Bustling Mumbai could be turned into India’s own Canary Wharf
The city could grow from a $400bn economy to a $1-trillion economy
Mumbai — Even as India is consumed by its upcoming elections, the world’s biggest, the country is nearing another milestone: it’s set to overtake the UK to become the world’s fifth-largest economy. By 2030, India’s GDP could top $10-trillion. Yet, unusually for such a geographically large and economically vibrant country, India has no states to compare to California in the US, China’s Guangdong province or Japan’s Kanto prefecture — all regions with $1-trillion economies. Nor does it have a city on par with New York or Tokyo, both of which boast bigger economies than countries such as Canada and Indonesia, accounting for over a tenth of national GDP apiece. India’s next leader will have a once-in-a-lifetime chance to change that by transforming the country’s commercial capital, Mumbai. A better one might never come along. Mumbai is the engine of the prosperous western state of Maharashtra, India’s largest regional economy, with a GDP of $350bn-400bn; the city contributes well over...
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