It is double bonanza for Maharastra. Just a few weeks back, a study showed that Pune would be the 7th Indian metro. Now, its Mumbai’s turn. Mumbai is the top Indian city in the list of 65 financial centres of emerging economies. This is for the emerging economies of Russia, China, India, South Africa, Thailand and Brazil. Mumbai along with 7 other Indian cities made it to the list. The ranking is done by MasterCard based upon 8 parameters.
The cities are judged based on the following 8 parameters.
- Economic and commercial environment
- Economic growth and development
- Business environment
- Financial services environment
- Commercial connectivity,
- Education and IT connectivity
- Quality of urban life
- Risk and security
The rankings of the Indian cities are below :
19. Mumbai
28. New Delhi
38. Bangalore
39. Chennai
46. Hyderabad
48. Kolkata
52. Pune
54. Coimbatore
Mumbai is ranked No. 1 for Financial services environment. It might have slipped in the rest of the parameters which pushed it to the 19th rank. Considering the list is for emerging economies, Indian cities should have done well. China’s dominance is clear with 15 of its cities figuring in the list. Shanghai and Beijing topped the list. China might just continue to dominate these ranking for a while. Mumbai if at all can improve upon the rest of the parameters to stay in the competition and attract more investments.
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Its great to find that there are several Indian cities are featured in this list. But we Indians need at leas 10 more cities like these. This country has more than 1.5 billion people and if we check out the proportion of population and number of cities this number would stand lot less than needed.