Why is Mumbai called the financial capital of India?

Mumbai is called the commercial capital of India, because Mumbai houses important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, and the corporate headquarters of many Indian companies. It has got both the main stock exchanges: the BSE and the NSE.

Why is Mumbai important for industries?

Mumbai is one of the ten largest trading centres in the world in terms of global financial flows, generating ca. 6\% of Indian GDP and accounting for 25\% of industrial production, 70\% of Indian maritime trade and 70\% of capital transactions for the Indian economy.

What is the main industry in Mumbai?

Though once dominated by the cotton textile industry, Mumbai’s economic base is now diversified. Textiles still remain important, but the city’s industries include petrochemicals, automobile manufacturing, metals, electronics, engineering, food processing, and a wide range of light manufacturing.

What is Mumbai famous for?

It has the highest number of millionaires and billionaires among all cities in India. Mumbai is home to three UNESCO World Heritage Sites: the Elephanta Caves, Chhatrapati Shivaji Maharaj Terminus, and the city’s distinctive ensemble of Victorian and Art Deco buildings designed in the 19th and 20th centuries.

Which city is called city of Orange?

Nagpur
Reputed to be one of the topmost Smart Cities of India, Nagpur is known by many names – ‘The Orange City’, ‘The Winter Capital of Maharashtra’ and the ‘Tiger Capital of India’.

Why Mumbai is an important city?

The city is one of the world’s top centers of commerce in terms of financial flow. It is also home to important financial institutions, such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, and corporate headquarters of many Indian companies and multinational corporations.