Mumbai formerly known as Bombay is the capital of maharastra state in western India. Mumbai is the commercial capital of India. Mumbai is located on Salsette Island, which lies at the mouth of Ulhas River off the western coast of India, in the coastal region known as the Konkan. Much of Mumbai is at sea level, and the average elevation ranges from 10 to 15 metres.
The northern part of Mumbai is hilly, and the highest point of the city is at 450 metres. The climate of the city, being in the tropical zone, and near the Arabian Sea, may be classified into two seasons , the humid season, and the dry season. Mumbai contributes 10% of all factory employment, 40% of all income tax collections, 60% of all customs duty collections, 20% of all central excise tax collections, 40% of India's foreign trade and Rupees 40 billion in corporate taxes.
A number of Indian financial institutions have headquarters in downtown Mumbai, including the Bombay Stock Exchange, the Reserve Bank of India, the National Stock Exchange of India, the Mint, and numerous banks and conglomerates (including State Bank Of India , Tata Group, Godrej and Reliance). Many foreign banks and financial institutions also have branches in this area.
Up until the 1980s, Mumbai owed its prosperity largely to textile mills and the seaport, but the local economy has since been diversified to include engineering, diamond-polishing, healthcare. The entertainment industry is the other major employer in Mumbai.
Most of India's major television and satellite networks are headquartered in Mumbai, as well as its major publishing houses. The centre of the Hindi movie industry, Bollywood, is also located in Mumbai, along with its largest studios (Dadasaheb Phalke chitranagari) and movie production houses. Marathi television and Marathi film industry are also based in Mumbai. Mumbai has numerous newspaper publications and television and radio stations – Popular English newspapers published and sold in Mumbai include the Times of India, Mid-day, DNA, and Indian Express. Marathi newspapers include Loksatta, Sakal, Lokmat and Maharashtra Times. In addition to these papers, newspapers are also printed in other Indian languages. Mumbai is one of the most expensive and populas city of India. |