The top three companies based in Mumbai, India

By BizClik Admin

India’s second city of Mumbai lies on the country’s western coast, where it faces the Arabian sea. Its prime location has seen it squabbled over by a succession of empires both native and foreign during the course of its long history. Today, the city is India’s wealthiest, serving as the unofficial commercial capital as opposed to the national capital of Delhi. Here, Business Chief examines three of the largest companies based in Mumbai.

State Bank of India

The State Bank of India (SBI) can trace its lineage back to firms established during the British colonial period of India’s history such as the Bank of Madras, Bank of Calcutta and Bank of Bombay. These all eventually merged into the Imperial Bank of India, which acquired its current name in the 1950s. Due to this history, it is India’s oldest bank as well as the largest. Currently, it is state controlled, with the Government of India holding a 60% stake.


Reliance Industries

Conglomerate Reliance Industries was founded in the 1960s, growing via its involvement in the textiles industry before diversifying into its current interests. The company’s many and varied subsidiaries include oil and retail divisions, as well as Jio, the country’s largest mobile network operator. Chairman and Managing Director Mukesh Ambani is the son of founder Dhirubhai Ambani, and the richest man in both India and Asia at large. He is partly known for his residence in Mumbai’s 27-story Antilia, one of the world’s most expensive domiciles.

Tata Group

One of India’s oldest companies, Tata Group can trace its history back to the founding of a trading company by 19th century Indian industrialist Jamsetji Tata. It is currently controlled by Tata Sons, a holding company controlled by the voluminous Tata family descended from Jamsetji. The conglomerate has many and varied interests, ranging from cars with Tata Motors to Tata Steel and Tata Power. The company is also well known as the owner of a number of global companies including Jaguar Land Rover.


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