The University of Columbia landed in Mumbai with its 25 students .Mumbai is the financial and commercial capital of India. From being an ancient city of fishing community consisted of cluster of seven islands , it became south Asia's largest city . It is seventh among the top ten cities of billionairs and ranked as an "Alfa World City".
Entrance of Mumbai harbor is marked by the 'Gateway of India . It is most chaotic and crowded city. For several decades it has become main financial services for infrastructure development and private investment. Until 1970s Mumbai owed its prosperity largely to textile mills and sea-port .Mumbai has witnessed economic boomsince the liberalisation trade Act of 1991, the financial boom came with outsourcing , services and export since 2000 .
Along with blue-collar skilled engineers ,the city has large unskilled , semi-skilled population who earn livelihood as hawkers, mechanics , masons and construction workers , auto and taxi -drivers, and large recycling industry located in"Dhrabi"( which is known as the largest slum of Asia), is increasing . They played a key role in the emerging economy of this country . The city has an estimated 15, 000 single-room factories. Thousands of migrants from all over the country thronged here for better income and livelihood All financial regulator sectors such as SEBI, NSE, RBI and BSE are based in Mumbai. Mumbai is the hub of Bollywood Film Industry.Being the financial, commercial and entertainment capital of India, Mumbai alone contributes more than 5%of. the total GDP of industrial output.
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