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Economy

[edit]
Main article: Economy of Mumbai
The Bombay Stock Exchange is the oldest stock exchange in Asia.
Mumbai skyline from Bandra Reclamation

Mumbai is India's largest city (by population) and is the financial and commercial capital of the country as it generates 6.16% of the total GDP.[1][2][3] It serves as an economic hub of India, contributing 10% of factory employment, 25% of industrial output, 33% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of India's foreign trade and ₹40 billion (US$480 million) in corporate taxes.[4] Along with the rest of India, Mumbai has witnessed an economic boom since the liberalisation of 1991, the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in the 2000s.[5] Although Mumbai had prominently figured as the hub of economic activity of India in the 1990s, the Mumbai Metropolitan Region is presently witnessing a reduction in its contribution to India's GDP.[6]

Recent estimates of the economy of the Mumbai Metropolitan Region is estimated to be $400 billion (PPP metro GDP) ranking it either the most or second-most productive metro area of India.[7][8] Many of India's numerous conglomerates (including Larsen & Toubro, State Bank of India (SBI), Life Insurance Corporation of India (LIC), Tata Group, Godrej and Reliance),[2] and five of the Fortune Global 500 companies are based in Mumbai.[9] This is facilitated by the presence of the Reserve Bank of India (RBI), the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE), and financial sector regulators such as the Securities and Exchange Board of India (SEBI).[6]

Until the 1970s, Mumbai owed its prosperity largely to textile mills and the seaport, but the local economy has since then diversified to include finance, engineering, diamond-polishing, healthcare and information technology.[10] The key sectors contributing to the city's economy are: finance, gems & jewellery, leather processing, IT and ITES, textiles, petrochemical, electronics manufacturing, automobiles, and entertainment. Nariman Point and Bandra Kurla Complex (BKC) are Mumbai's major financial centres.[6] Despite competition from Bangalore, Hyderabad and Pune, Mumbai has carved a niche for itself in the information technology industry. The Santacruz Electronic Export Processing Zone (SEEPZ) and the International Infotech Park (Navi Mumbai) offer excellent facilities to IT companies.[11]

State and central government employees make up a large percentage of the city's workforce. Mumbai also has a large unskilled and semi-skilled self-employed population, who primarily earn their livelihood as hawkers, taxi drivers, mechanics and other such blue collar professions. The port and shipping industry is well established, with Mumbai Port being one of the oldest and most significant ports in India.[12] Dharavi, in central Mumbai, has an increasingly large recycling industry, processing recyclable waste from other parts of the city; the district has an estimated 15,000 single-room factories.[13]

Mumbai has been ranked sixth among top ten global cities on the billionaire count with 28[14] and 46000 millionaires, with total wealth of around $960 billion[15][16] it is the richest Indian city and 12th richest city in the world.[17][18] and seventh in the list of "Top Ten Cities for Billionaires" by Forbes magazine (April 2008),[19] and first in terms of those billionaires' average wealth.[20] As of 2008, the Globalization and World Cities Study Group (GaWC) has ranked Mumbai as an "Alpha world city", third in its categories of Global cities.[21] Mumbai is the third most expensive office market in the world, and was ranked among the fastest cities in the country for business startup in 2009.[22]

Civic administration

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Headquarters of the Municipal Corporation of Greater Mumbai (MCGM). The MCGM is the largest civic organisation in the country.

Greater Mumbai, an area of 603 square kilometres (233 sq mi),[23] consisting of the Mumbai City and Mumbai Suburban districts, extends from Colaba in the south, to Mulund and Dahisar in the north, and Mankhurd in the east. Its population as per the 2011 census was 12,442,373.

It is administered by the Municipal Corporation of Greater Mumbai (MCGM) (sometimes referred to as the Brihanmumbai Municipal Corporation), formerly known as the Bombay Municipal Corporation (BMC).[24] The MCGM is in charge of the civic and infrastructure needs of the metropolis.[25] The mayor, who serves for a term of two and a half years, is chosen through an indirect election by the councillors from among themselves.[26]

The municipal commissioner is the chief executive officer and head of the executive arm of the municipal corporation. All executive powers are vested in the municipal commissioner who is an Indian Administrative Service (IAS) officer appointed by the state government. Although the municipal corporation is the legislative body that lays down policies for the governance of the city, it is the commissioner who is responsible for the execution of the policies. The commissioner is appointed for a fixed term as defined by state statute. The powers of the commissioner are those provided by statute and those delegated by the corporation or the standing committee.[27]

The Municipal Corporation of Greater Mumbai was ranked 9th out of 21 cities for best governance & administrative practices in India in 2014. It scored 3.5 on 10 compared to the national average of 3.3.[28]

A brown building with a central tower and sloping roofs surrounded by trees. A grassy ground and a coconut tree are in front of it.
The Bombay High Court exercises jurisdiction over Maharashtra, Goa, Dadra and Nagar Haveli and Daman and Diu.

The two revenue districts of Mumbai come under the jurisdiction of a district collector. The collectors are in charge of property records and revenue collection for the central government, and oversee the national elections held in the city.

The Mumbai Police is headed by a police commissioner, who is an Indian Police Service (IPS) officer. The Mumbai Police is a division of the Maharashtra Police, under the state Home Ministry.[29] The city is divided into seven police zones and seventeen traffic police zones,[30] each headed by a deputy commissioner of police.[31] The Mumbai Traffic Police is a semi-autonomous body under the Mumbai Police. The Mumbai Fire Brigade, under the jurisdiction of the municipal corporation, is headed by the chief fire officer, who is assisted by four deputy chief fire officers and six divisional officers.[30] The Mumbai Metropolitan Region Development Authority (MMRDA) is responsible for infrastructure development and planning of Mumbai Metropolitan Region.[32]

Mumbai is the seat of the Bombay High Court, which exercises jurisdiction over the states of Maharashtra and Goa, and the union territory of Dadra and Nagar Haveli and Daman and Diu.[33] Mumbai also has two lower courts, the small causes court for civil matters, and the sessions court for criminal cases. Mumbai also has a special Terrorist and Disruptive Activities (TADA) court for people accused of conspiring and abetting acts of terrorism in the city.[34]

Politics

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Men in traditional Indian dresses posing for a photograph
First session of the Indian National Congress in Bombay (28–31 December 1885)

Mumbai had been a traditional stronghold and birthplace of the Indian National Congress, also known as the Congress Party.[35] The first session of the Indian National Congress was held in Bombay from 28 to 31 December 1885.[36] The city played host to the Indian National Congress six times during its first 50 years, and became a strong base for the Indian independence movement during the 20th century.[37]

The 1960s saw the rise of regionalist politics in Bombay, with the formation of the Shiv Sena on 19 June 1966, under the leadership of Balasaheb Thackeray out of a feeling of resentment about the relative marginalisation of the native Marathi people in Bombay.[38] Shiv Sena switched from 'Marathi Cause' to larger 'Hindutva Cause' in 1985 and joined hands with Bhartiya Janata Party (BJP) in the same year.[39] The Congress had dominated the politics of Bombay from independence until the early 1980s, when the Shiv Sena won the 1985 Bombay Municipal Corporation elections.[40]

In 1989, the Bharatiya Janata Party (BJP), a major national political party, forged an electoral alliance with the Shiv Sena to dislodge the Congress in the Maharashtra Legislative Assembly elections. In 1999, several members left the Congress to form the Nationalist Congress Party (NCP) but later allied with the Congress as part of an alliance known as the Democratic Front.[41] Other parties such as Maharashtra Navnirman Sena (MNS), Samajwadi Party (SP), Bahujan Samaj Party (BSP), All India Majlis-e-Ittehadul Muslimeen (AIMIM) and several independent candidates also contest elections in the city.[42]

In the Indian national elections held every five years, Mumbai is represented by six parliamentary constituencies: North, North West, North East, North Central, South Central, and South.[43] A member of parliament (MP) to the Lok Sabha, the lower house of the Indian Parliament, is elected from each of the parliamentary constituencies. In the 2019 national election, all six parliamentary constituencies were won by the BJP and Shiv Sena in alliance, with both parties winning three seats each.[44]

In the Maharashtra state assembly elections held every five years, Mumbai is represented by 36 assembly constituencies.[45][46] A member of the legislative assembly (MLA) to the Maharashtra Vidhan Sabha (legislative assembly) is elected from each of the assembly constituencies. In the 2019 state assembly election, out of the 36 assembly constituencies, 16 were won by the BJP, 11 by the Shiv Sena, 6 by the Congress, 2 by the NCP and one by independent candidate.[47]

Elections are also held every five years to elect corporators to power in the MCGM.[48] The Corporation comprises 227 directly elected Councillors representing the 24 municipal wards, five nominated Councillors having special knowledge or experience in municipal administration, and a mayor whose role is mostly ceremonial.[49][50][51] In the 2012 municipal corporation elections, out of the 227 seats, the Shiv Sena-BJP alliance secured 107 seats, holding power with the support of independent candidates in the MCGM, while the Congress-NCP alliance bagged 64 seats.[52] The tenure of the mayor, deputy mayor, and municipal commissioner is two and a half years.[53]

Transport

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Rapid transit map of Mumbai
The Mumbai Suburban Railway system carries more than 6.99 million commuters on a daily basis. It has the highest passenger density of any urban railway system in the world.
Mumbai Metro provides connectivity with eastern and western part of the city.
The Mumbai Monorail opened in February 2014 is the seventh largest Monorail system in the world.
BEST buses carry a total of 2.8 million passengers daily.
The black and yellow Premier Padmini Taxis are iconic of Mumbai.
The Bandra-Worli Sea Link is a 5.6 kilometers long cable-stayed bridge that connects central Mumbai with its western suburbs.
Chhatrapati Shivaji International Airport, Mumbai, India
Jawaharlal Nehru Port is the busiest port in India.

Public transport

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Main article: Public transport in Mumbai

Public transport systems in Mumbai include the Mumbai Suburban Railway, Monorail, Metro, Brihanmumbai Electric Supply and Transport (BEST) buses, black-and-yellow meter taxis, auto rickshaws and ferries. Suburban railway and BEST bus services together accounted for about 88% of the passenger traffic in 2008.[54] Auto rickshaws are allowed to operate only in the suburban areas of Mumbai, while taxis are allowed to operate throughout Mumbai, but generally operate in South Mumbai.[55] Taxis and rickshaws in Mumbai are required by law to run on compressed natural gas (CNG),[56] and are a convenient, economical, and easily available means of transport.[55]

Railway

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The Mumbai Suburban Railway, popularly referred to as Locals forms the backbone of the city's transport system.[57] It is operated by the Central Railway and Western Railway zones of the Indian Railways.[58] Mumbai's suburban rail systems carried a total of 6.3 million passengers every day in 2007.[59] Trains are overcrowded during peak hours, with nine-car trains of rated capacity 1,700 passengers, actually carrying around 4,500 passengers at peak hours.[60] The Mumbai rail network is spread at an expanse of 319 route kilometres. 191 rakes (train-sets) of 9 car and 12 car composition are utilised to run a total of 2,226 train services in the city.[61]

The Mumbai Monorail and Mumbai Metro have been built and are being extended in phases to relieve overcrowding on the existing network. The Monorail opened in early February 2014.[62] The first line of the Mumbai Metro opened in early June 2014.[63]

Mumbai is the headquarters of two zones of the Indian Railways: the Central Railway (CR) headquartered at Chhatrapati Shivaji Terminus (formerly Victoria Terminus), and the Western Railway (WR) headquartered at Churchgate.[64] Mumbai is also well connected to most parts of India by the Indian Railways. Long-distance trains originate from Chhatrapati Shivaji Terminus, Dadar, Lokmanya Tilak Terminus, Mumbai Central, Bandra Terminus, Andheri and Borivali.[65]

Bus

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Mumbai's bus services carried over 5.5 million passengers per day in 2008,[54] which dropped to 2.8 million in 2015.[66] Public buses run by BEST cover almost all parts of the metropolis, as well as parts of Navi Mumbai, Mira-Bhayandar and Thane.[67] The BEST operates a total of 4,608 buses[68] with CCTV cameras installed, ferrying 4.5 million passengers daily[54] over 390 routes. Its fleet consists of single-decker, double-decker, vestibule, low-floor, disabled-friendly, air-conditioned and Euro III compliant diesel and compressed natural gas powered buses.[69] BEST introduced air-conditioned buses in 1998.[70] BEST buses are red in colour, based originally on the Routemaster buses of London.[71] Maharashtra State Road Transport Corporation (MSRTC, also known as ST)[72] buses provide intercity transport connecting Mumbai with other towns and cities of Maharashtra and nearby states.[73][74] The Navi Mumbai Municipal Transport (NMMT) and Thane Municipal Transport (TMT) also operate their buses in Mumbai, connecting various nodes of Navi Mumbai and Thane to parts of Mumbai.[75][76]

Buses are generally favoured for commuting short to medium distances, while train fares are more economical for longer distance commutes.[77]

The Mumbai Darshan is a tourist bus service which explores numerous tourist attractions in Mumbai.[78] Bus Rapid Transit System (BRTS) lanes have been planned throughout Mumbai.[79] Though 88% of the city's commuters travel by public transport, Mumbai still continues to struggle with traffic congestion.[80] Mumbai's transport system has been categorised as one of the most congested in the world.[81]

Water

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Water transport in Mumbai consists of ferries, hovercraft and catamarans. Services are provided by both government agencies as well as private partners.[82] Hovercraft services plied briefly in the late 1990s between the Gateway of India and CBD Belapur in Navi Mumbai. They were subsequently scrapped due to lack of adequate infrastructure.[83]

Road

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Mumbai is served by National Highway 48, National Highway 66, National Highway 160 and National Highway 61.[84] The Mumbai–Chennai and Mumbai–Delhi prongs of the Golden Quadrilateral system of National Highways start from the city. The Mumbai-Pune Expressway was the first expressway built in India.[85] The Eastern Freeway was opened in 2013. The Mumbai Nashik Expressway, Mumbai-Vadodara Expressway,[86] are under construction. The Bandra-Worli Sea Link bridge, along with Mahim Causeway, links the island city to the western suburbs.[87] The three major road arteries of the city are the Eastern Express Highway from Sion to Thane, the Sion Panvel Expressway from Sion to Panvel and the Western Express Highway from Bandra to Bhayander.[88] Mumbai has approximately 1,900 km (1,181 mi) of roads.[89] There are five tolled entry points to the city by road.[90]

Mumbai had about 721,000 private vehicles as of March 2014,[91] 56,459 black and yellow taxis as of 2005,[92] and 106,000 auto rickshaws, as of May 2013.[93]

Air

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The Chhatrapati Shivaji Maharaj International Airport (formerly Sahar International Airport) is the main aviation hub in the city and the second busiest airport in India in terms of passenger traffic.[94] It handled 36.6 million passengers and 694,300 tonnes of cargo during FY 2014–2015.[95] An upgrade plan was initiated in 2006, targeted at increasing the capacity of the airport to handle up to 40 million passengers annually[96] and the new terminal T2 was opened in February 2014.[97]

The proposed Navi Mumbai International airport to be built in the Kopra-Panvel area has been sanctioned by the Indian Government and will help relieve the increasing traffic burden on the existing airport.[98]

The Juhu Aerodrome was India's first airport, and now hosts the Bombay Flying Club and a heliport operated by state-owned Pawan Hans.[99]

Sea

[edit]

Mumbai is served by two major ports, Mumbai Port Trust and Jawaharlal Nehru Port Trust, which lies just across the creek in Navi Mumbai.[100] Mumbai Port has one of the best natural harbours in the world, and has extensive wet and dry dock accommodation facilities.[101] Jawaharlal Nehru Port, commissioned on 26 May 1989, is the busiest and most modern major port in India.[102] It handles 55–60% of the country's total containerised cargo.[103] Ferries from Ferry Wharf in Mazagaon allow access to islands near the city.[104]

The city is also the headquarters of the Western Naval Command, and also an important base for the Indian Navy.[24]

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