Mumbai 3rd largest economy by 2020: Mah Guv

Mumbai, Sep 10: Mumbai is foremost among India's cities in terms of its financial structures, the quality, diversity and qualifications of its professionals, its port, transport and communication links and will become third largest economy of the world by 2020, said Maharashtra Governor S C Jamir.

He made this observation while addressing the second annual India's Capital Market Conference, organised by Thomson-Reuters International Financing Review (IFR) at the Taj President Hotel here yesterday, an official release said here today.

The Governor said the increasing graph of financial institutions like Kotak Mahindra Capital, ICICI, Securities, the Export-Import Bank of India, National Housing Bank is important in capital value of Mumbai.

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are the third and fifth biggest exchanges respectively in the world, enabling the rapid acceleration of global capital flows shaped by global investors in India, he added in the release.

UNI