Mumbai is the capital of the Indian state of Maharashtra. Mumbai is the commercial and entertainment centre of India, generating 5% of India's GDP, and accounting for 25% of industrial output, 40% of maritime trade, and 70% of capital transactions to India's economy. Mumbai is home to important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India and the corporate headquarters of numerous Indian companies and multinational corporations. The city also houses India's Hindi film and television industry, known as Bollywood. India is in Southern Asia, bordering the Arabian Sea and the Bay of Bengal, between Burma and Pakistan. The climate varies from tropical monsoon in the south to temperate in the north. The official languages are Hindi and English. Business is conducted in English. Indian business associates may speak to one another in Hindi or their local language, it is not expected of foreign business executives to speak or understand a local language. Hotel and airline staff speak English. The main religions are Hinduism, Islam, Christianity, Sikhism, Buddhism and Jainism. The economy of India is the twelfth largest economy in the world by nominal value and the fourth largest by purchasing power parity (PPP). In the 1990s, following economic reform from the socialist-inspired economy of post-independence India, the country began to experience rapid economic growth, as markets opened for international competition and investment. In the 21st century, India is an emerging economic power with vast human and natural resources, and a huge knowledge base. Business dress is smart, conservative and discreet. Business is generally best conducted by maintaining an even conversational tone and to restrain any signs of impatience, frustration or anger. Indians prefer to be addressed by their professional titles or by Mr, Mrs, Miss. It is best not use their first names unless invited to do so. The security risk for expatriates in India is generally medium to high, but varies across the country. Risks include petty crime, such as pickpocketing, mainly in crowded tourist areas, crime against women (including rape), risks associated with protest action (which can become violent), and terrorism by separatist groups and guerrillas, although the risk to expatriates is relatively low. The currency of India is the Indian Rupee (INR). Medical facilities are not generally comparable to those of Western Europe and North America, especially in rural areas. In major cities private medical care is available, but it is expensive. Dengue fever is common. The population of Mumbai is 20.8 Million (Metro) (2019 est.), while the inflation rate (CPI) is 2.92% for India as at April 2019. Xpatulator Hypothetical Tax for India is based on the current personal income tax rates of up to 30%, plus additional surcharges of up to 10% to 15% for high income earners, progressive up to a combined 45%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Mumbai, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Mumbai as at 1 April 2019 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: Very Low 3) Communication: Very Low 4) Education: Very Low 5) Furniture & Appliances: Average 6) Groceries: Low 7) Healthcare: Very High 8) Household Accommodation: High 9) Miscellaneous: Low 10) Personal Care: Very High 11) Recreation & Culture: Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Mumbai is for example 2.7% more expensive than Houston TX for groceries, 42.2% more expensive for household costs than Kuala Lumpur, and -24.6% cheaper for transport costs than Dubai. The hardship premium for Mumbai for an expat from Perth, is for example 20%, i.e. host location (Mumbai) premium of 30% minus home (Perth) location premium of 10%. Mumbai is ranked as a high degree of hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Mumbai? Register subscribe to your home location and Mumbai and run your personalised reports.