Projections for Mumbai’s growth in next 7 years
With a contribution of approximately 5 percent to India’s total GDP, Mumbai – the ‘Maximum City’ – is a dynamic metropolitan which is expected to witness further growth in the coming 7-year period. Mumbai’s growth over the next few years will largely be driven by the fact that the city’s prominent growth sectors – including Pharmaceuticals, Retail, Research and Development, Media, and Entertainment – will generate further employment.
Moreover, within the 2020 timeframe, Mumbai will also apparently boast superlative infrastructural facilities which will put the city nearly at par with Shanghai; thereby making it an alluring destination for multinational companies.
Despite the fact that Mumbai, in the last few years, has been losing Shipping and back-end financial jobs to Chennai, the ‘gravitational pull’ of Mumbai will continue to remain strong over the next 7 years. Although Mumbai will likely face some challenges in the future, it will retain its position as a mainstay of the Asia Pacific (APAC) region!
Source: moneycontrol.com
Asia Pacific (APAC) region, Entertainment, GDP, Media, Mumbai, Pharmaceuticals, Research and Development, Retail, Shanghai, ‘gravitational pull’ of Mumbai, ‘Maximum City
