Make Mumbai financial hub, says Paulson

United States Treasury Secretary Henry M Paulson Jr, today said that India had a great opportunity to make Mumbai an international financial services centre.

"India has made good progress. Look at the equity market and growth in the insurance market. But, the real opportunity is to have, in my judgement, Mumbai as the financial centre," he said at the Fortune Global Forum.

Responding to a question about Shanghai as a financial centre, Paulson said that the Chinese showpiece city was not truly a global financial centre. "China has come a way, but it has a longer way to go."