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13 terms

GCSE Mumbai Introduction

STUDY
PLAY
Economic opportunities
Chances for people to improve their standard of living through employment.
Formal economy
This refers to the type of employment where people work to receive a regular wage and are assured certain rights e.g. paid holidays, sickness leave. Wages are taxed.
Informal economy
This type of employment comprises work done without the official knowledge of the government and therefore without paying taxes. It is common in many LICs.
Social opportunities
Chances for people to improve their quality of life, for instance access to education and health care.
Squatter settlement
An area of poor-quality housing, lacking in amenities such as water supply, sewerage and electricity, which often develops spontaneously and illegally in a city in an LIC.
Maharashtra
State in the West of India where Mumbai is found
Bombay
The British colonial name for Mumbai
Major shipping route
passes through Mumbai, through the Mediterranean Sea via the Suez Canal, along with other shipping routes
Indian Ocean
Lies to the West of Mumbai
6%
of India's GDP
40 %
of India's foreign trade
25%
of industrial production
Bombay Stock Exchange and the Reserve Bank of India
headquarters of a number of Indian financial institutions in Mumbai