<P> Mumbai is India 's largest city ( by population ) and is the financial and commercial capital of the country as it generates 6.16 % of the total GDP . It serves as an economic hub of India , contributing 10 % of factory employment , 25 % of industrial output , 33 % of income tax collections , 60 % of customs duty collections , 20 % of central excise tax collections , 40 % of India 's foreign trade and ₹ 4,000 crore ( US $610 million ) in corporate taxes . Along with the rest of India , Mumbai has witnessed an economic boom since the liberalisation of 1991 , the finance boom in the mid-nineties and the IT , export , services and outsourcing boom in the 2000s . Although Mumbai had prominently figured as the hub of economic activity of India in the 1990s , the Mumbai Metropolitan Region is presently witnessing a reduction in its contribution to India 's GDP . </P>
<P> Mumbai is India 's largest city ( by population ) and is the financial and commercial capital of the country as it generates 6.16 % of the total GDP . It serves as an economic hub of India , contributing 10 % of factory employment , 25 % of industrial output , 33 % of income tax collections , 60 % of customs duty collections , 20 % of central excise tax collections , 40 % of India 's foreign trade and ₹ 4,000 crore ( US $610 million ) in corporate taxes . Along with the rest of India , Mumbai has witnessed an economic boom since the liberalisation of 1991 , the finance boom in the mid-nineties and the IT , export , services and outsourcing boom in the 2000s . Although Mumbai had prominently figured as the hub of economic activity of India in the 1990s , the Mumbai Metropolitan Region is presently witnessing a reduction in its contribution to India 's GDP . </P>
why mumbai is called financial capital of india
why mumbai is called financial capital of india
as it generates 6.16 % of the total GDP
as it generates 6.16 % of the total GDP