Mumbai, the state capital of Maharashtra & the financial capital of India, is popularly pronounced as the city of dreams. Since childhood, you might have heard from people that if you want to achieve something in life, shift to a big city that holds the potential to feed. Mumbai is one of those dream cities of India that completes your wish to live life to the fullest.
But the question is, how does Mumbai get the name of the dream city? Let’s find out in this article about the events and scenarios that make Mumbai a city of possibilities.
History of Mumbai
Historically Mumbai was a scattered piece of landmass distributed over seven. The islands were united under an engineering project in 1784. Post-independence, Mumbai was called Bombay and was declared the capital of Maharashtra in 1960.
The textile industry previously attracted several migrants in hopes of earning money. Then’s Mumbai, was welcoming the talent across India as it was a land with complete infrastructure in India.
Current market Capitalisation
Mumbai is one of the most preferred locations for several Corporates. India’s top billionaires reside in Mumbai. To name a few: Shree Ratan Tata, Mukesh Ambani, Anand Mahindra, Rakesh Jhunjhunwala, and many more have their company HQs in the city.
Mumbai mainly caters to three major industries: Finance, Maritime (Import-Export), Media & Entertainment. The city also belongs to the world’s top ten commercial hubs in terms of financial flow. Top big organizations like Tata Group, Godrej Group, Reliance Industries, Mahindra Group, and Wipro are headquartered here.
India’s majority of the entertainment industry belongs to Mumbai. It is called the home of Bollywood & Marathi cinema industry. This film industry attracts several artists from different parts of India. The industry feeds several skilled & unskilled individuals & their families.
Being a corporate center, the city has several homegrown Conglomerates & MNCs registered. India’s top banking & non-banking financial companies operate from Mumbai.
Challenges & Opportunities in Mumbai
Mumbai never sleeps. If you have visited Mumbai at least once in your life, you will understand this statement. The overcrowded city is facing several issues: availability of land, rising pollution, and the population. Even the outskirts of Mumbai are heavily migrated. It caters to more than 10 million of the population.
This creates challenges like a shortage of water, heavy traffic jams, and contamination of air water & soil, which contribute to heavy medical bills.
The city is a trading hub for structured as well as the unstructured market. The finance industry is one of the biggest active industries in Mumbai due to the Stock exchanges: BSE & NSE. Investment banking has a huge demand for skilled talent. Millions of jobs are created in this industry annually. Along the side, the IT industry is thriving and pools highly skilled talent.
The city has several old buildings & infrastructure which are under the restructuring plans. It creates a challenge for the respective authorities to demolish the old structure & reconstruct a new building. That allows the young architecture & engineers to showcase their talent & solve the issue.
BCCI (Board of Control for Cricket in India) has its HQ in Mumbai. Wankhede cricket stadium is one of the best cricket stadiums in the world. Cricket athletes get the opportunity to showcase their talent as Mumbai has three international stadiums.
The Magic air of Mumbai
I’ve been to Mumbai several times since my childhood. It gave me a sense of opportunity & several possibilities. Many in Mumbai say, “You will never sleep hungry”. It provides what you need. Just the fact is, you must have the ability to grab the opportunity.