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143-518: Bharti Enterprises is an Indian multinational conglomerate , headquartered in Delhi . It was founded in 1976 by Sunil Bharti Mittal . Bharti Enterprises owns businesses spanning across telecommunications , manufacturing , insurance , real estate , hospitality , and food . The group's flagship company, Bharti Airtel , is a telecom service provider with operations in more than 18 countries across Asia , Africa and Europe . The company ranks amongst

286-591: A 7-inch Android tablet priced at ₹ 9,999 (equivalent to ₹ 21,000 or US$ 250 in 2023) in India on 18 August 2011. The offering was intended to capitalise on the expected demand for cheap computing devices in the world's fastest-growing and second-largest mobile phone market. Bharti Realty is the in-house real estate arm for Bharti Group and facilitates by extending support to the Group Companies for identifying, developing and maintaining real estate. It

429-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

572-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

715-532: A deficient knowledge of the Portuguese language of these authors, mixing up the Portuguese word "bom" with the English "bay", from the English version of the name. In 1516, Portuguese explorer Duarte Barbosa used the name Tana-Maiambu : Tana appears to refer to the adjoining town of Thane and Maiambu to Mumbadevi . The form Bombaim is still commonly used in Portuguese. Other variations recorded in

858-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1001-491: A memorial to the martyrs of the Samyukta Maharashtra movement, Flora Fountain was renamed as Hutatma Chowk (Martyr's Square) and a memorial was erected. The following decades saw massive expansion of the city and its suburbs. In the late 1960s, Nariman Point and Cuffe Parade were reclaimed and developed. The Mumbai Metropolitan Region Development Authority (BMRDA) was established on 26 January 1975 by

1144-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1287-405: A nationwide presence through 135 branches across India. Bharti Enterprises sought to exit its insurance services business beginning negotiations with Reliance Industries to sell its stake in both Bharti AXA General Insurance and Bharti AXA Life Insurance in 2016. However, no agreement was reached. On 21 August 2020, Bharti AXA General Insurance and ICICI Lombard signed a definitive agreement for

1430-610: A niche for itself in the information technology industry. The Santacruz Electronic Export Processing Zone (SEEPZ) and the International Infotech Park ( Navi Mumbai ) offer excellent facilities to IT companies. State and central government employees make up a large percentage of the city's workforce. Mumbai also has a large unskilled and semi-skilled self-employed population, who primarily earn their livelihood as hawkers, taxi drivers, mechanics, and other such blue collar professions. The port and shipping industry

1573-584: A non-discriminatory basis. Bharti Infratel merged with Indus Towers on 19 November 2020, creating one of the largest mobile tower infrastructure operators in the world. Post-merger, Bharti Airtel holds a 36.73% stake in Indus Towers, with Vodafone Group holding 28.12%, and 3.1% shares held by Providence Equity . Indus Towers has over 192,874 towers and 342,831 co-locations and a nationwide presence covering all 22 telecom circles. Beetel Teletech Limited, formerly Brightstar Telecommunications India Limited,

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1716-508: A one-bedroom apartment in Mumbai proper is around ₹30,000, while according to ResearchGate, 25% of Mumbai households have a monthly income of less than ₹12,500. The overall average salary in Mumbai is ₹45,000. This means that the vast majority of conventional housing is out of bounds for many Mumbai residents, leading many to rely on informal housing. Greater Mumbai (or Brihanmumbai), an area of 603 km (233 sq mi), consisting of

1859-813: A single amalgamated mass by way of a causeway called the Hornby Vellard , which was completed by 1784. In 1817, the British East India Company under Mountstuart Elphinstone defeated Baji Rao II , the last of the Maratha Peshwa in the Battle of Khadki . Following his defeat, almost the whole of the Deccan Plateau came under British suzerainty, and was incorporated into the Bombay Presidency. The success of

2002-657: A temple". By the late 20th century, the city was referred to as Mumbai or Mambai in Marathi, Konkani , Gujarati , Kannada and Sindhi , and as Bambai in Hindi . The Government of India officially changed the English name to Mumbai in November 1995. This came at the insistence of the Marathi nationalist Shiv Sena party, which had just won the Maharashtra state elections, and mirrored similar name changes across

2145-502: A total wealth of around $ 960 billion, it is the richest Indian city and one of the richest cities in the world. As of 2008 , the Globalization and World Cities Study Group (GaWC) has ranked Mumbai as an "Alpha world city", third in its categories of Global cities . Mumbai is the third most expensive office market in the world, and was ranked among the fastest cities in the country for business startup in 2009. However, it

2288-793: A virtually rainless period extending from October to May and an extremely wet period peaking in July. A cooler season from December to February is followed by a hotter season from March to May. The period from June to about the end of September constitutes the south west monsoon season, and October and November form the post-monsoon season. Between June and September, the South-west monsoon rains occur in Mumbai. Pre-monsoon showers are received in May. Occasionally, north-east monsoon showers occur in October and November. The maximum annual rainfall ever recorded

2431-471: A world-class University to offer education to deserving youth from economically weaker sections of society. Hike Private Limited was founded by Kavin Bharti Mittal in 2012. The company launched Hike Messenger, a freeware , cross-platform instant messaging (IM), Voice over IP (VoIP) application, on 12 December 2012. Hike Messenger had more than 100 million registered users as of August 2016. It

2574-569: Is a holding company of Bharti Airtel with Bharti Enterprises and SingTel owning 50.56 percent and 49.44 percent, respectively, in BTL, which in turn owns 35.80 percent of Bharti Airtel. Bharti Airtel is the third largest mobile operator in the world, in subscriber base, and has a presence across 18 countries. The company is India's second largest integrated telecom company in customer base and offers mobile, fixed line, high speed home broadband, M-commerce, DTH and enterprise service. Indus Towers Limited

2717-503: Is a joint venture between Bharti Enterprises and French insurance company AXA established in 2006. Bharti Enterprises holds a 51% stake in the joint venture, with AXA holding the remaining 49%. The company has a nationwide presence through 251 branches across India. Bharti Enterprises sought to exit its insurance services business beginning negotiations with Reliance Industries to sell its stake in both Bharti AXA Life Insurance and Bharti AXA General Insurance in 2016. However, no agreement

2860-579: Is also commonly referred to as the Island City or South Mumbai . The total area of Mumbai is 603.4 square kilometres (233.0 sq mi). Of this, the island city spans 67.79 square kilometres (26.17 sq mi), while the suburban district spans 370 square kilometres (140 sq mi), together accounting for 437.71 square kilometres (169.00 sq mi) under the administration of Municipal Corporation of Greater Mumbai (MCGM). The remaining areas belong to various Defence establishments,

3003-440: Is an Indian Administrative Service (IAS) officer appointed by the state government . Although the municipal corporation is the legislative body that lays down policies for the governance of the city, it is the commissioner who is responsible for the execution of the policies. The commissioner is appointed for a fixed term as defined by state statute. The powers of the commissioner are those provided by statute and those delegated by

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3146-457: Is an telecommunications infrastructure company offering passive infrastructure services to mobile network operators and other wireless services providers. Headquartered in Gurugram , Haryana , Indus Towers was incorporated in November 2007 by Bharti Infratel (a subsidiary of Bharti Airtel), Vodafone Essar , and Idea Cellular , to provide shared telecom infrastructure to telecom operators on

3289-461: Is important to acknowledge that Mumbai faces important challenges regarding income inequality. Despite having the largest concentration of billionaires out of any city in Asia, Mumbai is one of the most unequal cities in the world. Like other Indian metropolitan cities, Mumbai is in desperate need of affordable housing infrastructure for its lower and lower-middle class citizens. The median rental cost of

3432-406: Is in charge of the civic and infrastructure needs of the metropolis. The mayor, who serves for a term of 2 + 1 ⁄ 2 years, is chosen through an indirect election by the councillors from among themselves. The municipal commissioner is the chief executive officer and head of the executive arm of the municipal corporation. All executive powers are vested in the municipal commissioner who

3575-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

3718-542: Is on a narrow peninsula on the southwest of Salsette Island , which lies between the Arabian Sea to the west, Thane Creek to the east and Vasai Creek to the north. Mumbai's suburban district occupies most of the island. Navi Mumbai is east of Thane Creek and Thane is north of Vasai Creek . Mumbai consists of two distinct regions: Mumbai City district and Mumbai Suburban district , which form two separate revenue districts of Maharashtra. The city district region

3861-653: Is the financial , commercial, and entertainment capital of South Asia . Mumbai is often compared to New York , and the city is home to the Bombay Stock Exchange , situated on Dalal Street . It is also one of the world's top ten centres of commerce in terms of global financial flow, generating 6.16% of India's GDP, and accounting for 25% of the nation's industrial output, 70% of maritime trade in India ( Mumbai Port Trust , Dharamtar Port and JNPT ), and 70% of capital transactions to India's economy . The city houses important financial institutions and

4004-419: Is the commercial capital of India and has evolved into a global financial hub. For several decades it has been the home of India's main financial services companies, and a focus for both infrastructure development and private investment. From being an ancient fishing community and a colonial centre of trade, Mumbai has become South Asia's largest city and home of the world's most prolific film industry. Mumbai

4147-461: Is the philanthropic arm of Bharti Enterprises. The Foundation has established schools in villages across India and offers free quality education with free books, uniform and mid day meals to poor children. Satya Bharti School Program' – the Foundation's flagship program is running 254 schools in six States serving over 45,000 rural children, free of cost. The other educational initiatives including

4290-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

4433-403: Is well established, with Mumbai Port being one of the oldest and most significant ports in India. Dharavi , in central Mumbai, has an increasingly large recycling industry, processing recyclable waste from other parts of the city; the district has an estimated 15,000 single-room factories. As of 2024, Mumbai is home to the third-highest number of billionaires of any city in the world. With

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4576-533: The Lok Sabha discussions in 1955, the Congress party demanded that the city be constituted as an autonomous city-state. The States Reorganisation Committee recommended a bilingual state for Maharashtra– Gujarat with Mumbai as its capital in its 1955 report. Bombay Citizens' Committee , an advocacy group of leading Gujarati industrialists lobbied for Mumbai's independent status. Following protests during

4719-612: The New York of India , is India's most populous city and is the financial and commercial capital of the country as it generates 6.16% of the total GDP. It serves as an economic hub of India; as of 2006, Mumbai contributed 10% of the nation's factory employment, 25% of industrial output, 33% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of foreign trade , and ₹ 40 billion (equivalent to ₹ 130 billion or US$ 1.5 billion in 2023) in corporate taxes . Along with

4862-547: The Arabian Sea . Mumbai in the 19th century was characterised by economic and educational development. During the early 20th century it became a strong base for the Indian independence movement . Upon India's independence in 1947 the city was incorporated into Bombay State . In 1960, following the Samyukta Maharashtra Movement , a new state of Maharashtra was created with Mumbai as the capital. Mumbai

5005-848: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

5148-680: The English East India Company in 1668 for a sum of £ 10 per annum. The population quickly rose from 10,000 in 1661, to 60,000 in 1675. The islands were subsequently attacked by Yakut Khan , the Muslim Koli admiral of the Mughal Empire , in October 1672, Rickloffe van Goen , the Governor-General of Dutch India on 20 February 1673, and Siddi admiral Sambal on 10 October 1673. In 1687,

5291-662: The First Anglo-Maratha War . The British were able to secure Salsette from the Marathas without violence through the Treaty of Purandar (1776) , and later through the Treaty of Salbai (1782), signed to settle the outcome of the First Anglo-Maratha War. From 1782 onwards, the city was reshaped with large-scale civil engineering projects aimed at merging all the seven islands of Bombay into

5434-655: The Fortune Global 500 companies are based in Mumbai. This is facilitated by the presence of the Reserve Bank of India (RBI), the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE), and financial sector regulators such as the Securities and Exchange Board of India (SEBI). Until the 1970s, Mumbai owed its prosperity largely to textile mills and the seaport , but

5577-941: The Government of India and the Consulate General of the United States, Mumbai monitor and publicly share real-time air quality data. In December 2019, IIT Bombay , in partnership with the McKelvey School of Engineering of Washington University in St. Louis launched the Aerosol and Air Quality Research Facility to study air pollution in Mumbai, among other Indian cities. Mumbai has been ranked 24th best “National Clean Air City” (under Category 1 >10L Population cities) in India according to 'Swachh Vayu Survekshan 2024 Results' Mumbai, sometimes described as

5720-575: The Government of Maharashtra as an apex body for planning and co-ordination of development activities in the Mumbai metropolitan region . In August 1979, a sister township of New Mumbai was founded by the City and Industrial Development Corporation (CIDCO) across the Thane and Raigad districts to help the dispersal and control of Mumbai's population. The textile industry in Mumbai largely disappeared after

5863-518: The Marathas under Peshwa Baji Rao I captured Salsette in 1737, and Bassein in 1739. By the middle of the 18th century, Mumbai began to grow into a major trading town, and received a huge influx of migrants from across India. Later, the British occupied Salsette on 28 December 1774. With the Treaty of Surat (1775), the British formally gained control of Salsette and Bassein, resulting in

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6006-489: The Mithi River originates from Tulsi Lake and gathers water overflowing from Vihar and Powai Lakes. The coastline of the city is indented with numerous creeks and bays, stretching from the Thane creek on the eastern to Madh Marve on the western front. The eastern coast of Salsette Island is covered with large mangrove swamps , rich in biodiversity, while the western coast is mostly sandy and rocky. Soil cover in

6149-727: The Mumbai City and Mumbai Suburban districts, extends from Colaba in the south, to Mulund and Dahisar in the north, and Mankhurd in the east. Its population as per the 2011 census was 12,442,373. It is administered by the Brihanmumbai Municipal Corporation (BMC) (sometimes referred to as the Municipal Corporation of Greater Mumbai ), formerly known as the Bombay Municipal Corporation (BMC). The BMC

6292-744: The Mumbai Port Trust , the Atomic Energy Commission and the Borivali National Park, which are out of the jurisdiction of the MCGM. The Mumbai Metropolitan Region which includes portions of Thane , Palghar and Raigad districts in addition to Greater Mumbai, covers an area of 4,355 square kilometres (1,681 sq mi). Mumbai lies at the mouth of the Ulhas River on the western coast of India, in

6435-641: The Shilaharas from 810 to 1260. Some of the oldest edifices in the city built during this period are the Jogeshwari Caves (between 520 and 525), Elephanta Caves (between the sixth to seventh century), Walkeshwar Temple (10th century), and Banganga Tank (12th century). King Bhimdev founded his kingdom in the region in the late 13th century and established his capital in Mahikawati (present day Mahim ). The Pathare Prabhus , among

6578-596: The demolition of the Babri Masjid in Ayodhya , the city was rocked by the Hindu-Muslim riots of 1992–93 in which more than 1,000 people were killed. In March 1993, a series of 13 coordinated bombings at several city landmarks by Islamic extremists and the Mumbai underworld resulted in 257 deaths and over 700 injuries. In 2006, 209 people were killed and over 700 injured when seven bombs exploded on

6721-399: The dowry of Catherine Braganza when she was married off to Charles II of England . Beginning in 1782, Mumbai was reshaped by the Hornby Vellard project, which undertook reclamation of the area between the seven islands from the Arabian Sea . Along with the construction of major roads and railways , the reclamation project, completed in 1845, transformed Mumbai into a major seaport on

6864-587: The highest number of billionaires out of any city in Asia . The seven islands that constitute Mumbai were earlier home to communities of Marathi language -speaking Koli people . For centuries, the seven islands of Bombay were under the control of successive indigenous rulers before being ceded to the Portuguese Empire , and subsequently to the East India Company in 1661, through

7007-575: The most populous city proper of India with an estimated population of 12.5 million (1.25  crore ). Mumbai is the centre of the Mumbai Metropolitan Region , the sixth-most populous metropolitan area in the world with a population of over 23 million (2.3 crore). Mumbai lies on the Konkan coast on the west coast of India and has a deep natural harbour . In 2008, Mumbai was named an alpha world city . Mumbai has

7150-493: The 16th and the 17th centuries include: Mombayn (1525), Bombay (1538), Bombain (1552), Bombaym (1552), Monbaym (1554), Mombaim (1563), Mombaym (1644), Bambaye (1666), Bombaiim (1666), Bombeye (1676), Boon Bay (1690) and Bon Bahia . After the English gained possession of the city in the 17th century, the Portuguese name was anglicised as Bombay . Ali Muhammad Khan, imperial dewan or revenue minister of

7293-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

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7436-524: The Bahmani Sultanate attempted to conquer the islands but was defeated. The Mughal Empire , founded in 1526, was the dominant power in the Indian subcontinent during the mid-16th century. Growing apprehensive of the power of the Mughal emperor Humayun , Sultan Bahadur Shah of Gujarat was obliged to sign the Treaty of Bassein with the Portuguese Empire on 23 December 1534. According to

7579-599: The British campaign in the Deccan marked the end of all attacks by native powers. By 1845, the seven islands coalesced into a single landmass by the Hornby Vellard project via large scale land reclamation . On 16 April 1853, India's first passenger railway line was established, connecting Mumbai to the neighbouring town of Thana (now Thane). During the American Civil War (1861–1865), the city became

7722-553: The English East India Company transferred its headquarters from Surat to Mumbai. The city eventually became the headquarters of the Bombay Presidency . Following the transfer, Mumbai was placed at the head of all the company's establishments in India. Towards the end of the 17th century, the islands again suffered incursions from Yakut Khan in 1689–90. The Portuguese presence ended in Mumbai when

7865-496: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

8008-689: The Gujarat province, in the Mirat-i Ahmedi (1762) referred to the city as Manbai . The French traveller Louis Rousselet , who visited in 1863 and 1868, states in his book L'Inde des Rajahs , which was first published in 1877: "Etymologists have wrongly derived this name from the Portuguese Bôa Bahia, or (French: "bonne bai", English: "good bay"), not knowing that the tutelar goddess of this island has been, from remote antiquity, Bomba, or Mumba Devi , and that she still ... possesses

8151-404: The Indian union were integrated into the state. Subsequently, the city became the capital of Bombay State. In April 1950, Municipal limits of Mumbai were expanded by merging the Mumbai Suburban District and Mumbai City to form the Greater Mumbai Municipal Corporation. The Samyukta Maharashtra movement to create a separate Maharashtra state including Mumbai was at its height in the 1950s. In

8294-431: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

8437-435: The Island City, the average maximum temperature is 31 °C (88 °F), while the average minimum temperature is 24 °C (75 °F). In the suburbs, the daily mean maximum temperature range from 29 °C (84 °F) to 33 °C (91 °F), while the daily mean minimum temperature ranges from 16 °C (61 °F) to 26 °C (79 °F). The record high is 42.2 °C (108 °F) set on 14 April 1952, and

8580-451: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

8723-434: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

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8866-413: The Portuguese vying for hegemony over Mumbai, as they recognised its strategic natural harbour and its natural isolation from land attacks. By the middle of the 17th century the growing power of the Dutch Empire forced the English to acquire a station in western India. On 11 May 1661, the marriage treaty of Charles II of England and Catherine of Braganza , daughter of King John IV of Portugal , placed

9009-404: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

9152-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

9295-450: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

9438-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

9581-558: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

9724-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

9867-407: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

10010-475: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

10153-401: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

10296-443: The acquisition in November 2020, and final approval on 3 September 2021. Bharti Infratel Limited was a telecommunications infrastructure company that provided telecom infrastructure such as telecom towers, fiber networks and other related infrastructure. Headquartered in Gurugram , Haryana , the company was established by Bharti Airtel in July 2007 by spinning-off its mobile towers to a new wholly-owned subsidiary. Bharti Infratel

10439-813: The beginning of the Common Era , or possibly earlier, they came to be occupied by the Koli fishing community. In the 3rd century BCE, the islands formed part of the Maurya Empire , during its expansion in the south, ruled by the Buddhist emperor Ashoka of Magadha . The Kanheri Caves in Borivali were excavated from basalt rock in the first century CE, and served as an important centre of Buddhism in Western India during ancient Times. The city then

10582-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

10725-667: The brand name Easyday. The stores were wholly-owned by Bharti Retail, while Bharti Wal-Mart provided the back-end, wholesaling and logistical support for the Easyday stores. In May 2015, Future Group acquired Bharti Retail in a deal worth around ₹ 500 crore (equivalent to ₹ 755 crore or US$ 90 million in 2023). Following the acquisition, Bharti Enterprises received 9% stakes in Future Retail Limited (manages retail operations) and Future Enterprises Limited (manages infrastructure, investments and assets). At

10868-457: The city by a name other than Mumbai has been controversial. A resident of Mumbai is called Mumbaikar ( pronounced [ˈmumbəikəɾ] ) in Marathi , in which the suffix -kar means a 'resident of'. The term had been in use for quite some time but it gained popularity after the official name change to Mumbai. Older terms such as Bombayite are also used. Mumbai is built on what

11011-401: The city region is predominantly sandy due to its proximity to the sea. In the suburbs, the soil cover is largely alluvial and loamy. The underlying rock of the region is composed of black Deccan basalt flows, and their acidic and basic variants dating back to the late Cretaceous and early Eocene eras. Mumbai sits on a seismically active zone owing to the presence of 23 fault lines in

11154-509: The city's commuter trains . In 2008, a series of ten coordinated attacks by armed terrorists for three days resulted in 173 deaths, 308 injuries, and severe damage to several heritage landmarks and prestigious hotels. The three coordinated bomb explosions in July 2011 that occurred at the Opera house , Zaveri Bazaar and Dadar were the latest in the series of terrorist attacks in Mumbai which resulted in 26 deaths and 130 injuries. Mumbai

11297-594: The city, prominent being the St. Michael's Church at Mahim (1534), St. John the Baptist Church at Andheri (1579), St. Andrew's Church at Bandra (1580), and Gloria Church at Byculla (1632). The Portuguese also built several fortifications around the city like the Bombay Castle , Castella de Aguada (Castelo da Aguada or Bandra Fort), and Madh Fort . The English were in constant struggle with

11440-550: The city: Vihar , Lower Vaitarna , Upper Vaitarna , Tulsi , Tansa and Powai . Tulsi Lake and Vihar Lake are located in Borivili National Park , within the city's limits. The supply from Powai lake, also within the city limits, is used only for agricultural and industrial purposes. Three small rivers, the Dahisar River , Poinsar (or Poisar) and Ohiwara (or Oshiwara) originate within the park, while

11583-413: The coastal region known as the Konkan . It sits on Salsette Island (Sashti Island), which it partially shares with the Thane district . Mumbai is bounded by the Arabian Sea to the west. Many parts of the city lie just above sea level, with elevations ranging from 10 to 15 metres (33 to 49 ft); the city has an average elevation of 14 metres (46 ft). Northern Mumbai (Salsette) is hilly, and

11726-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

11869-717: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

12012-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

12155-441: The corporate headquarters of numerous Indian companies and multinational corporations . The city is also home to some of India's premier scientific and nuclear institutes and the Hindi and Marathi film industries. Mumbai's business opportunities attract migrants from all over India. The name Mumbai ( Marathi : मुंबई ) originated from Mumbā or Mahā-Ambā —the name of the patron Hindu goddess ( kuladevata ) Mumbadevi of

12298-458: The country and particularly in Maharashtra. According to Slate magazine, "they argued that 'Bombay' was a corrupted English version of 'Mumbai' and an unwanted legacy of British colonial rule." Slate also said "The push to rename Bombay was part of a larger movement to strengthen Marathi identity in the Maharashtra region." While Mumbai is still referred to as Bombay by some of its residents and by some Indians from other regions, mention of

12441-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

12584-568: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Mumbai Mumbai ( / m ʊ m ˈ b aɪ / muum- BY ; ISO : Muṁbaī , Marathi: [ˈmumbəi] ), formerly known as Bombay ( / b ɒ m ˈ b eɪ / bom- BAY ), is the capital city of the Indian state of Maharashtra . Mumbai is the financial capital and

12727-549: The earliest known settlers of the city, were brought to Mahikawati from Saurashtra in Gujarat around 1298 by Bhimdev. The Delhi Sultanate annexed the islands in 1347–48 and controlled it until 1407. During this time, the islands were administered by the Muslim Governors of Gujarat , who were appointed by the Delhi Sultanate. The islands were later governed by the independent Gujarat Sultanate , which

12870-518: The evacuation of the residents of those areas to temporary safe camps. Air pollution is a major issue in Mumbai. According to the 2016 World Health Organization Global Urban Ambient Air Pollution Database, the annual average PM2.5 concentration in 2013 was 63 μg/m , which is 6.3 times higher than that recommended by the WHO Air Quality Guidelines for the annual mean PM2.5. The Central Pollution Control Board for

13013-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

13156-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

13299-572: The highest point in the city is 450 metres (1,480 ft) at Salsette in the Powai – Kanheri ranges. The Sanjay Gandhi National Park (Borivali National Park) is located partly in the Mumbai suburban district , and partly in the Thane district, and it extends over an area of 103.09 square kilometres (39.80 sq mi). Apart from the Bhatsa Dam , there are six major lakes that supply water to

13442-521: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

13585-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

13728-533: The islands in possession of the English Empire , as part of Catherine's dowry to Charles. However, Salsette , Bassein , Mazagaon , Parel , Worli , Sion , Dharavi , and Wadala still remained under Portuguese possession. From 1665 to 1666, the English managed to acquire Mahim, Sion, Dharavi, and Wadala. In accordance with the Royal Charter of 27 March 1668 , England leased these islands to

13871-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

14014-555: The latter to acquire the former in an all stock deal. Per the terms of the agreement, shareholders of Bharti AXA General Insurance received 2 shares of ICICI Lombard for every 115 shares they held. The acquisition was completed on 8 September 2020. Bharti Enterprises received 18.23 million shares in ICICI Lombard and AXA received 17.52 million shares, worth a combined total of EUR 664 million. The Insurance Regulatory and Development Authority of India granted in-principle approval to

14157-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

14300-519: The local economy has since then diversified to include finance , engineering , diamond-polishing, healthcare , and information technology. The key sectors contributing to the city's economy are: finance, gems & jewellery, leather processing, IT and ITES , textiles, petrochemical, electronics manufacturing, automobiles, and entertainment. Nariman Point and Bandra Kurla Complex (BKC) are Mumbai's major financial centres. Despite competition from Bangalore , Hyderabad and Pune , Mumbai has carved

14443-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

14586-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

14729-487: The movement in which 105 people died in clashes with the police, Bombay State was reorganised on linguistic lines on 1 May 1960. Gujarati -speaking areas of Bombay State were partitioned into the state of Gujarat. Maharashtra State with Mumbai as its capital was formed with the merger of Marathi -speaking areas of Bombay State , eight districts from Central Provinces and Berar , five districts from Hyderabad State , and numerous princely states enclosed between them. As

14872-465: The name FieldFresh Foods in 2010. The company sold processed food and beverage products in India and South Asia under the Del Monte brand. Bharti AXA General Insurance Company Limited was a joint venture between Bharti Enterprises and French insurance company AXA incorporated on 13 July 2007. Bharti Enterprises held a 51% stake in the joint venture, with AXA holding the remaining 49%. The company had

15015-452: The native Koli community —and from ā'ī , meaning "mother" in the Marathi language , which is the mother tongue of the Koli people and the official language of Maharashtra. According to certain accounts, the Koli community, which hails from Kathiawar and Central Gujarat , is believed to have introduced their deity Mumba from Kathiawar ( Gujarat ), where her worship continues to this day. However, other sources disagree that Mumbai's name

15158-434: The partnership in October 2013, with Walmart acquiring Bharti's stake in the joint venture. At the time the partnership was called off, Bharti Wal-Mart operated 19 Best Price Modern Wholesale stores. Bharti Retail Limited was established as a wholly-owned subsidiary of Bharti Enterprises at the time it began its joint venture with Walmart. Bharti Retail operated a chain of convenience stores, supermarkets and hypermarkets under

15301-723: The past few decades, the frequency of floods in Mumbai is enormous, the 2005 Mumbai floods are characterised by 500-1000 deaths, household displacements, damaged infrastructure-(including heritage sites), and a financial loss of US$ 1.2 billion. In the process of reducing floods in Mumbai, the Maharashtra government adopted a flood mitigation plan; according to which the drainage system will be restructured, restoration of Mithi River , and re-establishment of informal settlements. Local civic body Brihanmumbai Municipal Corporation (BMC) authorities are assigned to forecast and issue eviction notices while BMC along with NGO's prepare for

15444-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

15587-543: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

15730-526: The record low is 7.4 °C (45 °F) set on 27 January 1962. Tropical cyclones are rare in the city. The worst cyclone to ever impact Mumbai was the one in 1948 where gusts reached 151 km/h (94 mph) in Juhu. The storm left 38 people dead and 47 missing. The storm reportedly impacted Mumbai for 20 hours and left the city devastated. Mumbai is prone to monsoon floods, exacerbated by climate change which affects heavy rains and high tide in

15873-667: The rest of India, Mumbai has witnessed an economic boom since the liberalisation of 1991 , the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in the 2000s. Estimates of the 2016 economy of the Mumbai Metropolitan Region have ranged from $ 368 billion to $ 400 billion ( PPP metro GDP ) ranking it either the most or second-most productive metro area of India. Many of India's numerous conglomerates (including Larsen & Toubro , State Bank of India (SBI), Life Insurance Corporation of India (LIC), Tata Group , Godrej and Reliance ), and five of

16016-496: The sea. According to the World Bank , unplanned drainage system and informal settlement is a key factor of frequent floods in Mumbai. Among other causes of flooding in Mumbai is its geographic location , Mumbai urban is peninsular in form, (a land-filled area that connects seven islands) a low laying area, compared to its suburbs that sit on an elevated location. Over the past few decades, new informal settlements were formed in

16159-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

16302-576: The suburbs, causing a rapid increase in population, improper waste management, and drainage congestion. The rainwater from these areas heavily flows towards low-lying urban areas consisting of some slums and high-rise buildings. As a result, slums are either swamped , washed away, or collapse causing heavy casualties, and post-flood water logging lasts for a long time that causing blockage of railway lines-(most frequently used public transport in Mumbai), traffic snarl, inundated roads, and sub-merged bylanes. Over

16445-590: The textile industry was adversely affected. While the city was the capital of the Bombay Presidency , the Indian independence movement fostered the Quit India Movement in 1942 and the Royal Indian Navy mutiny in 1946. After India's independence in 1947, the territory of the Bombay Presidency retained by India was restructured into Bombay State . The area of Bombay State increased, after several erstwhile princely states that joined

16588-473: The time of the acquisition, Bharti Retail operated 216 Easyday stores. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

16731-433: The top two mobile network operators globally by number of subscribers. The company was founded by Sunil Bharti Mittal with his two siblings in 1976. The company initially started manufacturing bicycles before diversifying into other sectors. It entered into telecommunications industry in 1995. Bharti is present in many sectors with the largest revenue contribution coming from the telecom industry. Bharti Telecom (BTL),

16874-666: The treaty, the Seven Islands of Bombay, the nearby strategic town of Bassein and its dependencies were offered to the Portuguese. The territories were later surrendered on 25 October 1535. The Portuguese were actively involved in the foundation and growth of their Roman Catholic religious orders in Bombay. They called the islands by various names, which finally took the written form Bombaim . The islands were leased to several Portuguese officers during their regime. The Portuguese Franciscans and Jesuits built several churches in

17017-513: The vicinity. The area is classified as a Seismic Zone III region , which means an earthquake of up to magnitude 6.5 on the Richter magnitude scale may be expected. Mumbai has an extreme tropical wet and dry climate ( Aw ) under the Köppen climate classification , although the central and northern suburbs have a tropical monsoon climate ( Am ) with even heavier wet season rainfall. Mumbai has

17160-528: The widespread 1982 Great Bombay Textile Strike , in which nearly 250,000 workers in more than 50 textile mills went on strike. Mumbai's defunct cotton mills have since become the focus of intense redevelopment . Industrial development began in Mumbai when its economy started focusing on the petrochemical, electronic, and automotive sectors. In 1954 Hindustan Petroleum commissioned Mumbai Refinery at Trombay and BPCL Refinery . The Jawaharlal Nehru Port , which handles 55–60% of India's containerised cargo,

17303-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

17446-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

17589-462: The world's chief cotton-trading market, resulting in a boom in the economy that subsequently enhanced the city's stature. The opening of the Suez Canal in 1869 transformed Mumbai into one of the largest seaports on the Arabian Sea . In September 1896, Mumbai was hit by a bubonic plague epidemic where the death toll was estimated at 1,900 people per week. About 850,000 people fled Mumbai and

17732-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

17875-484: The – Satya Bharti School, Quality Support and Learning Centre Programs, are currently reaching out to over 350,000 underprivileged children in 16 states. Other Program of the Foundation making considerable impact among the underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation). In 2017, the Bharti Family pledged 10% of wealth (approx. Rs 70 billion) towards Philanthropy to set up Satya Bharti University,

18018-472: Was 3,452 mm (136 in) for 1954. The highest rainfall recorded in a single day was 944 mm (37 in) on 26 July 2005 . The average total annual rainfall is 2,213.4 mm (87 in) for the Island City, and 2,502.3 mm (99 in) for the suburbs. The average annual temperature is 27 °C (81 °F), and the average annual precipitation is 2,213 mm (87 in). In

18161-636: Was a 50:50 joint venture between Bharti Retail (a subsidiary of Bharti Enterprises) and Walmart that operated a chain of wholesale cash-and-carry retail stores in India. The two companies announced that they had signed an agreement to establish the company on 5 August 2007. In February 2009, Bharti Wal-Mart announced that the stores would be branded Best Price Modern Wholesale and that the first store would open in Punjab. The first Best Price Modern Wholesale opened in Amritsar in May 2009. Bharti and Walmart ended

18304-699: Was acquired by education technology firm upGrad in a share swap deal in September 2022. Norlake Hospitality Limited is a real estate and hospitality property developer in Europe and the United States, in partnership with London-based hospitality company Ennismore. Headquartered in London, it was founded on 18 May 2012. Bharti Enterprises acquired a 25% stake in Emtel which is a Mauritius-based telecommunications company, on 27 April 2015 through its subsidiary, Indian Continent Investment Limited (ICIL). Bharti Foundation

18447-621: Was commissioned on 26 May 1989 across the creek at Nhava Sheva with a view to de-congest Mumbai Harbour and to serve as a hub port for the city. The geographical limits of Greater Mumbai were coextensive with municipal limits of Greater Mumbai. On 1 October 1990, the Greater Mumbai district was bifurcated to form two revenue districts namely, Mumbai City and Mumbai Suburban , though they continued to be administered by same Municipal Administration. The years from 1990 to 2010 saw an increase in violence and terrorism activities. Following

18590-544: Was derived from the goddess Mumba. The oldest known names for the city are Kakamuchee and Galajunkja ; these are sometimes still used. Portuguese writer Gaspar Correia recorded the name "Bombaim" after 1512 in his Lendas da Índia ( Legends of India ). While some Anglophone authors have suggested this name possibly originated as an alleged Galician-Portuguese phrase bom baim , meaning "good little bay", such suggestions lack any scientific basis. Portuguese linguist José Pedro Machado attributes that interpretation to

18733-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

18876-725: Was established in 1407. As a result of the Sultanate's support, numerous mosques were built, with one notable example being the Haji Ali Dargah in Worli . Erected in 1431, this magnificent structure pays homage to the revered Muslim saint, Haji Ali. From 1429 to 1431, the islands were a source of contention between the Gujarat Sultanate and the Bahmani Sultanate of Deccan. In 1493, Bahadur Khan Gilani of

19019-806: Was established on 8 December 2003. Gourmet Investments Pvt Ltd was founded in 2012 by Ramit Mittal, the eldest son of Bharti Enterprises' vice chairman and managing director Rakesh Mittal, with support from the Bharti family office. The company signed a 50:50 joint venture partnership agreement with British restaurant chain PizzaExpress in 2012, and opened the first outlet in Mumbai later that year. in 2018, Gourmet Investments partnered with Sri Lankan restaurant chain Ministry of Crab, owned by cricketers Kumara Sangakara , Mahela Jayawardene and chef Dharshan Munidasa , to launch outlets in India. The first outlet

19162-482: Was founded in 1985. The company manufactures and distributes mobile accessories, IT peripherals, network and enterprise solutions, and landline phones. Its manufacturing unit is located in Ludhiana , Punjab . It is also a major distributor of IT and telecom products from international brands such as Avaya , Poly , Samsung , Panasonic , Huawei , QSC , Radwin , Ruckus , RAD and Actelis. Beetel Teletech launched

19305-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

19448-595: Was known as Heptanesia ( Ancient Greek : A Cluster of Seven Islands) to the Greek geographer Ptolemy in 150 CE. The Mahakali Caves in Andheri were cut out between the 1st century BCE and the 6th century CE. Between the 2nd century BCE and 9th century CE, the islands came under the control of successive indigenous dynasties : Satavahanas , Western Satraps , Abhira , Vakataka , Kalachuris , Konkan Mauryas , Chalukyas and Rashtrakutas , before being ruled by

19591-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

19734-485: Was once an archipelago of seven islands : Isle of Bombay , Parel , Mazagaon , Mahim , Colaba , Worli , and Old Woman's Island (also known as Little Colaba ). It is not exactly known when these islands were first inhabited. Pleistocene sediments found along the coastal areas around Kandivali in northern Mumbai suggest that the islands were inhabited since the South Asian Stone Age . Perhaps at

19877-596: Was opened at Khar , Mumbai in February 2019. In 2019, the company acquired some Indian outlets of the American restaurant chain Chili's . Gourmet Investments operates 16 outlets of PizzaExpress, Chili's and Ministry of Crab as of February 2023. In February 2023, Gourmet Investments reportedly signed an agreement with American restaurant chain P. F. Chang's to open outlets in India. Bharti AXA Life Insurance Company Limited

20020-797: Was reached. A consortium of the Hinduja Group and the Abu Dhabi Investment Authority reportedly entered negotiations to acquire Bharti AXA Life Insurance in December 2021. A 50% stake in OneWeb was acquired in July 2020, being a joint venture with the UK Government for broadband satellite Internet services . Centum Learning Limited, formerly Bharti Learning Systems Limited, was a wholly owned subsidiary of Bharti Enterprises established in 2007. Centum Learning

20163-506: Was rebranded as Hike Sticker Chat in April 2019. The app was shut down in January 2021. The company stated that it would pivot to building a new bite-sized gaming service named Rush. Del Monte Foods Private Limited, formerly FieldFresh Foods, was a 50:50 joint venture between Bharti Enterprises and Del Monte Pacific Limited (a subsidiary of Del Monte Foods ). The company was established under

20306-424: Was the first Indian company to start a tower infrastructure sharing business. It was India's largest consolidated tower infrastructure company, directly owning 95,372 towers as on 31 March 2020. Bharti Infratel was merged with Indus Towers on 19 November 2020. Prior to the merger, Bharti Infratel held a 42% stake in Indus Towers. Bharti Airtel now holds a 36.73% stake in Indus Towers. Bharti Wal-Mart Private Limited

20449-564: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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