Final answer:
Mumbai is called a global financial hub due to its large population, its role in India's maritime commerce and as the center of Bollywood, the largest movie production center in the world. Mumbai faces typical challenges of megacities, including infrastructure issues.
Step-by-step explanation:
The city of Mumbai, India, is often called a global financial hub due to its large population of fourteen million people and its significant role in India's maritime commerce. Mumbai serves as the economic center of India, housing the country's main financial markets and attracting high-tech firms and manufacturing. With its bustling port and connection to international trade networks, Mumbai plays a vital role in India's global trade and economic activity.
Furthermore, Mumbai is renowned for its influential movie industry, known as Bollywood, which produces close to two thousand movies annually and has a massive global following. Indian movies, primarily produced in Mumbai, are popular not only in India but also in Southeast Asia, the Middle East, Africa, and beyond. This cultural influence further solidifies Mumbai's status as a significant city on the global stage.
In terms of urban challenges, Mumbai faces issues like a large wealth gap, with slums coexisting alongside immense economic activity. The city's rapid urbanization poses infrastructure, public service, and law enforcement challenges, typical of megacities with millions of inhabitants.