Mumbai, is the financial centre and the most populous city of India with an estimated city proper population of 12.5 million (1.25 crore).[1] The city is the entertainment, fashion, and commercial centre of India. Mumbai hosts the largest urban economy of any city in India as it is the financial capital of an almost US$ 4 trillion Indian economy in nominal terms. According to recent estimates Mumbai Metro's nominal GDP is estimated to be US$277.98 billion,[2][3][4][5]and GDP (PPP) is estimated to be US400 billion,[6][7][8][9] Mumbai's GDP (PPP) per capita rounds up to around US$23,000.[10][11] It is the richest Indian city and 12th richest city in the world with a net wealth of around US$1 trillion with 46,000 millionaires and 92 billionaires.[12][13][14][15] Mumbai accounts for slightly more than 6.16% of India's economy, contributing 10% of factory employment, 30% of income tax collections, 45% of entertainment tax, 60% of customs duty collections, 20% of central excise tax collections, 40% of foreign trade, 100% of stock market assets and rupees 1,60,000 crore (US$20 billion) in corporate taxes to the Indian economy.[16]
The headquarters of several Indian financial institutions, such as the Bombay Stock Exchange, the Reserve Bank of India, the National Stock Exchange, the 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. Dalal Street, nicknamed the Wall Street of Mumbai,[17] is home to the Bombay Stock Exchange and several financial institutions. Many foreign corporations also have their branch headquarters in the South Bombay area. Mumbai is also home to some of India's richest people, including Mukesh Ambani.[18]
Mumbai is the world's 17th largest city by GDP.[6][19] Mumbai was ranked among the fastest cities in India for business startup in 2009.[20] Mumbai has a nominal GDP per capita of around US$11,200.[21]
- ^ "Provisional Population Totals, Census of India 2011; Cities having population 1 lakh and above" (PDF). Office of the Registrar General & Census Commissioner, India. Archived from the original (PDF) on 7 May 2012. Retrieved 26 March 2012.
- ^ "Global Wealth GDP Nominal Distribution: Who Are The Leaders Of The Global Economy? – Full Size". www.visualcapitalist.com. Retrieved 26 April 2023.
- ^ "Mumbai-C40 cities". C40.org. Retrieved 16 July 2024.
- ^ "Worlds richest cities by GDP Nominal". Rankingroyals.com. Retrieved 19 April 2024.
- ^ "Gross domestic product (GDP) of major cities in India in 2022". statista.com. Retrieved 26 April 2023.
- ^ a b "Mumbai 17th in global GDP list, says survey". 3 June 2017.
- ^ Lewis, Clara (28 November 2016). "Delhi, not Mumbai, India's economic capital". The Times of India. Retrieved 11 September 2023.
- ^ "Global Wealth PPP Distribution: Who Are The Leaders Of The Global Economy? – Full Size". www.visualcapitalist.com. Archived from the original on 13 October 2021. Retrieved 24 November 2022.
- ^ "India needs its own $1 trillion states; Is Mumbai the answer?". financialexpress.com. Retrieved 18 September 2022.
- ^ "Why Mumbai". Indiachem.in. Retrieved 8 April 2022.
- ^ "Mumbai 12th wealthiest city in the world, New York number one with 65 billionaires". BusinessToday.in. Retrieved 28 January 2021.
- ^ "Hurun Global Rich List 2024". Hurun Research Institute. Retrieved 19 April 2024.
- ^ "Mumbai is the 12th wealthiest city in the world, leaving Paris and Toronto behind". GQ India. 14 October 2019. Retrieved 16 September 2021.
- ^ "Mumbai among the world's top cities with most Billionaires". 8 June 2021. Retrieved 7 November 2021.
- ^ "Mumbai 12th richest city globally; total wealth at USD 1050 billion". The Economic Times. Retrieved 16 September 2021.
- ^ "Mumbai, Mumbai city, Mumbai tourism, Mumbai tour, Maharashtra Capital Mumbai, Commercial Capital Mumbai, Bollywood Mumbai, Mumbai Transport". Archived from the original on 11 October 2007. Retrieved 12 October 2007.
- ^ James Chen. "What Is Dalal Street?". Dotdash Meredith.
- ^ "Here are the 10 richest people in Mumbai". cnbctv18.com. 18 May 2018. Retrieved 2 March 2022.
- ^ 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.
- ^ "Doing Business in India 2009". World Bank. Retrieved 8 June 2010.
- ^ "What is Mumbai's economic composition". Metroverse.cid.Harvard.edu. Retrieved 16 April 2023.