Mumbai, whose name was changed from Bombay in 1995, is not only the commercial and financial center of India but also serves as the entertainment capital of the country. 52 of the top 100 Indian companies have their headquarters in the city, which is also home to the Reserve Bank of India (RBI), the Export Import Bank of India (EIBI) and many other public, private and foreign banks. The city's international airport welcomes about 40% of India's air passengers and 32% of its total air cargo traffic, while the new Mumbai Port handles about 57% of the country's containers. The city is also called "Bollywood" on account of its very productive and prosperous film industry.
Mayor Hur Nam-sik of Busan Metropolitan City and Mayor Shubha Umesh Raul of Mumbai signed a Sister-city Agreement at Busan City Hall on November 19, 2009.
Two delegates (1 professor and 1 journalist) from Mumbai participated in the Busan FAM Tour and attended the Busan Fireworks Festival.
An eight member delegation led by Mayor Shubha Umesh Raul of Mumbai visited Busan to sign a Sister-city Agreement.