Capital of Maharashtra - Financial Capital of India

Mumbai is the capital of Maharashtra. Mumbai is widely known as the financial, commercial, and entertainment capital of India. Until 1995, Bombay was the official name of Mumbai. This article will shed more light on the financial centre of India and the state of Maharashtra.

Mumbai – Financial Centre of India

• As per the 2011 census of India, Mumbai is the most populous city in India.
• Mumbai lies on the Konkan coast of India.
• In India, the city of Mumbai has the highest number of billionaires and millionaires.
• In the entire world, Mumbai has the eighth-highest number of billionaires.
• There are three UNESCO world heritage sites in Mumbai.
• Around 6% of India’s GDP is generated in Mumbai.
• Mumbai accounts for 70% of India’s maritime trade.
• Mumbai accounts for 25% of India’s industrial output.
• Mumbai has many top-tier research institutes and educational institutions.
• Mumbai collects Rs 4,000 crore corporate tax.
• Mumbai accounts for 40% of India’s foreign trade.
• 33% of India’s income tax collection comes from Mumbai.
• Mumbai contributes 10% of factory employment.
• Many of India’s large business conglomerates and Fortune 500 global companies are based out of Mumbai.
• The important industries contributing to the economy of Mumbai are entertainment, automobiles, electronics manufacturing, petrochemicals, textiles, Information Technology (I.T.), leather processing, gems and jewellery, and finance.
• The major financial centres of Mumbai are Bandra Kurla Complex and Nariman Point.
• Bombay Stock Exchange (BSE) is located in Mumbai. BSE is the oldest stock exchange in Asia.

Maharashtra – A Brief Overview

• In India, Maharashtra is the third largest state by area.
• Maharashtra is the second-most populous state in India.
• Marathi is the official language of Maharashtra.
• There are 36 districts in Maharashtra.
• Two important rivers – river Godavari, and river Krishna flow through Maharashtra.
• The Arabian sea is to the west of Maharashtra.
• The neighbouring states of Maharashtra are Karnataka, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, and Telangana.
• The union territory of Dadra and Nagar Haveli and Daman and Diu lies to the northwest of Maharashtra.