Reform moments | Reforms hit India's mega cities

The ongoing Economic liberalization after 1991 has had a significant impact on India’s mega-cities.<br /><br />More than a third of foreign companies currently active in India’s financial capital - Mumbai were set-up after 1991. This was largely due to its perception as a gateway city. As India’s economic powerhouse, Mumbai not only contributes the highest percentage to the GDP but is responsible for 70% of capital transactions.