Reflecting the growing global economic clout of the Asian region, three Indian cities - Mumbai, New Delhi and Bangalore have been ranked among the top 75 centres of commerce in the world.
According to a study titled 'Mastercard Worldwide Centres of Commerce Index,' Mumbai is ranked 48th. In terms of financial flow the presence of Mumbai (ranked 7) and Shanghai (ranked 9) reflects the growing importance of India and China in global financial markets.
With the Indian government keen on making Mumbai a bigger financial hub, it is expected that, with time, the city will leapfrog into the list of top 10 financial centres globally.
The MasterCard study states that the future appears to belongs to Asia and Eastern Europe, whose cities represent the fastest rising regions within the index.
Text: Rediff Business Desk
Image: An aerial view of the Bandra-Worli Sea Link in Mumbai. | Photograph, courtesy: Hindustan Construction Company
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