Mumbai Economy :

Mumbai is India's largest city, and is called the financial capital of the country. It serves as an important economic hub of the India, contributing 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 Rs. 40 billion (US$ 800 million) in corporate taxes. Mumbai's per-capita income is Rs. 48,954 (US$ 980) which is almost three times the national average. Many of India's numerous conglomerates (including State Bank of India, LIC, Tata Group, Godrej and Reliance), and five of the Fortune Global 500 companies are based in Mumbai. Many foreign banks and financial institutions also have branches in this area, the World Trade Centre (Mumbai) being the most prominent one. 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 and information technology. Mumbai is home to the Bhabha Atomic Research Centre, and most of India's specialized, technical industries, having a modern industrial infrastructure and vast, skilled human resources. Rising venture capital firms, start-ups and established brands work in aerospace, optical engineering, medical research, computers and electronic equipment of all varieties, shipbuilding and salvaging, and renewable energy and power.

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 major ports in India. In Dharavi, in central Mumbai, there is an increasingly large recycling industry, processing recyclable waste from other parts of the city; the district has an estimated 15,000 single-room factories.

Most of India's major television and satellite networks, as well as its major publishing houses, are headquartered here. The centre of the Hindi movie industry, Bollywood is the largest film producer in India and one of the largest in the world. The name Bollywood is a portmanteau of Bombay and Hollywood. Marathi television and Marathi film industry are also based in Mumbai.

Along with the rest of India, Mumbai, its commercial capital, has witnessed an economic boom since the liberalization of 1991, the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in this decade. The middle class in Mumbai is the segment most impacted by this boom and is the driver behind the consequent consumer boom.[citation needed] Upward mobility among Mumbaikars has led to a direct increase in consumer spending.[citation needed] Mumbai has been ranked 48th on the Worldwide Centres of Commerce Index 2008. In April 2008, Mumbai was ranked seventh in the list of "Top Ten Cities for Billionaires" by Forbes magazine, but in terms of average wealth among the billionaires, Mumbai had the highest rank among these ten cities.