SMART JOURNAL OF BUSINESS MANAGEMENT STUDIES VOL. 5 NO. 2 PAPER 1
 
ASSESSING MUMBAI AS AN INTERNATIONAL FINANCIAL CENTER
 
Sankaran Venkateswar
Trinity University, USA
 
In early days for several centuries the world had a Global Currency viz., gold and silver. Pre-modern International Financial centers flourished across Europe, the Middle East, and Coastal Africa. The first round of Globalization took place in 1856, linking a 4000 mile telegraph system linking Calcutta, Agra, Mumbai, Peshawar and Chennai. The International Financial Centers (IFC) were classified into Global, Regional and International. This paper made a detailed comparison of Mumbai against all the existing IFC’s and emergent IFC’s to predict whether Mumbai can emerge as an International Financial Centre. The study finally found that Mumbai has a long way to go before it can emerge as an International Financial Center.
 
KEYWORDS: Global Currency, International Financial Centre, Globalization JEL CLASSIFICATIONS: B26, D53, E44, F36 FULL TEXT