The story
Mumbai grew as a trading port under British rule, and the cotton and opium trade of the 1800s brought banks, brokers and insurers to the city. Share brokers who met under a banyan tree near Town Hall formed what became the Bombay Stock Exchange. After Independence the Reserve Bank of India, the National Stock Exchange and the market regulator SEBI were all based here, so banks, funds and large companies kept their head offices in the city. Today the work spreads from Fort and Nariman Point to Bandra-Kurla Complex and Lower Parel.
In numbers
Mumbai houses the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.
Brief Industrial Profile of Mumbai District, MSME-DI (Ministry of MSME) · 2012Mumbai accounts for 70% of capital transactions to India's economy and generates 5% of India's GDP (as printed in the MSME-DI district profile).
Brief Industrial Profile of Mumbai District, MSME-DI (Ministry of MSME) · 2012Mumbai is the commercial capital of India and has evolved into a global financial hub.
IBEF – Maharashtra infographic, April 2026 · 2026
Ways in for a newcomer
- Become a registered sub-broker, mutual fund distributor or insurance agent (needs AMFI/IRDAI/NISM certification)
- Accounting, GST and compliance services for the thousands of small firms that serve banks and brokers
- Fintech and software services: KYC, payments, data and back-office tools
- Office support: document storage, courier, catering and housekeeping for BKC and Lower Parel offices
Problems the cluster faces
- Very high office rent and housing cost
- Strict licensing by SEBI, RBI and IRDAI for any regulated activity
- Some financial work has moved to GIFT City (Gujarat) and to Bengaluru and Gurugram
- Long commutes and crowded transport
Businesses to start here
IT Support and Managed Services →Web Designing Studio →Cyber Café & Back-Office Services →Mobile App / Software Development Studio →