Markets in Mumbai

Markets in Mumbai Mumbai has been a constantly evolving, globally engaged city over the past 150 years. In the last 25 years, it has made a rapid economic transition from trade to services, and has expanded its national and cross-border roles Mumbai is simultaneously a successful and under-performing city. Its dynamic economy and capacity for job creation co-exist with a social profile of extreme inequality, informality and disparity. The scale of these challenges is so great as to require urgent upgrades to institutions, planning and co-ordination across the metropolitan region. Mumbai has achieved a great deal within the existing economic, governance and infrastructure model, but its medium-term economic and quality of life ambitions require first a series of governance reforms, large scale investments, and tactical intervention. The term market is also termed as ‘BAZAAR’ in the context of mumbai. Where a market could be easily found under major public institution such as transit hub, famous streets, religious institution, and government planned locations. The street markets are broadly classified as informal markets where in the functioning happens with a mutual agreement with the authorities. The success of a informal market has a numerous factors ranging from the context to the commodity. The formal market which has various forms ranging from single commodity oriented like food, flowers, clothing market. The distribution of markets is more concentrated towards the southern part of the city. While it is sparse towards the north. The current trend of growth of population is towards north. The market in mumbai also many times refereed as government owned market i.e. BMC market where the street vendors also emerge and thus both of them shares a symbiotic relationship between two. The city also comprises of various malls located in the area away from the regions of less footfall in addition a number of malls are falling are been converted into office or commercial space. Thus there exits a range of typology of market in the city.