Amchi Mumbai - the city of dreams

Sixteen out of India’s 40 richest business tycoons call Mumbai home. So do hundreds of Bollywood actors and directors, more than a dozen of whom have taxable incomes exceeding $1 million a year. Then there are the bankers, consultants and other professionals whose pay is fast approaching global levels.

The city, a diamond-trading hub, also has enormous family wealth going back to the 19th century when Mumbai financiers made a fortune selling raw cotton to Manchester and opium to China.

Mumbai, formerly known as Bombay, is the capital of the state of Maharashtra, the most populous city of India, and by some measures the most populous city in the world with an estimated population of about 18 million (as of 2006). Mumbai is located on Salsette Island, off the west coast of Maharashtra. Along with its neighbouring suburbs, it forms the world’s fifth most populous metropolitan area with a population of about 20 million. The metro population ranking is projected to rise to 4th in the world by 2015 due to an annual growth rate of 2.2%. The city has a deep natural harbour and the port handles over half of India's passenger traffic and a significant amount of cargo.

Mumbai is the commercial and entertainment capital of India, and houses important financial institutions, such as the Reserve Bank of India (RBI), the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE) and the corporate headquarters of many Indian companies. Mumbai has attracted migrants from all over India because of the immense business opportunities, and the relatively high standard of living, making the city a potpourri of various communities and cultures. The city is home to India’s Hindi film and television industry, known as Bollywood. Mumbai is also one of the few cities that accommodate a national park, the Sanjay Gandhi National Park, within its city limits.

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