Mumbai which is also known as the financial hub of our country is witnessing a major boom in the startups. Many successful entrepreneurs have made their foray in the vast marketplace over here. With the advent of the “Make in India” campaign, Mumbai has given fresh energy to the startup culture. The state capital gives entrepreneurs a vast number of allied services that can help them flourish their startup and potential customers. It is one of the top ten commercial centers which supports the global financial flow. It is also known as the entertainment and commercial capital of our country. Earlier it was famous for the cotton industry, but now it’s services are diversified. The giant corporations located over here and the vast network opportunities that this city provides gives newer scope to explore for the entrepreneurs. You can also find the best travel management companies over here for an alluring trip to any corner of the world.
Commercial capital
Mumbai offers it’s people a bustling and throbbing commercial life with the largest film industry, largest port, two airports that ensure connectivity across the world and numerous bars and restaurants. It is the hub for industries, trade, and business and is a growing center of advertising and media industry. The Bollywood film industry produces across 900 movies each year. It is the sprawling center of entertainment and has one through outstanding development in recent years.
The big networking companies like Bombay Stock Exchange, Reliance Industries and Reserve Bank Of India are the flourishing home for the startup founders. The Powai Valley dubbed as the country’s Silicon Valley has become a hotspot for new startups and business ventures. Most of the PowaiValley startups have their co-founder belonging to the famous IIT Bombay. With the talent inflow and IIT edge, the startups are poised on the staircase of absolute success. Other specialized economic activities over here are computers, diamond cutting, and movie making. Bollywood produces movies more than other cities across the nation.
The harbor facilities over here make it one of the largest ports in entire Western India. The deepwater harbor facilitates international deliveries which is a major factor for the promotion of trade over here. Around 40% of India ’s maritime trade is handled through these ports. Mumbai holds around 25% industrial output and 70% of the financial transactions in our economy. It also offers great business travel solutions which is necessary for the growth of any industry.
Startup opportunities
Mumbai has recently emerged as the fastest growing hub of B2B startups in our country. According to the reports of industry tracker in the year 2017, there were around 4,582 active startups over here. It is also becoming the home to tech enterprise as nearly 50 percent people are building applications suitable for their enterprise. Large corporate companies such as TCS, L&T, and SAP have made collaboration with SINE to provide support to the startups with their CSR fund.
With a GDP of 6.16% and huge financial activities, Mumbai provides great business opportunities. B2B trading can be a great business option where you can identify a particular domain, and you can buy products at wholesale price to sell them in the market.
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Source: https://www.prlog.org/12755259-the-finance-hub-mumbai-that-accelerates-the-startup-growth.html
