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Along with construction of major roads and railways, the reclamation project, completed in 1845, transformed Bombay into a major seaport on the Arabian Sea.

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The islands were leased to several Portuguese officers during their regime.

In 1960, following the Samyukta Maharashtra Movement, a new state of Maharashtra was created with Bombay as the capital.

The city houses important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.

Mumbai's business opportunities, as well as its potential to offer a higher standard of living, Other variations recorded in 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), The French traveller Louis Rousselet who visited in 18 tells us in his book L’Inde des Rajahs (pub.

1877 in Paris): "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 Mamba Dévi, and that she still..., possesses a temple".

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