The rising domestic demand for financial services can place Mumbai in the same league as New York, London and Singapore. The city has the attitude, and can acquire the skills. It is the policy-makers who need to come good, reports CNBC-TV18.
On Budget day 2005, Finance Minister P Chidambaram dared to dream big for Mumbai. Chidambaram said, I propose to appoint a high powered Committee to make Mumbai a regional financial centre.
But the 15 leading lights of Indias financial services industry that constituted the expert committee have dreamed bigger. They want Mumbai to be an international financial centre and have produced a report that is a 13-year, two-stage roadmap to achieve that status. The advice addresses two themes -infrastructure and financial policy - to make Mumbai a vibrant city and lift Indias financial system to best in class levels.
More : moneycontrol.com
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