The Mumbai Consensus is when a group of people got together in Mumbai, which is a big city in India, and agreed on a plan to help make the world a better place. They talked about things like how to create jobs for people, how to help the environment, and how to make sure everyone has the things they need to live a good life. It's like when you and your friends come up with a plan to have a fun day together, but instead of fun things, they talked about important things that will make the world a better place.