Mumbai

Mumbai (Marathi: ????? ) (pronounced {{IPA|/mum?a?i/}} in Marathi, and {{IPA|/mʊm'baɪ/}} in English), formerly known as Bombay ({{IPA2|bɒm'beɪ}}), is the capital of the Indian state of Maharashtra and is the most populous Indian city with a 2005 estimated population of about 13 million.{{ref|population}} Mumbai is located on Salsette Island off the west coast of India. Along with the neighbouring towns, it forms one of the world's most populous metropolitan areas, with an extended population of 17 million. The city, which has a deep natural harbour, is also the largest port in western India, handling over half of India's passenger traffic.

Economy

Mumbai contributes 10% of factory employment, 33% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of India's foreign trade and rupees 40,000 crore (US $9 billion) in corporate taxes{{ref|manorama}}. Headquarters of a number of Indian financial institutions such as the Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, the Mint, as well as numerous Indian conglomerates such as the Tata Group, Godrej and Reliance are located in Mumbai. Most of these offices are located in downtown South Mumbai which is the nerve centre of the Indian economy, leading its Dalal Street to become known as "the Indian Wall Street". Many foreign establishments also have their branches in this area.

Related Topics:
Factory - Income tax - Customs duty - Excise tax - Foreign trade - Rupees - Crore - US $ - Billion - Corporate tax - Bombay Stock Exchange - Reserve Bank of India - National Stock Exchange - Mint - Tata Group - Godrej - Reliance - South Mumbai - Dalal Street - Wall Street

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Mumbai has traditionally owed its prosperity largely to its textile mills and its seaport till the 1980s. This has now been replaced by industries employing more skilled labour such as engineering, diamond polishing, healthcare and information technology. As Mumbai is the state capital, government employees make up a large percentage of the city's workforce. Mumbai also has a large unskilled and semi-skilled labour population, who primarily earn their livelihood as hawkers, taxi drivers, mechanics and other such proletarian professions. The port and shipping industry too employs many residents directly and indirectly.

Related Topics:
Textile - 1980s - Engineering - Diamond polishing - Healthcare - Information technology - Proletarian

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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. The epicentre of the Hindi movie industry, Bollywood, is also located in Mumbai, along with the largest studios and production houses.

Related Topics:
Publishing - Bollywood - Studio

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