London has topped the 2016 Global Power City Index for the fifth consecutive year with Mumbai ranked 39th on the list of the world’s leading global cities for business, innovation and culture, according to a report released .

The 2016 Global Power City Index (GPCI) report, which was released by the Mori Memorial Foundation’s Institute for Urban Strategies, ranked London as the leading overall city, highlighting the capital’s strong cultural offering, ease of doing business and global transport links.

The report ranks 42 major cities of the world across six key measures of economy, research and development, culture, accessibility, environment and livability.

Mumbai, the only Indian city to feature on the index, was ranked 39th. London performed well across all areas, retaining its top spot for the fifth year in a row and ranking above other cities such as New York, Tokyo and Paris. The UK capital was first awarded the leading position in 2012, the year it successfully hosted the Olympic and Paralympic Games.

New York experienced no significant change in its ratings, retaining its No. 2 slot, also for the fifth year running.

Paris dropped out of the top three to fourth position, due largely to a perceived decrease in the levels of cultural interaction and research and development. Tokyo overtook Paris and moved into third place. The increase was due to a number of factors, including a reduction in Japan’s rate of corporate taxation, an increase in the number of visitors to the city from abroad and an increase in the number of direct flight connections to overseas destinations.Singapore completes the top 5 cities in the annual ranking.