Why Is Mumbai an Alpha Global City?

Mumbai, India's financial capital, has long been touted as a major hub for business and finance in Asia. But what makes it an alpha global city? According to the Globalization and World Cities (GaWC) Research Network, Mumbai ranks high on their list of connected cities due to its strong presence of multinational corporations and international firms.

The GaWC ranking is based on a system that categorizes cities into 12 tiers, ranging from Alpha++ to cities with sufficiency of services. London and New York are the only two cities to be ranked as Alpha++, indicating their exceptional level of global connectivity. Mumbai, however, falls under the category of Alpha-, which still indicates its significant connection to the global economy.

So, what factors contribute to a city's ranking? According to the GaWC study, the number of firms present in a city and their level of networkedness play a crucial role. A city with a high number of multinational corporations and international firms is more likely to rank higher on the list. Mumbai scores well in this regard, being home to the headquarters of several prominent businesses such as Deloitte, Ernst and Young, KPMG, PwC, Epsilon, Experian, Barclays, Capital One, Citi, Deutsche Bank, Goldman Sachs, and Merrill Lynch.

The GaWC study also looks at the size and function of offices of large management consultancies, law firms, accountants, financial services, and advertisers based in each city. Researchers from Loughborough and Ghent University compiled the data for 707 cities across the globe, providing a comprehensive picture of global connectivity.

In addition to its ranking as an Alpha- city, Mumbai's strong presence of multinational corporations and international firms makes it an attractive destination for businesses and investors. The city's strategic location and cultural diversity also make it an ideal hub for international trade and commerce.

While Mumbai may not be ranked as high as London or New York on the GaWC list, its ranking as an Alpha- city indicates its significant connection to the global economy. With a strong presence of multinational corporations and international firms, Mumbai is well-positioned to continue playing a major role in Asia's financial landscape.

Why is mumbai an alpha global city