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Economy and Politics in Mumbai

One of the most vibrant and bustling cities in the world, Mumbai is the lifeline of India. Since its inception, Mumbai has always been a commercial center and over the years the city has emerged as the financial capital of the country. The city is the headquarters for almost all major industrial powerhouses and financial corporations in India. The city is the most crucial contributory factor in India's rise to the status of a global economic super power. Hence, it is not surprising that the economy and politics in Mumbai has a larger effect on the overall affairs of the nation.

Economy in Mumbai

Mumbai emerged as a major trading and commercial center in India since the British established their rule in the country. The most important factor that led to the financial growth of Mumbai was its port. The port of Mumbai is still the largest port in India. Apart from it, Mumbai also has a thriving cotton textile industry and consists of a large number of textile mills and has earned the title of “the Manchester of the East�. Apart from these factors, the Mumbai Stock Exchange (BSE), which has now become the identity of the city and is the hub of some of the largest financial deals and bids in the country. Yet another factor that contributes to the economy of Mumbai is the Hindi film industry (Bollywood), which has made the city its base since several decades. Some of the largest industrial giants of India like the Tatas, Reliance, ICICI and Life Insurance Corporation of India (LIC) have made Mumbai their home. These factors make Mumbai not just an economic hub but also a political cornerstone of India.

Politics in Mumbai

The economy and politics in Mumbai has its own script and position in the overall political framework of India. Mumbai is a metropolitan city and people of all religions, castes, races, languages, sects and nationalities have been living in this city for generations together. Till the 1970s the Congress party mainly controlled Mumbai. However, in 1966, the Shiv Sena came into existence mainly with the aim of safeguarding the rights of the ‘locals' against the ‘outsiders'. Since then this party, led by the dynamic Bal Thackeray , holds the reigns of the city. In 1995, Shiv Sena decided to go in for a coalition with Bhartiya Janata Party (BJP – a national level political party) and has been consistently governed the city for several years.

This represents the overall picture of the economy and politics in Mumbai , which has a great influence on the politics and economics at the national level.