The historic role of Bombay (as it was then called) as a hub for banking, commerce, trade, and shipping, and its financial clout a 100 years ago, are little known today. With the city scheduled to soon open an international financial services centre, it is worthwhile to recall and integrate this legacy with Mumbai’s present strengths in order to attract global capital to its IFSC

The global monetary and financial system is lopsided and designed to favour rich countries; an alternative economic and political doctrine, which takes into account the needs of emerging economies like India, must now be articulated to end this one-sided architecture