This is a series of articles that highlight cities in India for starting a business. We focus on the pros and cons of the Indian city and its future potential. We’ve also featured other cities such as Ahmedabad, Bengaluru and Delhi.
Most people who have knowledge about India and business would think twice before setting up a company in Mumbai right now. They are not necessarily wrong however, there are still considerable benefits to setting up your business in India’s financial capital.
With all the ambiguity surrounding Mumbai, let’s first consider the negative aspects of establishing a business there.
- Traffic and poor local transport
- High real estate prices
- Poor local infrastructure
- Increased pollution
No doubt the points mentioned above would make any business owner think twice about setting up operations in Mumbai. However, there are also a number of positive aspects that should also be considered before jumping to any decisions.
- Access to shipping ports makes it ideal for any importing/exporting business
- The financial capital of India and also considered the gateway to India
- Easily connected by road to all other major Indian cities and states
- An already established route for start-ups and new businesses
- Population of over 20 million guarantees a steady labour force
- Excellent city for networking and gaining industry insight
- Wealthy consumer base with high purchasing power
- Ideal location for finance related businesses
Although it may not be on the top of the list for establishing a business, Mumbai does encompass a number of positive attributes that still make it a strong contender.
Another crucial point to reflect on when considering cities for business expansion in India is the type of industry your business is in. If your business deals with finance, then Mumbai could be a better option. However, if your business has to do with textile manufacturing then Ahmedabad may be a better choice.
This is where the assistance of an international market expansion expert becomes important. In addition to being able to guide you through all the legal and bureaucratic requirements for establishing a business in India, they can also provide market entry research and advice.
At QX Corporate Advisors we provide customised services for business entity setup, approvals, legislative registrations and all of your post registration compliances. If you’ve been thinking about entering the Indian market or have any questions about India market entry strategy email us on firstname.lastname@example.org or call us on 0845 838 2672.