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Industrial Development in Mumbai after Independence

By Nilesh Pawaskar → Thursday, 12 January 2017
written by Akriti 

Industrial Development in Mumbai after Independence
Mumbai!! The word only takes us into the city of dreams and passions. Yes, we all know that Mumbai is famous for its fast and glamorous lifestyle and it is the city that never sleeps. It is one of themost populated cities of India providing a living to crores of people.Everyone in India knows that it is the one stop destination to fulfill your dreams. But do we know anything about Mumbai’s industrial progress since the time of independence? I guess very few of us would be knowing about it. Here is a short article informing about Mumbai’s industrial progress since the time of independence.

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Mumbai(earlier Bombay) is the capital city of Maharashtra and it is known as the commercial and financial city of India.  Mumbai started developing at the time of British rule with the establishment of acotton textile industry in the year 1854. The city never looked back since then and developed even more after independence. The cotton mills increased from 378 to 1782 after independence.  The new industries being set up in the city includes diamond industry, information technology industry, engineering industry, fashion industry, tourism industry and so on.

The headquarters of many big industries resides in the city. India’s top private industries Reliance Group, Tata Group, Aditya Birla Group are based in Mumbai which contributes a large amount of India’s GDP.  These industries have developed many large and small scale industries in Mumbai.
There are many consumer based industries that have been developed in Mumbai which includes Hindustan Unilever, Godrej, proctor and gamble and lots more. Information Technology industry which includes companies like Wipro, HCL technologies, Tata consultancy services, Tech Mahindra, MindTree, Hexaware Technologies and much more is also a part of this big city. These companies hire young talents and provide employment opportunities.  Many people migrate to Mumbai to get into IT sector.

Mumbai’s film industry has seen a tremendous growth in past few decades with films entering 100 crores+ box office collection. Thousands of people step into Mumbai everyday with the dream of getting into thefilm industry. Bollywood has taken up the development of Mumbai to next level. Today, Mumbai is known for its film industry more than anything else.
Diamond industry is developing at a fast pace in Mumbai. Bharat Diamond Bourse (BDB) is the largest diamond exchange in the world which is situated in Mumbai. There are industries for cutting and polishing of diamonds which have been developed in Mumbai in past few years.
The city also witnessed the development of many petrochemical industries. Being a sea-side city Mumbai provides quick access to many petrochemical requirements and therefore has attracted many petrochemical industries. Mumbai’s infrastructure is quite suitable for such kind of industries.  The most reputed Reliance Group also has a petrochemical plant situated in Mumbai.  Mumbai Petrochemical Plant is responsible for the development of many petrochemical players to set up petrochemical plants in the city.

There has been also a tremendous growth in pharmaceuticals industry after independence. Industries like Cipla Limited, Colgate-Palmolive India Limited, Glenmark Pharmaceuticals etc have set up their industries in Mumbai. GlaxoSmithKline Pharmaceuticals Limited is one of the leading pharmaceutical industry in Mumbai that earns high revenue every year and provides employment to many people.

Mumbai has witnessed a rapid growth in the development of steel industry after India got freedom.  Tata Steel Limited which is a subsidiary of Tata Group has its headquarters in Mumbai. The industry produces steel, steel products, wires etc.  It was declared 10th largest steel producing company in the world in the year 2015.The government has also taken various initiatives to boost up the expansion of steel industries in Mumbai and other countries.  Other such industries operating on themedium scale are Mahavir Metal Corporation, Canara Steel, and Piyush Steel etc.
The city is also the financial hub of the country as it is the home to central bank of India (Reserve Bank Of India), and also the two major stock exchanges of the country National Stock Exchange of India and Bombay Stock Exchange.

So, we can say that Mumbai has emerged as the greatest manufacturing city for almost everything listing from IT sector to Steel or Textile Industries. It has seen a tremendous growth in its industrial sector ever since India got independence. It is referred to as the industrialized city of India with India’s busiest airport and seaport. The city’s fast lifestyle, infrastructure, high standards of living, increasing industries surely make it a cosmopolitan city. This is the reason why lakhs of people travel to Mumbai daily in search of their livelihood.
Mumbai has developed a lot after India got freedom and its major development lies in the development of the industries making it the most industrialized city in India and a center of commercial, business, and financial activities.

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