Introduction

Mumbai formerly Bombay, is the capital of the Indian state of Maharashtra and the financial capital of India. With an estimated population of thirteen million, it is the most populous city in India and the second most populous city in the world. Along with the neighbouring suburbs of Navi Mumbai and Thane, it forms, at nineteen million, the worlds fifth most populous metropolitan area. Mumbai lies on the west coast of India and has a deep natural harbour. Mumbais port handles over half of Indias maritime cargo.

Mumbai is the commercial and entertainment centre of India, generating 5% of Indias GDP[3] and accounting for 25% of industrial output, 40% of maritime trade, and 70% of capital transactions to Indias economy.[4] Mumbai is one of the worlds top ten centres of commerce by global financial flow,[5] home to such important financial institutions as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India and the corporate headquarters of many Indian companies and numerous multinational corporations. The city also houses Indias Hindi film and television industry, known as Bollywood. Mumbais business opportunities, as well as its high standard of living, attract migrants from all over India and, in turn, make the city a potpourri of many communities and cultures.