Gulu Lalvani In Talks With Malav shroff For Mumbai Marina
This is an update to our earlier article which spoke about the telecom giant Mr Gulu Lalvani foraying into the yachting sector of India. according to the latest update, Mr Gulu Lalvani is already started initiating talks with the Indian yachting industry players.
Infact he in contact with none other than Mr Malav Shroff (founder and organizer of the Mumbai International Boat Show) who is also lobbying with the Govt to bring about the marina concept in mumbai. “I will prefer having a partnership to foray in India market. I am talking to Malav Shroff,” he says.
Mr Lalvani has also expressed that he would like to construct something on the lines of RPH (Royal Phuket Marina). He is looking at investing $100 million in the India marina project. Mr Lalvani is also eyeing some other real estate developments in the country.
As stated in our earlier article, lalvani mainly has two concerns in India. 1. Red-Tapism, 2. Import duties. In the past Lalvani had a bad experience of red-tapism in India and till today considers it one the main concerns for venturing into the Indian market. Yacht import duties being 35% is also a concern for the yachting culture in India as in phuket there is 0% import duty for yachts where Mr Gulu has created his RPH (Royal Phuket Marina) a $250-million integrated residential marina project.
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