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Mumbai, formerly Bombay, is the capital of the Indian state of Maharashtra. With an estimated population of thirteen million, and 19 million with neighbouring suburbs of Navi Mumbai and Thane, it is one of the most populous cities in the world. Mumbai lies on the west coast of India and has a deep natural harbour. It's port handles over half of India's seagoing passenger traffic and a large proportion of the maritime cargo. Mumbai is the commercial and entertainment center of India, and one of the world's top ten centers of commerce. The city also houses India's Hindi film and television industry, known as Bollywood. Mumbai's status as the state capital means that state and central government employees make up a large percentage of the city's workforce. Along with the rest of India, Mumbai has witnessed an economic boom since the liberalization of 1991, the finance boom in the mid-nineties and the IT, export, services and BPO boom in the 2000's. The middle class in Mumbai is the segment most impacted by this boom and is the driver behind the consequent consumer boom. Upward mobility among Mumbaikars has led to a direct increase in consumer spending. One of the largest Special Economic Zones in India is being set-up in Navi Mumbai. The Navi Mumbai SEZ (NMSEZ) will be spread over an area of around 50 square kilometers. Another SEZ known as the Maha Mumbai SEZ is also being set up in Mumbai. These two twin SEZs are slated to be the second largest single location SEZ complexes in the world. |
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