Mumbai, India
Mumbai, formerly known as Bombay is the capital of the Indian State of Maharashtra. Situated along the west coast of India, Mumbai features a port that handles more than half of India's seafaring passenger traffic and a considerable amount of its maritime cargo. Mumbai is one of the world's top ten centers of commerce by global financial flow, home to such important financial institutions as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India and the corporate headquarters of many leading Indian companies and numerous multinational corporations. Bollywood - India's Hindi film industry which produces the largest number of films per year in the world, also bears a Mumbai address.
Many of India's numerous conglomerates (including State Bank Of India, Tata Group, Godrej and Reliance), and some Fortune Global 500 companies are based in Mumbai. Many foreign banks and financial institutions also have branches in Mumbai. Up until the 1980s, Mumbai owed its prosperity largely to textile mills and the seaport, but the local economy has since diversified to include engineering, diamond-polishing, healthcare and information technology. Mumbai is home to the Bhabha Atomic Research Center, and most of India's specialized and technology driven industries, with modern industrial infrastructure and availability of vast, skilled human resources. 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.