Mumbai, earlier known as Bombay, has been described as the most ‘city-like city’ in India; some call it the urbs prima of India while others address it as the New York of the East. It was the ‘Gateway’ to India in colonial days and it remains so even today. In terms of population size within the municipal limits, Mumbai ranks second in the world. As an urban agglomeration, it ranks sixth among the large cities of the world. The ‘Vision Mumbai’ document prepared by McKinsey & Co. provides a blueprint for its transformation into a world city within the 2003-13 decade.

Mumbai, apart from being the capital of the state of Maharashtra, is the Indian financial capital and a dominant urban landscape of the western part of the ountry. Its nodal location in terms of land, sea and air connectivity, both national and international, adds to its magnetism as a leading industrial and commercial centre. It is the nerve centre of capital markets, financial services, and manufacturing, playing a crucial role in the growth and development of the Indian economy. It has attracted a large number of national and multinational firms since a long time. The exploitation of the offshore oilfields such as Bombay High and the city's key role in naval defence has enhanced its supremacy as a mega city of India.