Is Corporate India Ashamed Of Mumbai?

Mumbai the next Shanghai. Many have shrugged the idea as a pipe dream, never to happen. But, Mumbai as Mumbai itself is now compelling corporate India to hide their city in shame. A reason for few of them shifting home to Bandra West and office to Bandra Kurla Complex (BKC), away from even the better part of Mumbai - South Mumbai. While this is taken as a natural corollary of BKC becoming the next big financial hub, the underlying reasons seems to be far from that.

Recently at a party it was interesting to hear the conversation of a reputed foreign banker and second generation Mumbai-based industrialist seriously discussing why they prefer the suburbs over South Mumbai. For one, it is close to the airport and considering the extent of traveling a CEO does today, as well as the number of international visitors coming in, it is convenient to move closer to the airport.

But as their conversation on the subject became serious, it was shocking to hear the reason for this shift. The industrialist said that he hates to bring foreigners all the way from the airport to South Mumbai because he does not want them to see what Mumbai really is with all its bad roads, traffic, filth, dirt and slums. The entire trip from airport to South Mumbai gets these international visitors all depressed. These are investors coming to INVEST in India. They then begin to wonder about all the great growth figures we are talking of amidst slums and beggars, the sheer absence of infrastructure development and prosperity that should follow growth and more importantly they have been coming to this financial capital of India for so many years now and SEE ABSOLUTELY NO progress.

The banker nodded his head in total agreement. And what he said was even more shocking. He said, he plans international visitors itinerary in such a way that they spend only one day in Mumbai – that too between the airport and suburb hotel -- and the rest of the time the international visitors are taken to Hyderabad, Bangalore or more progressive cities as compared to Mumbai.

Looks like the Maharashtra government is not ashamed of Mumbai in its current deplorable and pathetic state. But, the businessmen and bankers who bring in investors certainly are; they are forced to hide their head in shame as marketing India and its commercial capital is becoming even more difficult for them.