Doing Business in Mumbai, India
The financial capital of India
Mumbai is the Capital of Maharashtra state but why it is called the “Financial Capital of India”? Mumbai is one of those cities in the world which never sleeps. Whatever you want and what time of the day this city never make you disappointed for sure.
For me, Mumbai is the backbone of the Indian economy as you can find the presence of different Corporations, Businesses, Financial Institutions, Small and Medium Enterprises, and Government Agencies in Mumbai.
Its small, medium, and big businesses fulfill the requirements of local, national, and international customers. Also, Mumbai attracts International clients due to its diverse business opportunities. Mumbai City has also been given many unicorn and business tycoons who are engaging the world with them and generating revenue for India.
Let us explore some of the Mumbai-based Businesses and the importance of their presence that clarify the vision why Mumbai is called the “Financial Capital of India”?
Information Technology
Information Technology is a sector that is growing rapidly not only in Mumbai, India but all over the world. Today’s life without the Information Technology sector is unimaginable. Being the biggest city in India Mumbai is truly giving its best to India’s economy. In Mumbai, you will find many IT firms and agencies that are doing exceptionally well including
- Tata Consultancy Services (TCS)
- Infosys
- Wipro
- Tech Mahindra
- L&T Infotech
- Capgemini
Diamonds
Bharat Diamond Bourse is the other name of the Mumbai Diamond Industry. It has a lot of significance not only in the Mumbai Business field but also for India as it is one of the largest diamond-selling hubs in the world. This earning is making huge money for India as Diamonds are exported all over the world from here. Its skilled workforce and the and to meet the quality of international standards are other reasons for its popularity in the whole world.
Manufacturing
It is another gem in Mumbai’s business industry. In Mumbai, there are many manufacturing companies including Textiles, Garments, Engineering and Machinery, Pharmaceuticals, Electronics, Metal Fabrication, Metallurg,y and many other manufacturing companies that are producing export quality products.
Here are some Mumbai based Manufacturing Companies
- Tata Motors
- Mahindra & Mahindra
- Hindustan Unilever Limited (HUL)
- Reliance Industries Limited
- Aditya Birla Group
Mumbai-Based Unicorns
Mumbai has also many big fish in the business industry like unicorns. A unicorn is a term that is normally associated with a business who have earned more than one billion dollars. These unicorns attract not only customers but also investors from all over the world.
Let us check a few Mumbai-based unicorns
Ola
It is a service-based unicorn that offers cabs and autos all over India and some other Asian countries.
BYJU’S
This online company assists students in the education field in India
Paytm
This platform enables its users to pay online their bills and offers some other financial services It provides digital wallets help to calculate their annual tax and credit score for taking loans.
Swiggy
An online food delivery platform. You can make the smallest order as low as ten rupees with them that is an awesome thing.
Zomato
Another food delivery service chain is exactly like Swiggy.
These unicorns not only make money but also make people’s lives easier.
Bandra Kurla Business Complex
Bandra Kurla Complex was developed in the 1970s and is the only Business District of India located in Mumbai. Only business-related activities are held in this city such as commercial, and financial activities.
Bandra Kurla Complex hosts corporate offices, government buildings, and financial institutions. The Bharat Diamond Bourse is also situated here in this complex.
Bandra Kurla is an attraction place for multinational corporations, banks, and government agencies. Besides all these, it also hosts sports activities and has proper stadiums for different sports like cricket and golf, etc.
It has several eating places, luxurious hotels, shopping malls, and different markets. According to a survey held not long ago, only Mumbai’s Bandra Kurla produces more money for India than many other small countries.
Textile and Art Industry of Mumbai
For a long ago Mumbai was a hub in the textile field in India and still serves well. A wide range of textile products made by skilled and experienced workers is the reason for this industry’s success.
Mumbai’s textile companies especially Reliance Industries Limited, Welspun India Ltd, Raymond Limited, and Siyaram Silk Mills Limited bring a revolution in this industry.
Similarly, the Art galleries of Mumbai like Jehangir Art Gallery, National Gallery of Modern Art, and Chhatrapati Shivaji Maharaj Vastu Sangrahalaya are prompting the masterpieces of senior and junior artists and earning handsome money by attracting national and international buyers.
Conclusion
With the presence of world-recognized businesses and unicorns, Mumbai’s small businesses like street food stalls, kirana stores, local markets, beauty parlors, salons, travel agencies, and local transport companies are playing an important role in the growth of the Indian economy.
I have covered a mere 10% of the business potential of Mumbai. In Short, Mumbai will justify the title “Financial Capital of India” due to its awesome business strategies with endless opportunities to excel.
