Importance Of Globalization In Mumbai

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4) IMPORTANCE (RATIONALE OF PROPOSED INVESTIGATION)
The growth of Mumbai is remarkable in the sense that it was a set of seven small islands inhabited by traditional fisherman mostly. In the late 18th and early 19th century railway network came into being in Mumbai due to which Mumbai became central in the trade and commerce and with the emergence of port, city went into international ground. Textile industry which was flourishing earlier now has become the thing of the past. The downfall of textile industry led to emergence of various service sector activities. Like I.T, Tele working, BPO, tourism. At the beginning of 20th century Mumbai became established industrial center with the textile industry dominating its economy, but in the post-independence period Mumbai diversified with its industrial base by the growth of pharmaceuticals, chemical industries, engineering products and consumer goods. Mumbai city has experienced economic and demographic growth over time, without restraint. The issue of population growth and migration has continued to be the core issue from the side of Employment Opportunity.
India took a historical step in 1991 to integrate Indian economy with the world economy through New Economic Policy (NEP) which gave India new direction that has three important components. (1) Liberalization (2) Privatization (3) Globalization, .LPG model.
The LPG policies of India -1991 have resulted in many changes in the economy. Mumbai being the financial and commercial

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