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{{Short description|Economy of the region}}
{{Use dmy dates|date=December 2018}}
{{Use Indian English|date=December 2018}}
{{More citations needed|date=March 2009}}

[[File:Mumbai skyline BWSL.jpg|thumb|The Bandra-Worli Sea-Link]]
[[File:Mumbai Skyline at Night.jpg|thumb| Skyline of Mumbai across Back Bay]]
[[File:Phiroze Jeejeebhoy Towers Bombay Stock Exchange.jpg|thumb|[[Bombay Stock Exchange]]]]

[[Mumbai]], [[Maharashtra]] is the entertainment, fashion and commercial centre of India. Mumbai is the largest economy in India. Mumbai's Nominal GDP is more than $264 Billion & PPP is $368 Billion. <ref name="Brookings">{{cite web|url=https://www.brookings.edu/research/global-metro-monitor/|title=Global city GDP 2014|publisher=[[Brookings Institution]]|access-date=8 May 2015|url-status=live|archive-url=https://web.archive.org/web/20170525113815/https://www.brookings.edu/research/global-metro-monitor/|archive-date=25 May 2017|df=dmy-all}}</ref> It is the wealthiest Indian city with a net wealth of $1.950 trillion with 46000 millionaires and 56 billionaires.<ref>https://economictimes.indiatimes.com/news/economy/indicators/mumbai-12th-richest-city-globally-total-wealth-at-usd-950-billion/articleshow/62870741.cms</ref> Mumbai accounts for slightly more than 6.16% of India's economy contributing 10% of factory employment, 30% of [[income tax]] collections, 60% of [[customs duty]] collections, 20% of central [[excise tax]] collections, 40% of [[foreign trade]] and rupees 80,000 crore (US$20 billion) in corporate taxes to the Indian economy.<ref>{{Cite web |url=http://www.mapsofindia.com/maps/maharashtra/mumbai-city.html |title=Mumbai, Mumbai city, Mumbai tourism, Mumbai tour, Maharashtra Capital Mumbai, Commercial Capital Mumbai, Bollywood Mumbai, Mumbai Transport |access-date=12 October 2007 |archive-url=https://web.archive.org/web/20071011200913/http://mapsofindia.com/maps/maharashtra/mumbai-city.html |archive-date=11 October 2007 |url-status=dead }}</ref>

Headquarters of a number of Indian financial institutions such as the Bombay Stock Exchange, [[Reserve Bank of India]], [[National Stock Exchange of India|National Stock Exchange]], the [[India Government Mint, Mumbai|Mint]], as well as numerous Indian companies such as the [[Tata Group]], [[Essel Group]] and [[Reliance Industries]] are located in Mumbai. Most of these offices are located in downtown [[South Mumbai]] which is the nerve centre of the Indian economy. Many foreign establishments also have their branches in the South Bombay area.

Mumbai is the world's [[List of cities by GDP|37th largest city by GDP]].<ref name="150richestcities">[http://www.citymayors.com/statistics/richest-cities-2005.html The 150 richest cities in the world by GDP in 2005], dated 11 March 2007. The list fails to include Taipei. Accessed 3 July 2007.</ref> Mumbai was ranked among the fastest cities in India for business startup in 2009.<ref name=" World Bank and International Financial Corporation ">{{cite web|url= http://www.doingbusiness.org/subnational/exploreeconomies/India2009.aspx |title= Doing Business in India 2009|publisher=[[World Bank]]|access-date=2010-06-08}}</ref> Mumbai has a GDP per capita of $8,328.<ref>{{Cite web|last=Suzuki|first=Yusuke|date=March 2020|title=Mitsui & Co. Global Strategic Studies Institute Monthly Report|url=https://www.mitsui.com/mgssi/en/report/detail/__icsFiles/afieldfile/2020/06/05/2003d_suzuki_e_1.pdf|url-status=live}}</ref>

==Occupations==
Mumbai has traditionally owed its prosperity largely to its [[Textile manufacturing|textile mills]] and its seaport till the 1980s. These are now mostly replaced by industries employing more skilled labour such as engineering, diamond polishing, healthcare pharmaceutical marketing and information technology. Mumbai is also the primary financial centre for India, both the major Indian stock exchanges ([[Bombay Stock Exchange|BSE]] and The [[National Stock Exchange of India|National Stock Exchange]]), brokerages, asset management companies (including majority of the mutual fund companies), headquarters of most Indian state-owned and commercial banks, as well as the financial & monetary regulatory authorities of India ([[Securities and Exchange Board of India|SEBI]] and [[Reserve Bank of India|RBI]] among other institutions).{{citation needed|date=December 2018}}

As Mumbai is the capital of [[Maharashtra]], government employees make up a large percentage of the city's workforce. Mumbai also has a large semi-skilled labour population, who primarily earn their livelihood as [[hawker (trade)|hawker]]s, taxi drivers, mechanics and other such proletarian professions. The port and shipping industry too employs many residents directly and indirectly. Like most metropolitan cities, Mumbai also has a large influx of people from rural areas looking for employment.{{citation needed|date=December 2018}}

The entertainment industry is the other major employer in Mumbai. Most of India's television and satellite networks are located in Mumbai, as well as the major publishing houses. A large number of the Hindi and English television shows are produced in Mumbai. The Hindi movie industry, known by some as [[Bollywood]], is also located in Mumbai, along with the largest studios and production houses. To add to this, most major advertising companies operating in India also have their primary office in Mumbai.{{citation needed|date=December 2018}}.

==Industries==
{{see also|List of Indian companies}}
Mumbai is one of the ten largest trading centres in the world in terms of global financial flows, generating ca. 6% of Indian GDP and accounting for 25% of industrial production, 70% of Indian maritime trade and 70% of capital transactions for the Indian economy.<ref>https://indianmarinefederation.org/</ref>

Several major Indian companies are headquartered in Mumbai. The three largest private companies in India, Tata Group, Reliance Industries, and Aditya Birla Group, are based in Mumbai. Below is a list of some of these major companies:

{| class="wikitable"
|-
! Company || Revenue (billion US$)
|-
| [[Tata Group]] || 103
|-
| [[Reliance Industries]] || 75
|-
| [[Aditya Birla Group]] || 43.5
|-
| [[Hindustan Petroleum]] || 34.44
|-
| [[Bharat Petroleum]] || 39.45
|-
| [[State Bank of India]] || 47.9
|-
|-
| [[Reserve Bank of India]] || 402.86
|-
| [[ICICI Bank]] || 13.52
|-
| [[Larsen & Toubro]] || 16.0
|-
| [[Reliance Anil Dhirubhai Ambani Group|Reliance ADAG]] || 15.4
|-
| [[Essar Group]] || 39.0
|-
| [[HDFC Bank]] || 12.48
|-
| [[Axis Bank]] || 9.42
|-
| [[Bank of Baroda]] || 5.51
|-
| [[Bank of India]] || 5.44
|-
| [[IDBI Bank]] || 4.61
|-
| [[Union Bank of India]] || 4.12
|-
| [[Hindalco Industries]] || 14.0
|-
| [[Bajaj Group]] || 6.69
|-
| [[Godrej Group]] || 3.7
|-
| [[Mahindra Group]] || 15.9
|-
| [[JSW Group]] || 7
|-
| [[RPG Group]] || 4.01
|}

===Consumer Goods Industries===
[[Mumbai]] is home to some of [[India]]'s largest [[consumer packaged goods]] companies like [[Hindustan Unilever]],<ref>http://www.hul.co.in/resource/contact/default.aspx</ref> [[Procter & Gamble]],<ref>http://www.pg.com/en_IN/company/contact-us.shtml</ref> [[Nivea]],<ref>http://www.nivea.in/</ref> [[Colgate-Palmolive]],<ref>http://www.colgate.co.in/app/Colgate/IN/Corp/Investor/RegdOffice.cvsp</ref> Godrej Consumer Products <ref>http://www.godrejcp.com/contact-us.aspx</ref> and many more.

==Services==
===Tourism===
The [[World Travel and Tourism Council|World Travel & Tourism Council]] calculated that tourism generated US$3.9 billion or 3.2% of the city's GDP in 2016 and supported 637,900 jobs, 7.3% of its total employment. The sector is predicted to grow at an average annual rate of 8.8% to US$9 billion by 2026 (3.1% of GDP). Mumbai's tourism industry accounted for 5.4% of India's total travel and tourism-related GDP in 2016, and employed 2.4% of the country's total workforce.<ref name = "WTTC">{{cite web|title=CITY TRAVEL & TOURISM IMPACT 2017 Mumbai|url=https://www.wttc.org/-/media/files/reports/economic-impact-research/cities-2017/mumbai2017.pdf|publisher=[[World Travel and Tourism Council]]|access-date=19 March 2018}}</ref>

Foreign tourists accounted for 35.7% of all tourism-related spending in Mumbai in 2016. Nearly one-fifth of foreign tourists visiting the city come from the United Arab Emirates.<ref name = "WTTC"/>

===Other===

Below is a list of major industries located in Mumbai:

* [[Bollywood|Hindi film industry]]
* Automotive parts
* Utensils
* Biscuits (Cookies)
* Clothing
* Textile mills
* Pencils
* Tractors
* Pharmaceuticals
* Import
* Export
* IT
* Health Care

==See also==
* [[Make in Maharashtra]]

==References==
{{reflist}}

{{Mumbai topics}}

[[Category:Economy of Mumbai| ]]

Economy of Mumbai - Revision history

CleanupBot at 10:44, 29 January 2022