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Samira MUMBAI International Boat Show ‘09 – MORE !

5 February 2009 No Comment

Everyone’s setting sail for India. With a growth of 8.2% per annum, India’s economy is booming and has now swelled to a trillion dollars, making it only the 12th nation to reach this milestone. As more and more super luxury brands such as Louis Vuitton, Chanel, Porsche, Salvatore Ferragamo, Hermes, Jean Paul Gaultier, Gucci, Christian Louboutin, and others drop anchor in Indian shores over the past year, today’s brand conscious Indian is going overboard in his urge to splurge.

Here’s why:

• Riding high on strong economic growth and robust gains in stock markets, the number of high net worth individuals (HNWI), with a net asset of at least one million dollar, increased by 20.5% to 1,40,015 in India last year, second to the 21.2% growth of Singapore. (Source : The Financial Express, June 28, 2007)

• Statistics show that the luxury goods market in India was pegged at USD 4.35 billion in 2006 which is expected to triple to USD 14.35 billion by 2010 and grow upto seven times to USD 30 billion by 2015. (Source : The Economic Times ATKearney India Luxury Review 2007)

WHY MUMBAI ?

With a population in excess of 12 million, Mumbai is said to have more millionaires per square mile than Manhattan. That apart, there are many more reasons why it makes sense for India’s largest boat show to dock in Mumbai:

• Mumbai is known as the ‘Gateway to India.’ and is India’s commercial and business hub.

• It accounts for 16% of India’s income tax collection and 35% of India’s corporate tax collection.

• Mumbai has a natural harbour with miles of sheltered coastline with great places to sail to.

• The city houses the mega-rich diamond, finance, IT and film industries. (Bollywood is the world’s largest film producing centre.)

• Mumbai is home to the National Stock Exchange and the Bombay Stock Exchange. The BSE Sensex has broken all records and has crossed the 21,000 mark as of the first quarter of 2008.

• India’s financial capital Mumbai is the world’s seventh largest city in terms of billionaire population according to a Top 10 Billionaire City list by Forbes. With the average wealth of resident billionaires at a whopping $7.6 billion, Mumbai surpasses all the 10 cities, including Moscow, New York, London, Istanbul, Hongkong, Los Angeles, San Francisco, Dallas and Tokyo.

• Mumbai is home to the highest number of corporate headquarters and is home to the scions of some of India’s largest private enterprises like the Tata Group, the Reliance Group, the Aditya Birla Group, ICICI Bank, etc.

• It has a strong boating heritage with the 3rd oldest yacht club in the world, the Royal Bombay Yacht Club, set up in 1846.

This year, the new management in the form of CMP would be overlooking the proceedings – which would lend a fresh outlook and international expertise to the show. Make sure you are there to catch the show over 4 days between Feb 19th to Feb 22nd at the Bandra-Kurla Complex.