and biotechnology. The city of Mumbai is also a major center for services and outsourcing industries.
The city is also fast becoming a center for IT (Information Technology) related services. Several IT parks have either already come up or are in the process of being established. The government has announced a host of policies to support this sector.
Mumbai is also a major media hub. It is home to the Hindi movie industry which has a turnover of several million dollars per year.
Several Fortune 500 companies, multinational companies and banks have their bases in Mumbai. Major Hollywood studios are now seeking tie ups with Indian production houses to become a part of this lucrative industry.
The city also offers excellent educational facilities. The city has reputable management schools and other educational institutions.
The government of Maharashtra has made several policy announcements to attract more investment to the city. The government has set up various agencies to encourage both private and public investment by creating a favorable industrial climate in the city, generating employment opportunities and providing an edge to the industrial units of the city over their counterparts. Moreover, the government of Maharashtra has made the process of establishing a new business in the island city much easier than earlier.
Mumbai has been voted one of the top cities of the world. It has a lot to offer to all kinds of businesses and the investment opportunities are innumerable.